Hong Kong's January Export and Import Values Surge

Hong Kong's Census and Statistics Department reported a 33.8% year-on-year increase in the total value of goods exported in January, marking the 23rd consecutive month of growth. Imports rose by 38.1% year-on-year, continuing a 13-month upward trend, with both exports and imports expanding by nearly 8 percentage points month-on-month. According to RTHK, January recorded a visible trade deficit of HKD 14.1 billion. The government noted that due to the varying dates of the Lunar New Year holiday, it is more appropriate to analyze trade figures for January and February combined. Data showed a 37.3% increase in the value of exports to Asia last month. Exports to Malaysia surged by 81.1%, while those to mainland China rose by 40.6%. Exports to Singapore, Thailand, and Vietnam increased by over 30%, and exports to Switzerland more than doubled. Imports from Vietnam and India more than doubled, while those from mainland China and Singapore rose by over 40%. A government spokesperson stated that the significant increase in the value of goods exported last month was evident across most markets and major commodity categories, reflecting a robust underlying growth momentum. Looking ahead, Hong Kong's merchandise trade performance is expected to benefit from the continued moderate expansion of the global economy and strong demand for AI-related electronic products. The government will remain vigilant regarding changes in trade policies in the external environment.