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Ng Kang-chung

Hong Kong’s exports posted their sharpest increase in 22 months, rising 18.8 per cent in November from a year earlier, driven by strong demand for electrical equipment, machinery and appliances, according to data released on Monday.
The value of goods exported from the city during the month stood at HK$468.9 billion (US$60.3 billion), according to the Census and Statistics Department.
Imports soared 18.1 per cent to HK$517.4 billion. Combined with exports, this resulted in a trade deficit of HK$48.5 billion.
November’s growth was the strongest since January 2024, when exports rose 33.6 per cent year on year.
A government spokesman said exports to most major markets recorded further robust growth.
By commodity, exports of most major categories increased noticeably, particularly those of electrical equipment, machinery and mechanical appliances.
“Looking ahead, sustained moderate global economic growth and persistent demand for electronic-related products will underpin Hong Kong’s merchandise trade growth in the near term,” he said.
“The government will continue its efforts to strengthen economic and trade ties with different markets and remain vigilant to uncertainties in the external environment.”
The growth in exports, coming on the back of double-digit rises since February this year, also followed year-on-year increases of 17.5 per cent in October and 16.1 per cent in September.
For the first 11 months of 2025, the value of total exports rose by 14.3 per cent over the same period in 2024. Concurrently, imports increased by 14.1 per cent.
A trade deficit of HK$382.8 billion, or about 7.5 per cent of total imports, was recorded during the period.

Dr Lee Shu-kam, head of Shue Yan University’s department of economics and finance, cautioned against “over-optimism” over the recent strength in exports amid external uncertainties brought about by global geopolitical tensions.
Lee noted that while exports saw strong growth, imports also increased. “We still had a trade deficit in the first 11 months,” Lee said.
“The economic recovery mainly focuses on some sectors. The general public may not feel a full recovery,” Lee said.
He urged the government to expand ties with more markets to boost exports.
During the 11-month period, the top performing export market was Malaysia, which grew 55.1 per cent year on year, followed by Vietnam, at a 52.9 per cent increase. They were followed by Taiwan, which recorded 40.5 per cent growth, mainland China, at 15.8 per cent, and Japan at 13.7 per cent.
Financial Secretary Paul Chan Mo-po earlier said strong exports were expected to help propel Hong Kong’s economic growth to 3.2 per cent this year, slightly surpassing an initial government forecast of 2 to 3 per cent.
Chan said that the city was in its third year of expansion, powered by the solid performance of its “three engines”, with the export sector having been the primary driver with notable strength throughout the first three quarters.
He added that growth was further bolstered by robust fixed capital investment and stabilising local consumption.


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Growth follows year-on-year increases of 17.5 per cent in October and 16.1 per cent in September.


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Hong Kong exports jump 18.8% in November, sharpest increase in 22 months

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Growth follows year-on-year increases of 17.5 per cent in October and 16.1 per cent in September

Growth follows year-on-year increases of 17.5 per cent in October and 16.1 per cent in September