Volume and Price Statistics of External Merchandise Trade in February 2025
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Due to the difference in timing of the Chinese New Year holidays, it is more appropriate to analyse the trade figures for January and February taken together in making year-on-year comparison.
Comparing the first two months of 2025 with the same period in 2024, the volume of Hong Kong's total exports of goods and imports of goods increased by 4.6% and 3.6% respectively.
In February 2025, the volume of Hong Kong's total exports of goods and imports of goods increased by 13.8% and 9.9% respectively over February 2024.
Comparing the three-month period ending February 2025 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 6.5% and 1.8% respectively.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
As regards price changes in the first two months of 2025 over the same period in 2024, the prices of total exports of goods and imports of goods both increased by 1.8%.
Comparing February 2025 with February 2024, the prices of total exports of goods and imports of goods increased by 1.5% and 1.6% respectively.
Price changes in external merchandise trade are reflected by changes in unit value indices of external merchandise trade, which are compiled based on average unit values or, for certain commodities, specific price data.
The terms of trade index is derived from the ratio of price index of total exports of goods to that of imports of goods. Compared with the same periods in 2024, the index decreased by 0.2% in February 2025 and 0.1% in the first two months of 2025.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing February 2025 with February 2024, increases were recorded for the total export volume to Vietnam (112.0%), Taiwan (63.4%) and the mainland of China (the Mainland) (28.7%). On the other hand, the total export volume to the USA (-19.6%) and India (-27.2%) decreased.
Over the same period of comparison, the total export prices to Taiwan (5.7%), the USA (1.5%), Vietnam (1.0%) and the Mainland (0.8%) increased. On the other hand, the total export prices to India decreased by 2.5%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing February 2025 with February 2024, increases were recorded for the import volume from Taiwan (38.1%), the Mainland (19.3%) and Singapore (1.3%). On the other hand, the import volume from Japan (-3.5%) and Korea (-37.3%) decreased.
Over the same period of comparison, the import prices from Korea (9.6%), Singapore (2.6%), Taiwan (2.2%) and Japan (0.2%) increased. On the other hand, the import prices from the Mainland decreased by 0.3%.
Further information
Details of the above statistics are published in the February 2025 issue of "Hong Kong Merchandise Trade Index Numbers". Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020006&scode=230).
Enquiries on merchandise trade indices may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4918).
Ends/Tuesday, April 15, 2025
Issued at HKT 16:30
Issued at HKT 16:30
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