Volume and price statistics of external merchandise trade in May 2025
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In May 2025, the volume of Hong Kong's total exports of goods and imports of goods increased by 13.4% and 16.5% respectively over May 2024.
Comparing the first five months of 2025 with the same period in 2024, the volume of Hong Kong's total exports of goods and imports of goods both increased by 10.4%.
Comparing the three-month period ending May 2025 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 9.7% and 11.3% respectively.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing May 2025 with May 2024, the prices of total exports of goods and imports of goods increased by 1.8% and 1.9% respectively.
As regards price changes in the first five months of 2025 over the same period in 2024, the prices of total exports of goods and imports of goods increased by 1.9% and 2.0% 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 0.1% in May 2025, whereas it remained virtually unchanged in the first five months of 2025.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing May 2025 with May 2024, increases were recorded for the total export volume to Taiwan (48.0%), Vietnam (39.5%), India (37.6%) and the mainland of China (the Mainland) (15.9%). On the other hand, the total export volume to the USA decreased by 20.7%.
Over the same period of comparison, the total export prices to Taiwan (5.5%), the USA (1.9%), the Mainland (1.4%) and Vietnam (1.2%) increased. On the other hand, the total export prices to India decreased by 2.2%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing May 2025 with May 2024, increases were recorded for the import volume from Vietnam (70.1%), Taiwan (29.6%), the Mainland (17.1%) and Singapore (12.3%). On the other hand, the import volume from Korea decreased by 10.5%.
Over the same period of comparison, the import prices from Korea (4.5%), Singapore (2.3%), Taiwan (2.3%) and the Mainland (1.2%) increased. On the other hand, the import prices from Vietnam decreased by 0.3%.
Further information
Details of the above statistics are published in the May 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, July 15, 2025
Issued at HKT 16:30
Issued at HKT 16:30
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