The Census and Statistics Department (C&SD) released today (October 27) the external merchandise trade statistics for September 2025. In September 2025, the values of Hong Kong's total exports and imports of goods both recorded year-on-year increases, at 16.1% and 13.6% respectively.
 
     In September 2025, the value of total exports of goods increased by 16.1% over a year earlier to $462.3 billion, after a year-on-year increase by 14.5% in August 2025. Concurrently, the value of imports of goods increased by 13.6% over a year earlier to $512.5 billion in September 2025, after a year-on-year increase by 11.5% in August 2025. A visible trade deficit of $50.2 billion, equivalent to 9.8% of the value of imports of goods, was recorded in September 2025.
 
     For the first nine months of 2025 as a whole, the value of total exports of goods increased by 13.4% over the same period in 2024. Concurrently, the value of imports of goods increased by 13.1%. A visible trade deficit of $293.9 billion, equivalent to 7.2% of the value of imports of goods, was recorded in the first nine months of 2025.
 
     Comparing the third quarter of 2025 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods decreased by 0.7%. Meanwhile, the value of imports of goods remained virtually unchanged.
 
Analysis by country/territory
 
     Comparing September 2025 with September 2024, total exports to Asia as a whole grew by 18.3%. In this region, increases were registered in the values of total exports to most major destinations, in particular Vietnam (+50.9%), Malaysia (+40.0%), Taiwan (+31.9%), India (+19.5%) and Chinese Mainland (the Mainland) (+16.7%).
 
     Apart from destinations in Asia, increases were registered in the values of total exports to some major destinations in other regions, in particular Switzerland (+138.5%) and Germany (+27.6%).
 
     Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular the United Kingdom (+70.3%), Vietnam (+68.7%), Singapore (+33.2%), the Mainland (+19.4%) and Japan (+12.9%). On the other hand, a decrease was recorded in the value of imports from Taiwan (-19.0%).
 
     For the first nine months of 2025 as a whole, increases were registered in the values of total exports to most major destinations, in particular Vietnam (+52.4%), Malaysia (+44.7%), Taiwan (+38.9%), the Mainland (+16.5%) and Japan (+13.4%). On the other hand, a decrease was recorded in the value of total exports to the United Arab Emirates (-11.9%).
 
     Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular Vietnam (+79.5%), the United Kingdom (+46.3%), Taiwan (+22.6%), Malaysia (+18.9%) and the Mainland (+12.7%). On the other hand, a decrease was recorded in the value of imports from Korea (-17.1%).
 
Analysis by major commodity
 
     Comparing September 2025 with September 2024, increases were registered in the values of total exports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $43.7 billion or +22.8%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $6.5 billion or +14.5%). 
 
     Over the same period of comparison, increases were registered in the values of imports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $40.1 billion or +20.3%), "miscellaneous manufactured articles (mainly jewellery, goldsmiths' and silversmiths' wares)" (by $9.5 billion or +33.6%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $9.4 billion or +18.6%).
 
     For the first nine months of 2025 as a whole, increases were registered in the values of total exports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $253.7 billion or +15.9%) and "office machines and automatic data processing machines" (by $117.6 billion or +30.1%).
 
     Over the same period of comparison, increases were registered in the values of imports of most principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $259.8 billion or +16.2%) and "office machines and automatic data processing machines" (by $105.3 billion or +32.5%).
 
Commentary
 
     A Government spokesman said that the value of merchandise exports continued to grow visibly by 16.1% in September over a year earlier. Exports to the Mainland and most other Asian markets saw robust growth, and exports to the United States and the European Union also grew moderately. Meanwhile, exports of most major commodities increased, particularly for exports of electrical equipment, machinery and mechanical appliances which continued to see strong growth.
 
     Looking ahead, Hong Kong's merchandise trade performance should continue to be underpinned by the sustained expansion in the global economy. The Government's ongoing endeavour in enhancing economic and trade ties with different markets also helps. Yet, the United States' trade policy will continue to cast uncertainties on the near-term outlook of international trade flows. The Government will monitor the situation closely and stay vigilant.
 
Further information
 
     Table 1 presents the analysis of external merchandise trade statistics for September 2025. Table 2 presents the original monthly trade statistics from January 2022 to September 2025, and Table 3 gives the seasonally adjusted series for the same period.
 
     The values of total exports of goods to 10 main destinations for September 2025 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.
 
     Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for September 2025.
 
     All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for September 2025 will be released in mid-November 2025.
 
     The September 2025 issue of "Hong Kong External Merchandise Trade" contains detailed analysis on the performance of Hong Kong's external merchandise trade in September 2025 and will be available in early November 2025. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020005&scode=230).
 
     Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4691).

Ends/Monday, October 27, 2025
Issued at HKT 16:30

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