External merchandise trade statistics for October 2025
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In October 2025, the value of total exports of goods increased by 17.5% over a year earlier to $461.8 billion, after a year-on-year increase by 16.1% in September 2025. Concurrently, the value of imports of goods increased by 18.3% over a year earlier to $501.7 billion in October 2025, after a year-on-year increase by 13.6% in September 2025. A visible trade deficit of $39.9 billion, equivalent to 8.0% of the value of imports of goods, was recorded in October 2025.
For the first ten months of 2025 as a whole, the value of total exports of goods increased by 13.8% over the same period in 2024. Concurrently, the value of imports of goods increased by 13.6%. A visible trade deficit of $334.0 billion, equivalent to 7.3% of the value of imports of goods, was recorded in the first ten months of 2025.
Comparing the three-month period ending October 2025 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods decreased by 1.6%. Meanwhile, the value of imports of goods decreased by 1.9%.
Analysis by country/territory
Comparing October 2025 with October 2024, total exports to Asia as a whole grew by 15.6%. In this region, increases were registered in the values of total exports to most major destinations, in particular Malaysia (+139.4%), Vietnam (+56.0%), Taiwan (+50.2%), India (+31.8%) and Chinese Mainland (the Mainland) (+9.8%).
Apart from destinations in Asia, increases were registered in the values of total exports to most major destinations in other regions, in particular the Netherlands (+56.8%) and the USA (+40.5%).
Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular Vietnam (+189.1%), the United Kingdom (+55.7%), Malaysia (+25.1%), Singapore (+20.8%) and the Mainland (+18.4%). On the other hand, a decrease was recorded in the value of imports from the USA (-10.4%).
Comparing the first ten months of 2025 with the same period in 2024, increases were registered in the values of total exports to most major destinations, in particular Malaysia (+53.7%), Vietnam (+52.8%), Taiwan (+40.0%), the Mainland (+15.8%) and Japan (+14.1%).
Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular Vietnam (+89.5%), the United Kingdom (+47.1%), Taiwan (+20.9%), Malaysia (+19.7%) and the Mainland (+13.3%). On the other hand, a decrease was recorded in the value of imports from Korea (-16.0%).
Analysis by major commodity
Comparing October 2025 with October 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 $30.3 billion or +16.1%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $17.6 billion or +35.7%).
Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $40.6 billion or +21.5%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $23.2 billion or +45.5%).
Comparing the first ten months of 2025 with the same period in 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 $284.0 billion or +15.9%) and "office machines and automatic data processing machines" (by $122.3 billion or +28.0%).
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 $300.4 billion or +16.8%) and "office machines and automatic data processing machines" (by $109.4 billion or +30.1%).
Commentary
A Government spokesman said that the value of merchandise exports grew markedly further by 17.5% in October over a year earlier. Exports to most major markets saw robust growth. Analysed by commodity, exports of most major commodities increased, particularly for exports of electrical equipment, machinery and mechanical appliances which sustained strong growth.
Looking ahead, sustained moderate growth of the global economy, coupled with easing in external trade policy uncertainty recently and persistent demand for electronic-related products, should be conducive to Hong Kong's merchandise trade growth in the near term. The Government's ongoing effort to enhance Hong Kong’s economic and trade ties with different markets will also continue to provide support. Yet, the lingering impacts of trade barriers still warrant attention. The Government will stay vigilant.
Further information
Table 1 presents the analysis of external merchandise trade statistics for October 2025. Table 2 presents the original monthly trade statistics from January 2022 to October 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 October 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 October 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 October 2025 will be released in mid-December 2025.
The October 2025 issue of "Hong Kong External Merchandise Trade" contains detailed analysis on the performance of Hong Kong’s external merchandise trade in October 2025 and will be available in early December 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/Tuesday, November 25, 2025
Issued at HKT 16:30
Issued at HKT 16:30
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