Hong Kong's September 2025 Exports Up 16.1%, Imports Rise 13.6%, Trade Deficit at $50.2 Billion

External merchandise trade statistics for September 2025

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).

Source: AI-found images

Housing Bureau and Development Bureau accept Independent Investigation Report submitted by Architectural Services Department regarding construction malpractices at three Light Public Housing sites and impose punitive measures on Contractor, Structural Engineer, and Project Management Consultant involved

The Architectural Services Department (ArchSD) submitted the independent investigation report on the construction malpractices at the three Light Public Housing (LPH) sites at Lok On Pai in Siu Lam, Yan Po Road in Tuen Mun, and Sheung On Street in Chai Wan to the Housing Bureau (HB) and the Development Bureau (DEVB) on November 5, 2025. Upon a thorough review, both bureaux today (January 16) accepted the findings of the report and imposed punitive measures on the Contractor, Structural Engineer, and Project Management Consultant (PMC) involved. The ArchSD has also been tasked to continue its strict supervision on the Contractor and PMC in taking forward the remedial works expeditiously, alongside the immediate implementation of the improvement measures as set out in the report.

In light of the investigation results, the DEVB served notices today, in accordance with the regulatory mechanisms, to the companies involved about the following punitive measures to be imposed on them:

(1) The Contractor, i.e. Able Engineering Company Limited (Able), which is responsible for the construction and associated quality assurance: suspension of its eligibility to tender under all relevant categories of the List of Approved Contractors for Public Works and the List of Approved Suppliers of Materials and Specialist Contractors for Public Works for one year. As for Chun Wo Construction and Engineering Company Limited that formed the joint venture with Able, since its major involvement in the projects is to provide strategic advice on construction planning and has neither been involved in the site works nor supervision, it is not subject to the punitive measures;

(2) The Structural Engineer employed by the Contractor, i.e. C M Wong & Associates Limited, which is responsible for providing and managing the resident structural engineer involved: suspension of its eligibility to tender under all relevant categories of the List of Consultants of the Architectural and Associated Consultants Selection Board (AACSB) for one year; and

(3) The PMC employed by the ArchSD, i.e. Wong Tung & Partners Limited, which is responsible for providing project management and managing the resident site supervisors involved: suspension of its eligibility to tender under all relevant categories of the List of Consultants of AACSB for six months. The six-month suspension period was set with due consideration that not all of the project sites under its management were discovered with deficiencies in supervision.

Since the commencement of LPH construction, the ArchSD has always enforced strict quality supervision and proactive inspections, together with reviews on the performance of contractors. The prompt uncovering of malpractices at the three LPH sites during the ArchSD's proactive inspections was a direct reflection of the effectiveness of the supervision mechanism.

The HB has tasked the ArchSD to continue its stern supervision of the Contractor to take forward the remedial works and the remaining construction works and to closely monitor construction quality and progress. Under the premise of adhering to the original completion dates, every effort shall be made to ensure that all projects comply with the relevant safety requirements. As directed by the ArchSD, the Contractor has implemented a host of remedial measures at full speed since early November last year, including shifting and reinstalling the modules involved, and will bear all costs related to the remedial measures.

Moreover, on the works contract level, the ArchSD requested that the Contractor implement a series of remedial measures and bear all the related costs of the remedial works. In addition, should the remedial measures result in any delay in the contract completion dates, the Contractor will be liable for liquidated damages. Moreover, the ArchSD has required the Contractor to replace all site supervision personnel, including site agents, works supervisors, and resident structural engineers. The ArchSD has also concurrently required the PMC to replace all its resident site supervisors. Meanwhile, the ArchSD has immediately strengthened its supervision by deploying full-time government site supervision staff to monitor the sites and has arranged for its structural engineers to conduct additional on-site spot checks and audits to ensure strict quality control for the projects.

Based on preliminary evidence, Able is suspected of serious negligence or misconduct in the construction works. The ArchSD will inform the Building Authority to refer the case to the Registered Contractors' Disciplinary Board under Section 13 of the Buildings Ordinance. As provided in the Ordinance, if, upon hearing, negligence or misconduct in construction works were found to have been committed, the Board may order the removal of Able or its directors, senior personnel, or individuals from the relevant lists, impose fines, or issue a reprimand on Able or its directors, senior personnel, or individuals.

As the investigation revealed that the incident may involve criminal acts of providing false statements, the ArchSD has already reported the case to the Police.

The Government will continue to follow up on the case in a serious manner and step up its site supervision efforts to ensure the overall construction quality, safety and progress are not affected, as well as to ensure each LPH project is completed with high quality and high safety standards, thereby providing decent homes for residents in need as soon as possible.

Source: AI-found images