Hong Kong's Merchandise Trade Volume Increases in September 2025, Exports Up 13.8% and Imports Up 11.4%

Volume and price statistics of external merchandise trade in September 2025

Further to the external merchandise trade statistics in value terms for September 2025 released earlier on, the Census and Statistics Department (C&SD) released today (November 13) the volume and price statistics of external merchandise trade for that month.

In September 2025, the volume of Hong Kong's total exports of goods and imports of goods increased by 13.8% and 11.4% respectively over September 2024.

Comparing the first nine 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 11.3% and 10.8% respectively.

Comparing the third quarter of 2025 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods decreased by 0.8%, while the volume of imports of goods remained virtually unchanged.

Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.

Comparing September 2025 with September 2024, the prices of total exports of goods and imports of goods increased by 2.4% and 2.0% respectively.

As regards price changes in the first nine months of 2025 over the same period in 2024, the prices of total exports of goods and imports of goods both increased by 1.9%.

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 increased by 0.4% in September 2025, whereas it remained virtually unchanged in the first nine months of 2025.

Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.

Comparing September 2025 with September 2024, increases were recorded for the total export volume to all main destinations: Vietnam (46.1%), Taiwan (25.6%), India (15.4%), Chinese Mainland (the Mainland) (14.8%) and the USA (4.3%).

Over the same period of comparison, the total export prices to all main destinations increased: Taiwan (5.1%), Vietnam (2.7%), the Mainland (2.3%), India (2.0%) and the USA (0.5%).

Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.

Comparing September 2025 with September 2024, increases were recorded for the import volume from Vietnam (62.3%), Singapore (27.2%), the Mainland (19.1%) and Japan (9.0%). On the other hand, the import volume from Taiwan decreased by 22.0%.

Over the same period of comparison, the import prices from all main suppliers increased: Singapore (4.9%), Taiwan (4.5%), Japan (3.0%), the Mainland (0.7%) and Vietnam (0.4%).

Further information

Details of the above statistics are published in the September 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).

Hong Kong rises to rank second globally in World Competitiveness Yearbook 2026

In the latest World Competitiveness Yearbook (WCY) 2026 published by the International Institute for Management Development, Hong Kong's global competitiveness has risen for the third consecutive year, up one place to second globally this year, the highest since 2019.

Among the four competitiveness factors in the WCY 2026, Hong Kong ranks second globally in "Government efficiency" and third in "Business efficiency". Hong Kong ranks eighth and 11th globally in "Infrastructure" and "Economic performance" respectively. As regards the various competitiveness sub-factors, Hong Kong tops the rankings in "Tax policy" and "Business legislation"; ranks second globally in "Finance"; third globally in "International trade", "International investment", "Management practices" and "Education"; and fourth globally in "Public finance" and "Basic infrastructure".

A Government spokesperson said today (June 18), "The WCY 2026 reaffirms Hong Kong as one of the most competitive economies in the world, and notes that Hong Kong's rise to second globally sustains the strong upward trajectory from 2024 and 2025. In the competitiveness factor 'Government efficiency' Hong Kong continues to rank second globally, reflecting the Hong Kong Special Administrative Region (HKSAR) Government's ongoing efforts to promote free and open, stable, predictable and business-friendly economic policies, as well as the international community's trust in Hong Kong's legal and regulatory environment. Hong Kong's 'Business efficiency' is ranked third globally, reflecting the strong support for industry development rendered by our robust financial ecosystem, as well as the seamless alignment of the city's business practices and environment with international best standards."

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The spokesperson added, "Amid rapidly evolving geopolitical dynamics, Hong Kong, with its close connectivity to both the Chinese Mainland and the world under the 'one country, two systems' principle, and its sound institutions, open markets and sustained investments in innovation, has become a 'value hub' that offers both security and growth opportunities. In fact, Hong Kong continues to excel in various international rankings including those for economy, finance, and talent. The International Monetary Fund has also given positive recognition to Hong Kong in recent months, and major credit rating agencies have successively reaffirmed Hong Kong's credit ratings and 'stable' outlook. All these echo the WCY 2026 results.

"Currently, Hong Kong is formulating at full speed its first Five-Year Plan to proactively align with the National 15th Five-Year Plan. With the staunch support of our country, the HKSAR Government will work together with all sectors of society to strengthen our role and function as a 'super connector' and 'super value-adder', with a view to better integrating into and serving the overall national development, achieving our own high-quality development, creating more new room for development for our people and businesses, as well as opening up new opportunities for global investors and enterprises."

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