Volume and price statistics of external merchandise trade in October 2025
Further to the external merchandise trade statistics in value terms for October 2025 released earlier on, the Census and Statistics Department (C&SD) released today (December 15) the volume and price statistics of external merchandise trade for that month.
In October 2025, the volume of Hong Kong's total exports of goods and imports of goods increased by 14.6% and 15.7% respectively over October 2024.
Comparing the first ten 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 11.6% and 11.3% respectively.
Comparing the three-month period ending October 2025 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods decreased by 2.1% and 2.3% 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 October 2025 with October 2024, the prices of total exports of goods and imports of goods increased by 2.4% and 2.3% respectively.
As regards price changes in the first ten months of 2025 over the same period in 2024, the prices of total exports of goods and imports of goods both increased by 2.0%.
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 0.2% in October 2025, whereas it remained virtually unchanged in the first ten months of 2025.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing October 2025 with October 2024, increases were recorded for the total export volume to all main destinations: Vietnam (52.6%), Taiwan (43.0%), the USA (39.1%), India (21.8%) and Chinese Mainland (the Mainland) (7.3%).
Over the same period of comparison, the total export prices to all main destinations increased: Taiwan (4.7%), India (3.7%), the Mainland (2.5%), Vietnam (1.3%) and the USA (0.8%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing October 2025 with October 2024, increases were recorded for the import volume from all main suppliers: Vietnam (175.6%), the Mainland (18.2%), Singapore (13.9%), Japan (3.4%) and Taiwan (1.8%).
Over the same period of comparison, the import prices from all main suppliers increased: Singapore (6.2%), Taiwan (5.6%), Vietnam (2.3%), Japan (1.3%) and the Mainland (0.4%).
Further information
Details of the above statistics are published in the October 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).
Photo source: the official website of C&SD
HKSAR Government strongly objects despicable political manipulations that smear and attack HKSAR using "Lai Chee-ying's case"
The Hong Kong Special Administrative Region (HKSAR) Government yesterday (December 15) expressed strong dissatisfaction with and opposition to the United States (US) and western countries, anti-China media, organisations and politicians for their malicious attacks, false statements, and smears against the HKSAR which totally disregarded the rule of law, following the court's conviction judgment in Lai Chee-ying's case, which was made strictly in accordance with the law and evidence.
A HKSAR Government spokesperson said, "these biased statements and malicious smears from external forces precisely reflect that the national security risks we face are real. External forces showed no respect in the HKSAR court's independent judgment of the case, which had been made on the basis of facts and evidence. They also refused to acknowledge the evidence set out in the reasons for verdict, and refused to understand the court's considerations and rationale for the verdict. Instead, they wantonly launched attacks, slandered and attacked the HKSAR Government, which was clearly a case of politics trumping the law. With the external forces distorting facts and confounding right and wrong, their malicious intentions are clearly revealed. We must sternly denounce their wrongdoings to set the record straight."
The court's conviction verdict was entirely free from any political considerations
The spokesperson reiterated, "The court clearly pointed out in the reasons for verdict that Lai Chee-ying was not on trial for his political views or beliefs. The court's reasons for verdict in this case are 855 pages long, fully open for public inspection, and meticulously explain the court's analysis of the relevant legal principles and evidence, as well as the reasons for convicting Lai Chee-ying and the three defendant companies.
"The court clearly pointed out that Lai Chee-ying's only intent whether pre or post Hong Kong National Security Law (HKNSL) was to seek the downfall of the Communist Party of China even though the ultimate cost was the sacrifice of the interests of the people of the PRC and the HKSAR.
"At the same time, the court found that the written articles under consideration were objectively seditious and written with a view to bringing the HKSAR Government into hatred and contempt and to exciting disaffection against it. The court also found that Lai Chee-ying was consciously using Apple Daily and his personal influence to carry out a consistent campaign with a view to undermining the legitimacy or authority of the Central People's Government (CPG), the HKSAR Government and their institutions and harming the relation between the CPG and the HKSAR Government with the people of Hong Kong. That went far beyond what would be permissible by the law.
"Relevant countries, anti-China media, organisations and politicians would only smear the HKSAR Government and HKSAR courts with empty slogans, alleging the so-called political persecution of Lai Chee-ying. Yet, they dare not face the fact that the court's conviction verdict is well-founded and reasoned, fully demonstrating that the court has made its decision on the case strictly in accordance with the law and evidence, free from any interference, and absolutely free of any political considerations."
The spokesperson stressed, "Hong Kong is a society underpinned by the rule of law and has always adhered to the principle that laws must be obeyed and lawbreakers be held accountable. Article 5 of the HKNSL and section 2 of the Safeguarding National Security Ordinance (SNSO) clearly stipulate that the principle of the rule of law shall be adhered to in preventing, suppressing and imposing punishment for offences endangering national security. Any suggestion that certain individuals or organisations should be immune from legal consequences for their illegal acts is no different from advocating a special privilege to break the law, and this totally runs contrary to the spirit of the rule of law."
Lai Chee-ying's case has nothing to do with freedom of the press at all
The spokesperson said, "Some media organisations and organizations that claim to represent journalists, have conflated the criminal acts in this case with freedom of the press, and have even played up different cases to vilify the HKSAR, with the purpose of misleading the public and defaming the HKSAR's human rights and rule of law. In fact, Lai Chee-ying's case has nothing to do with freedom of the press at all. Over the years, the defendants were using journalism as a guise to commit acts that brought harm to our country and Hong Kong. The public trial of this case revealed Lai Chee-ying's close management and hands-on control of the editorial direction of Apple Daily, and one of the senior officials even said they were free within a 'bird cage'. Meanwhile, Lai Chee-ying had repeatedly and personally colluded with foreign forces, begging for sanctions and hostile actions against the Central Authorities and the HKSAR Government.
"Hong Kong citizens enjoy freedom of the press and freedom of speech as protected under the Basic Law and the Hong Kong Bill of Rights. In fact, the HKNSL and the SNSO clearly stipulate that human rights shall be respected and protected in safeguarding national security. The rights and freedoms, including the freedoms of the press, of speech and of publication, enjoyed by Hong Kong people under the Basic Law and the provisions of the International Covenant on Civic and Political Rights (ICCPR) and the International Covenant on Economic, Social and Cultural Rights as applied to the HKSAR, are protected in accordance with the law. Like all other places in the world, journalists, just like all other citizens, have an obligation to abide by all the laws. According to the principles established by Article 19 of the ICCPR, the European Convention on Human Rights and relevant jurisprudence, when the media and journalists publish opinions, information and articles, they must observe and discharge 'special duties and responsibilities', including protection of national security and public order; journalists must, in accordance with the tenets of 'responsible journalism', act in good faith on accurate factual basis and provide reliable and precise information, so as to be entitled to the protection of freedom of speech and press freedom."
Lai Chee-ying undermined the fundamental interests of the country and the well-being of Hong Kong citizens
The spokesperson reiterated, "Lai Chee-ying has long been using his media outlet, Apple Daily, to wantonly create social conflicts, incite social antagonism, incite hatred, glorify violence and openly beg for foreign sanctions against China and the HKSAR, attracting external interference. He has harmed the fundamental interests of the country and the well-being of the people of Hong Kong; his actions are shameful and his intentions malicious. His wanton crimes were committed in full view of the public and the evidence is compelling. The court's conviction demonstrates that righteousness is upheld by the law and the core values of Hong Kong are safeguarded. The law never allows anyone, regardless of profession or background, to harm their country and compatriots under the guise of human rights, democracy, and freedom.
"The HKSAR has a responsibility to safeguard national security and will resolutely combat acts and activities endangering national security. Hong Kong is underpinned by the rule of law and the HKSAR Government is committed to ensuring that laws are observed and strictly enforced so as to bring offenders to account. We will do our utmost to prevent, suppress and impose punishment for acts and activities endangering national security to fulfil this perfectly justified responsibility."
Source: AI-found images
