Volume and price statistics of external merchandise trade in February 2026
Further to the external merchandise trade statistics in value terms for February 2026 released earlier on, the Census and Statistics Department (C&SD) released today (April 16) the volume and price statistics of external merchandise trade for that month.
Due to the difference in timing of the Chinese New Year holidays, it is more appropriate to analyse the trade figures for January and February taken together in making year-on-year comparison.
Comparing the first two months of 2026 with the same period in 2025, the volume of Hong Kong's total exports of goods and imports of goods increased by 25.0% and 29.1% respectively.
In February 2026, the volume of Hong Kong's total exports of goods and imports of goods increased by 19.5% and 23.9% respectively over February 2025.
Comparing the three-month period ending February 2026 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 14.4% and 15.5% respectively.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
As regards price changes in the first two months of 2026 over the same period in 2025, the prices of total exports of goods and imports of goods increased by 3.6% and 3.7% respectively.
Comparing February 2026 with February 2025, the prices of total exports of goods and imports of goods increased by 4.2% and 4.3% respectively.
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 2025, the index decreased by 0.1% in February 2026, whereas it remained virtually unchanged in the first two months of 2026.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing February 2026 with February 2025, increases were recorded for the total export volume to all main destinations: the USA (36.2%), Taiwan (26.3%), Chinese Mainland (the Mainland) (16.1%), Vietnam (15.9%) and India (14.8%).
Over the same period of comparison, the total export prices to all main destinations increased: Taiwan (5.6%), the Mainland (4.8%), India (4.6%), the USA (2.9%) and Vietnam (2.4%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing February 2026 with February 2025, increases were recorded for the import volume from all main suppliers: Korea (90.5%), Vietnam (63.0%), the Mainland (23.1%), Singapore (14.9%) and Taiwan (2.8%).
Over the same period of comparison, the import prices from all main suppliers increased: Korea (9.7%), Taiwan (6.4%), the Mainland (4.1%), Vietnam (2.7%) and Singapore (1.6%).
Further information
Details of the above statistics are published in the February 2026 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: 3863 2599).
The Census and Statistics Department (C&SD), Photo source: reference image
