Hong Kong Exports Soar on U.S. and Southeast Asia Demand
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Hong Kong’s exports jumped 17.5% in October from a year earlier, handily beating expectations as strong demand from the U.S. and Southeast Asia helped offset softening trade with the Chinese mainland.
The city shipped out goods worth HK$461.8 billion ($59.3 billion) during the month, the Census and Statistics Department said Tuesday. The growth accelerated from 16.1% in September and far exceeded the 10.7% consensus forecast. Imports also surged 18.3% to HK$501.7 billion.
The better-than-expected performance underscores how Hong Kong continues to benefit from cooling tensions between Washington and Beijing and a sustained appetite for electronics globally. Exporters are also increasingly leaning on Southeast Asian supply routes to navigate ongoing tariff risks.
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- Hong Kong's exports surged 17.5% year-on-year in October 2023 to HK$461.8 billion, beating forecasts, with strong growth to the U.S. (+40.5%) and Southeast Asia.
- The rise was driven by front-loaded shipments ahead of potential U.S.-China tariff changes; electronics exports grew 16.1%.
- Export confidence is up, with the 2024 outlook revised to 7-9% growth, though expansion is projected to slow to around 5% in 2026.
- Dah Sing Financial Group
- Dah Sing Financial Group is an organization where Gary Wan works as the chief economist and strategist. Wan provided insights into Hong Kong's export performance, noting that improvements in shipments to the U.S. and key Asian economies helped offset weaker demand from the Chinese mainland. He also forecasts Hong Kong's export growth for 2025 and 2026.
- Hong Kong Trade Development Council
- The Hong Kong Trade Development Council's export confidence index rose to 54.3 in the third quarter, an increase from 49 in the prior period. The agency also revised its full-year export growth outlook to 7% to 9%.
- August 11, 2025：
- U.S. President Donald Trump suspended planned tariff increases on Chinese imports; Beijing halted planned retaliatory measures.
- September 2025：
- Hong Kong’s export growth was 16.1%, preceding October's acceleration.
- Third quarter of 2025：
- Hong Kong Trade Development Council's export confidence index rose to 54.3, up from 49 in the prior period.
- October 2025：
- Hong Kong’s exports jumped 17.5% year-over-year, with goods valued at HK$461.8 billion shipped out.
- January 2025 through October 2025：
- Hong Kong’s total exports rose 13.8% compared with the same period a year earlier, marking 20 straight months of expansion.
- October 30, 2025：
- A bilateral meeting between the U.S. and China took place, continuing the trade thaw.
- October 31, 2025：
- China’s Ministry of Commerce announced the U.S. would cancel a 10% fentanyl tariff on Chinese goods and extend a 24% tariff suspension by another year.
- Tuesday, November 25, 2025：
- Hong Kong Census and Statistics Department reported October 2025 trade figures.
- By November 10, 2025：
- Expiration date for the temporary U.S.-China tariff cease-fire.
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