(Opportunity Hong Kong) Hong Kong’s overall merchandise export volume increased by 36.1% year-on-year in September, and trade conditions further improved.

China News Service, Hong Kong, November 12 (Reporter Zhang Yuqia) The latest external merchandise trade volume and price statistics released by the Census and Statistics Department of the Hong Kong SAR Government on the 12th showed that Hong Kong's overall export and import volume of goods in September increased by 36.1% and 30.7% year-on-year respectively, and export and import prices increased by 20.3% and 19.7% respectively year-on-year. At the same time, after seasonality adjustment, export and import volumes in the third quarter increased by 1.8% and 1.0% respectively from the previous quarter. The trade price ratio index increased by 0.5% year-on-year.

Chung Qifeng, a member of the Hong Kong SAR Legislative Council for the import and export sector, believes that the data reflects the continued expansion of Hong Kong’s foreign trade at the quarterly level and the further improvement of overall trade conditions.

He analyzed that thanks to the continued strong global demand for artificial intelligence-related electronic products and technology equipment, Hong Kong's export volume to many major markets recorded substantial growth in September. Among them, the volume of goods exported to Taiwan, China increased by 120.5%, and exports to the United States increased by 90.1%. At the same time, the price of export goods to mainland China increased by 23.8% year-on-year, ranking first among major destinations.

In terms of imports, import volumes and import prices from all major supply locations recorded double-digit increases. Among them, the import volume from South Korea and Vietnam surged, by 118.2% and 73.6% respectively; the import prices from South Korea and Taiwan, China increased by 50.8% and 29.4% respectively. Zhong Qifeng believes that the data reflects that the cost of upstream procurement and overall imported goods continues to be high, which poses a certain test to the procurement cost control and capital turnover of small and medium-sized enterprises.

Chung Qifeng suggested that the Hong Kong SAR government should further strengthen digital empowerment and financial support, accelerate the promotion of electronic trade, and deepen the application of "trade single window" and electronic documents to improve customs clearance efficiency. He believes that the industry will make good use of Hong Kong’s unique advantages of being “backed by the motherland and connected to the world”, closely follow the direction of the country’s “15th Five-Year Plan” and Hong Kong’s first five-year plan, and consolidate Hong Kong’s status as a “high value-added supply chain service center”.