According to the Census and Statistics Department of External Merchandise Trade Statistics released by the HKSAR on the 13th, the volume of Hong Kong’s total exports and imports of goods 2024 by 7.6% and 3.7% respectively in the first half of the year.
Statistics showed that in the first half of the 2024 year, the prices of total exports and imports of goods increased by 4.2% and 3.8% respectively. On a seasonally adjusted basis, the volume of Hong Kong’s total exports and imports of goods 2024 by 1.7% and 0.4% respectively in the second quarter from the preceding quarter.
Hong Kong economist and president of the Silk Road think tank institute, Liang Haiming, said that Hong Kong’s foreign trade performance has maintained steady growth, thanks to a combination of internal and external factors. The sustained recovery of the mainland economy and the growth of domestic demand are important drivers of Hong Kong’s export growth. In addition, the central government has introduced a series of policy measures to support the development of foreign trade, it also provides more convenience and concessions for Hong Kong goods to enter the mainland market. The external factor is that with the gradual recovery of the global supply chain, Hong Kong’s re-export trade function can be strengthened, promoting the increase of import and export volume.
Looking ahead, Liang Haiming believes that Hong Kong’s commodity import and export outlook is optimistic, is expected to continue to maintain a stable growth trend. In the future, Hong Kong should also explore more new areas and modes of co-operation with the mainland, such as cross-border e-commerce and trade in services, to further expand market space and growth potential, and expand exports to the mainland.