Hong Kong exports jump by 11% in December, but full-year figure still down by 7.8%

“Looking ahead, factors including heightened geopolitical tensions and slowing global economic growth will continue to weigh on Hong Kong’s export performance in the near term,” a government spokesman said. “The government will monitor the situation closely.”

The 7.8 per cent decline for 2023 was still slightly better than the 8.6 per cent drop recorded in 2022 when Hong Kong was in the grip of the Covid-19 pandemic.

Hong Kong exports grew by 1.4 per cent in October, ending 17-month decline

Imports decreased by 5.7 per cent last year compared with 2022, leaving the city with a trade deficit of HK$467.6 billion, equivalent to 10.1 per cent of the value of imports of goods.

The government spokesman said December’s 11 per cent rise in exports came with a low base of comparison, while exports to the United States and mainland China rose by 25.6 per cent and 8.4 per cent, respectively, from a year ago.