Trade value to mainland dampens in 2023

Total exports to the mainland are 6.5% YoY.

Hong Kong's total exports and imports both contracted in 2023, despite showing a robust fourth-quarter (Q4'23) performance.

For 2023, Hong Kong’s total exports to the mainland for outward processing amounted to $396.3b, a decrease of 14.3% year-on-year (YoY), whereas total imports saw a decrease of 6.8% YoY to $592.5b, according to a report released by the Census and Statistics Department (C&SD).

Hong Kong’s total re-exports for the whole year amounted to $679.5b, representing a decrease of 10.5% YoY.

ALSO READ: Exports value climbs 33.6% YoY to $388.7b in January 2024

The value of exports and imports to Mainland China increased in Q4'23 versus the previous year.

Hong Kong’s total exports to the mainland accumulated $115b, which were for outward processing, showing an increase of 6.5% year-on-year (YoY).

The total value of imports from the mainland connected to outward processing increased by 7.5% YoY to $164.8b.

Hong Kong’s re-exports of mainland origin were valued at $175.8b, representing a decrease of 1.1% YoY.

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