The value of Hong Kong’s merchandise exports increased markedly further by 17.5 percent in October over a year earlier, thanks to robust growth in exports to the city’s most major markets, data showed on Tuesday.

The value of total exports of goods hit HK$461.8 billion last month, after a year-on-year increase by 16.1 percent in the previous month, according to external merchandise trade statistics released by the Census and Statistics Department.

Meanwhile, imports of goods during the month recorded an 18.3 percent increase over the same month last year to HK$501.7 billion, after a year-on-year increase by 13.6 percent in September, the data showed.

A visible trade deficit of HK$39.9 billion, equivalent to 8.0 percent of the value of imports of goods, was recorded in October.

Analyzed by commodity, exports of most major commodities increased, particularly for exports of electrical equipment, machinery, and mechanical appliances, which sustained strong growth, said a government spokesman.

Over the same period, increases were seen in imports of most principal commodity divisions, in particular electrical machinery, apparatus and appliances, and office machines and automatic data processing machines.

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For the first 10 months of this year as a whole, the value of total exports of goods rose by 13.8 percent over the same period last year, while concurrently, the value of imports of goods increased by 13.6 percent.

An analysis by country and territory shows that total exports to Asia as a whole grew by 15.6 percent last month compared with October 2024. Increases were seen in exports to most major destinations, particularly Malaysia (+139.4 percent), Vietnam (+56.0 percent), China’s Taiwan (+50.2 percent), India (+31.8 percent), and the Chinese mainland (+9.8 percent).

Increases were seen in the values of exports to most major destinations in other regions, in particular the Netherlands (+56.8 percent) and the United States (+40.5 percent).

Over the same period of comparison, increases were seen in the values of imports from most major suppliers, particularly Vietnam (+189.1 percent), the United Kingdom (+55.7 percent), Malaysia (+25.1 percent), Singapore (+20.8 percent), and the mainland (+18.4 percent).

Meantime, a decrease was recorded in the value of imports from the US (-10.4 percent).

The government spokesman said sustained moderate growth of the global economy, coupled with recent easing in external trade policy uncertainty and persistent demand for electronics-related products, should be conducive to the city’s merchandise trade growth in the near term.

The government's ongoing effort to enhance Hong Kong’s economic and trade ties with different markets will also continue to provide support, the spokesman said, adding that the lingering impacts of trade barriers still warrant attention.