Figures released by the Census and Statistics Department on Tuesday showed that the value of the city’s outbound shipments stood at HK$618.4 billion, compared with the HK$408.8 billion seen in February when the year on year increase stood at 24.7 percent.
It also marked the fastest rise since January 2021.
Meanwhile, the value of imported goods rose by 41.2 percent year on year in March to HK$707.5 billion, after an annual increase of around 30 percent a month earlier.
The latest figures left the city with a trade deficit of HK$89.1 billion, or about 12.6 percent of the value of imports of goods, in March.
Commenting on the figures, a government spokesperson noted the city’s exports “continued to stage a strong performance” during the period, but warned about the outlook ahead.
“The heightened geopolitical tensions in the Middle East have led to an upsurge in international energy prices, posing downside risk to the near-term global economic outlook, with potential disruptions to global trade flows and supply chains,” the spokesperson said.
“Nonetheless, global demand for AI-related electronic products remains robust and should provide staunch support to the performance of Hong Kong’s merchandise exports.”
