Hong Kong’s exports will grow by four percent in the next year, according to a forecast by the Hong Kong Trade Development Council (HKTDC). The council on Thursday said with US president-elect Donald Trump taking office next month, global trading conditions may change drastically and Hong Kong will also be affected. "What the US has announced is not just tariffs on the Hong Kong or mainland-origin goods, but more towards its major trading partners. That would be potentially a significant negative impact on global trade," HKTDC's director of research Irina Fan said. She said some exporters arranged front-loading of shipments recently due to the uncertainties, so exports in the first half of 2025 are expected to be stronger than in the second half. "It could be like... you have a quite booming first half, but into the second half, given we have front-loading behaviour already starting this quarter, we could have a very sluggish fourth quarter," Fan said. The HKTDC said Hong Kong's exports grew by about 10 percent in the first 10 months of this year, and a strong recovery of electronics exports largely attributed to the growth. It said electronics had a more than 70 percent share of the city's merchandise exports, marking a 13 percent increase year-on-year. Fan said electronics will continue to play an important role in the SAR's exports next year, given the consistent demand for AI-enabled systems.
