FX.co ★ Hong Kong's Export Growth Slows in November, Dropping to 2.1%

Hong Kong’s export growth saw a noticeable slowdown in November 2024, with the annual rise in export figures edging down to 2.1%, according to the latest data released on December 30, 2024. This marks a reduction from the 3.5% growth recorded in October, reflecting a significant deceleration in the city's outward trade activities.

This deceleration follows a modest expansion in October, which had seen a comparative month-over-month growth of 3.5% from September 2024. The November figures, however, indicate a month-over-month dip, suggesting that external demand pressures and possibly shifting trade dynamics influenced Hong Kong's export market performance.

The update on these figures, while showing a positive growth trajectory overall, emphasizes the challenges Hong Kong faces in sustaining its export growth momentum amidst fluctuating global trade conditions. Economists will be closely watching for implications on the broader economic outlook, as these figures are key indicators of the ongoing health of the region’s vibrant trading economy.