Hong Kong secures seventh place in global trade value for 2024

Hong Kong, recognized as a major global financial and trade hub, continues to demonstrate its strength in international trade. According to the DHL Trade Atlas 2025, released on March 17, 2025, Hong Kong ranks seventh in total trade value for the year 2024 with a record of US$1.3 trillion. The report highlights the city's trade volume change, which is the sixth highest globally, indicating a significant growth outlook. Over the 2024 to 2029 period, Hong Kong is projected to maintain a compound annual trade volume growth rate of 3.1%, affirming its competitive position against other economies. From 2018 to 2023, mainland China was Hong Kong's top export destination, accounting for 57% of total exports, while the United States and India followed with 6.8% and 3.1%, respectively. This data underscores the importance of Asia and the Middle East as key trade partners for Hong Kong, with eight of the top ten destinations for exports and imports being located in these regions. The significance of Hong Kong in global trade dynamics is further emphasized by the city's diverse trade relationships, enabling it to effectively respond to changes in international trade patterns. In the context of global trade, recent forecasts predict a compound annual growth rate of 3.1% in worldwide goods trade from 2024 to 2029. Despite potential disruptions due to new U.S. trade policies, which include proposed tariff increases, the overall expectations for trade growth remain positive. The impact of these policies might slow trade growth, but it is unlikely to stop it entirely. New trading routes have emerged, particularly for goods made in China, redirecting products to the U.S. despite a decline in direct trade volumes. The DHL Trade Atlas report also mentions the rising importance of countries such as India, Vietnam, Indonesia, and the Philippines, which are projected to feature among the top 30 nations for trade growth in both rate and volume within the same 2024 to 2029 timeframe. As Hong Kong solidifies its role as a primary conduit for trade in the region, its strategic initiatives and investments in logistics and trade infrastructure will be critical in leveraging the growing opportunities presented by these emerging markets. This comprehensive analysis reflects the evolving landscape of global trade, shaping future economic interactions across various regions.