Hong Kong rises to the world's fifth-largest merchandise trading economy

According to the World Trade Organization’s report titled “World Trade Outlook and Statistics,” in 2025, Hong Kong is the world’s fifth-largest merchandise trading economy, rising by two places from the previous year. Total merchandise trade increased year on year by 17.5% to US$158.5 billion, accounting for 3% of the global total.

According to the report, last year Hong Kong was the world’s fifth-largest merchandise trading economy, ranking fifth in merchandise exports and sixth in merchandise imports, with both rising by three places compared with 2024.

Globally, the top ten merchandise trading economies in 2025 are broadly the same as in 2024. Mainland China, the United States, Germany, and the Netherlands remain the top four. Hong Kong rises two places to fifth, followed by the United Kingdom, Japan, France, Italy, and Mexico respectively.

In 2025, Hong Kong is the 22nd-largest economy in global trade in commercial services. In commercial services exports it ranks 23rd, and in commercial services imports it ranks 25th; both remain unchanged from 2024. Total trade in commercial services amounts to US$211.0 billion, accounting for 1.2% of the global total, up 6.6% year on year.

Building on last year’s strong momentum, the territory’s external merchandise trade continued to perform robustly at the beginning of this year. In February 2026, the value of Hong Kong’s total exports and imports increased by 24.7% and 29.9%, respectively. If January and February are combined, the value of total exports rose by 29.6% year on year, while the value of goods imports increased by 34.1%.

The Secretary for Commerce and Economic Development, Mr. Chiu Ying-wah, said that the report fully demonstrates that, notwithstanding the various challenges brought by geopolitical tensions and trade protectionism over the past year, Hong Kong’s external trade has shown strong resilience, ranking fifth globally among merchandise trading economies, with achievements that are encouraging.

He pointed out that Hong Kong has all along pursued free trade, firmly supports and safeguards a rule-based multilateral trading system, and provides trade partners with a market that is predictable and transparent. In addition, Hong Kong makes full use of the institutional advantages under “one country, two systems,” as well as a highly internationalized business environment, becoming one of the most important and most flexible gateways for commerce and trade in the region. The HKSAR Government will continue to do its utmost to promote trade, focusing on strengthening efforts to help Mainland enterprises go global through Hong Kong as a platform, tapping new sources of economic growth, and playing Hong Kong’s roles as a “super connector” and a “super value-adder.”