Hong Kong’s jewellery exports stayed in negative territory in February, demonstrating a persistent weakness in the jewellery industry.

Data from the city’s Census and Statistics Department showed exports of jewellery, goldsmiths’ and silversmiths’ wares dipped 4.3 per cent to HK$14.23 billion (around US$1.83 billion) while combined January and February figures were down 4.8 per cent to HK$33.19 billion (approximately US$4.26 billion).

Imports were also in the red, recording a 1.9 per cent decline in February to HK$25.32 billion (about US$3.25 billion). 

Meanwhile, overall exports rose 15.4 per cent in February to HK$327.9 billion (around US$42.17 billion). Imports reached HK$364.22 billion (roughly US$46.83 billion), up 11.8 per cent from last year.

The government said Hong Kong’s merchandise exports generally performed strongly in early 2025. “Exports to the mainland China increased visibly, and those to many other Asian markets also increased. Exports to the US rose marginally, while those to the European Union declined,” a government spokesman said.

Hong Kong, however, is wary about new tariff measures introduced by US President Donald Trump, adding that uncertainties surrounding such protectionist policies could pose challenges to Hong Kong’s export business. 

Trump earlier announced tariffs of around 20 per cent on top of an existing 10 per cent duty on China. New tariffs also came into effect for major US trading partners Canada, Mexico and the European Union.