Exports from Hong Kong soared by 35.8% year-on-year to an all-time high of $61.8 billion, accelerating from a 24.7% gain in the previous month. It marked the strongest annual growth since January 2021, primarily driven by solid shipments of electrical machinery, apparatus and appliances, and electrical parts thereof (47.9% vs 30.8% in February), telecommunications and sound recording and reproducing apparatus and equipment (94.7% vs 41.5%), and power generating machinery and equipment (35.9% vs 4.4%). Meanwhile, exports slowed for office machines and automatic data processing machines (5% vs 7%), miscellaneous manufactured articles (28.4% vs 52.3%), and non-ferrous metals (175.9% vs 289.4%). Shipments to Asia grew 37.8%, led by Singapore (125%), Malaysia (62.3%), and Thailand (61.7%). Other key destinations included the USA (80.8%) and the Netherlands (37.1%). In contrast, exports declined to the UK (-29.1%).