New DHL Trade Atlas: Hong Kong demonstrates strength in trade, securing top spot in total trade value for 2024
The city grabs the sixth spot globally in terms of trade volume change, amounting to US$212.7 billion, from 2024 to 2029
HONG KONG SAR - Media OutReach Newswire - 17 March 2025 - DHL and the New York University Stern School of Business have released the DHL Trade Atlas 2025, providing a comprehensive analysis of the most important trends in global trade. Hong Kong has attained top spots globally, indicating its strength in trade value and volume in nearly 200 countries and territories around the world. Hong Kong ranks seventh in total trade value in 2024, amounting to US$1.3 trillion.
The report also indicates two dimensions of forecast trade growth: speed, which captures how fast a market's trade volume is expanding; and scale, which tracks the absolute change in the amount of goods traded by a market. Hong Kong has secured the sixth spot globally on the scale dimension – amounting to US$212.7 billion, from 2024 to 2029, together with other growing Asian markets, such as India and Vietnam. Hong Kong is forecast to maintain a 3.1% compound annual trade volume growth rate over the 2024 – 2029 period.
According to the report, Hong Kong's top export destination from 2018 to 2023 was mainland China (57 percent), followed by the United States (6.8 percent) and India (3.1 percent). Meanwhile, nearly half of the city's import within the same period came from mainland China (43 percent). Eight out of the top ten of Hong Kong's export and import destinations from 2018 to 2023 were within Asia or in the Middle East.
'Hong Kong, recognized as a leading international financial and trade hub, has demonstrated strength in both trade value and volume,' said Andy Chiang, Senior Vice President and Managing Director - Hong Kong and Macau, DHL Express. 'As trade within Asia increases, Hong Kong serves as a vital gateway between mainland China and the rest of the world, maintaining strong connections with its Asian counterparts. We are well-positioned to meet the rising trade demand through recent strategic investments, including the inauguration of our Hong Kong West Service Center, the expansion of the Central Asia Hub at Hong Kong International Airport, and new direct flights from Hong Kong to Jakarta and Sydney. These initiatives will enable us to better serve our customers and capitalize on the growing opportunities in the region.'
Key Takeaways: Unveiling Growth, Transformative Shifts, and the Impact of Trade Policies
The DHL Trade Atlas measures changes in countries' and regions' shares of world trade. Among the key take-aways:
Faster trade growth, greater uncertainty: Recent forecasts predict global goods trade will grow at a compound annual rate of 3.1% from 2024 to 2029. This roughly aligns with GDP growth and represents modestly faster trade growth compared to the previous decade. However, record high uncertainty about future trade policies clouds the outlook.
Trump tariff impact: Even if the new U.S. administration implements all of its proposed tariff increases and other countries retaliate, global trade is still expected to grow over the next five years – but at a much slower pace.
Made-in-China content finding new routes to U.S.: Direct U.S.–China trade has fallen from 3.5% of world trade in 2016 to 2.6% over the first nine months of 2024. However, U.S. reliance on made-in-China content has not declined substantially. U.S. imports from other countries contain more inputs from China, and U.S. direct imports from China may be underreported.
New record in long-distance trade as Asia becomes central to global production networks: Contrary to predictions that recent disruptions would lead to more regionalized trade patterns, trade took place over the longest average distance on record during the first nine months of 2024 (5,000 km). The share taking place inside major geographic regions declined to a new low (51%). This development can be attributed to the fact that Europe and North America have increasingly traded with Asia, as 'Factory Asia' becomes central to global production networks.
New leaders in trade growth: India, Vietnam, Indonesia, and the Philippines: Between 2024 and 2029, these four countries are forecast to rank among the top 30 for both speed (growth rate) and scale (absolute amount) of trade growth. India also stands out as the country with the third largest absolute amount of forecast trade growth (6% of additional global trade), behind China (12%) and the United States (10%).
Global geopolitical shifts limited: Geopolitically driven shifts in global trade patterns remain limited and appear to have stalled in 2024. While trade between blocs of close allies declined relative to trade within these blocs in 2022 and 2023, there were no further declines over the first nine months of 2024.
Standout regions: At the level of major world regions, the fastest trade volume growth from 2024 to 2029 is forecast for South & Central Asia, Sub-Saharan Africa, and the ASEAN countries – with compound annual growth rates between 5% and 6%. All other regions are forecast to grow at rates of 2% to 4%.
Reasons for optimism in the face of U.S. policy shifts
The DHL Trade Atlas 2025 outlines several reasons for optimism about the future of global trade despite a turn toward more restrictive U.S. trade policies. Most countries continue to pursue trade as a key economic opportunity, and U.S. trade barriers could strengthen ties among other countries. Also, many of Trump's tariff threats may end up different than originally proposed or delayed to prevent a spike in domestic inflation. Moreover, the U.S. share of world imports currently stands at 13%, and its share of exports is 9% – enough for U.S. policies to have substantial effects on other countries but not enough to unilaterally determine the future of global trade.
The DHL Trade Atlas 2025
The DHL Trade Atlas 2025 features a wealth of data-driven insights and analysis on global trade and its prospects. It is an up-to-date resource for business leaders, policymakers, educators, students, media, and the interested public. It includes concise one-page profiles summarizing the trade patterns of nearly 200 countries and territories that comprise over 99% of world trade, GDP, and population.
The free interactive content available at dhl.com/tradeatlas is a new feature of the report. The website enables users to customize analyses and explore trade trends by specific countries, regions, and categories of goods. Additionally, it offers convenient options for downloading data and images.
The report was commissioned by DHL and authored by Steven A. Altman and Caroline R. Bastian of New York University Stern School of Business. It was finalized in February 2025 using data and forecast updates through January 2025.
The DHL Trade Atlas 2025 is available at dhl.com/tradeatlas.
The issuer is solely responsible for the content of this announcement.
DHL – The logistics company for the world
DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With approximately 400,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as 'The logistics company for the world'.
DHL is part of DHL Group. The Group generated revenues of approximately 84.2 billion euros in 2024. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.
New York University Stern School of Business
New York University Stern School of Business, located in the heart of Greenwich Village and deeply connected to the City after which it is named, is one of the United States' premier management education schools and research centers. NYU Stern offers a broad portfolio of transformational programs at graduate, undergraduate, and executive levels, all of them enriched by the dynamism and profound resources of one of the world's business capitals. NYU Stern is a welcoming community that inspires its members to embrace and lead change in a rapidly transforming world. Visit www.stern.nyu.edu.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
The Next Step: Can a millionaire store clerk retire at 55?
There's low-cost living, and then there's the freegan-living millionaire featured in this edition of The Next Step, Financial Planning's newest series. The series explores one simple question: What's the single most impactful move someone can make toward a stronger retirement? Here's how it works: We invite Americans to share basic details about their savings, income and goals. We anonymize their data and present it to professional financial advisors, asking what one step could make the biggest difference. READ MORE:The Next Step: Is this young lawyer on track to retire?As insurers axe Medicare plans, here's what advisors should knowTrump order opens 401(k)s to private assets: What advisors need to knowBetting on bitcoin is the smart move for financial advisors Each edition features one individual's story and practical advice from advisors. In this installment, we heard from a 42-year-old store clerk in Caldwell, Idaho. Here's how his finances stack up against the average American his age. The saver makes just about $37,000 a year, roughly 47% less than the median full-time worker in his age range. Currently, 60% of his income goes toward retirement savings. After taxes and withholdings, he receives $2,500 in monthly income, more than enough to cover his average monthly expenses of $900. Despite having a lower income than the typical American his age, the saver owns his home and has no debt. That puts him well ahead of the median debt figure for someone in his age bracket. The typical American between 35 and 44 years old reports a median debt figure of just over $140,000. "I purchased a home when I was 23 — when someone like me, making $12 per hour, could purchase a home," the saver said. "And have since paid it off." Along with owning his home, the saver keeps costs down by practicing freeganism, a lifestyle focused on cutting consumption and reducing food waste. Freegans often rely on discarded goods, using practices like dumpster diving, foraging, bartering and sharing. The saver has $1.1 million stowed away for retirement, nearly 25 times more than the median adult in his age range. About 20% of that is in pretax retirement accounts, while the other 80% is evenly split between Roth accounts and nonqualified accounts. Based on his current income and contribution rate, he saves about $1,850 every month toward retirement. His journey to this point wasn't linear. On the path to becoming a millionaire, he faced a handful of significant financial setbacks. He invested in his employer and lost everything when the company restructured, he said. After the housing crisis, he put significant money into mortgage-backed REITs, only to lose most of it. One of his earliest investments, General Motors at age 18, was wiped out when the automaker went bankrupt in 2009. Still, he said he's had some sizable successes as well. He purchased Meta on its IPO day and added Nvidia shares to his portfolio a few years ago. He also bought a few bitcoins at $400. Although he sold half of them in 2019, he has held onto the rest. "I did all this while never making over $20 per hour at my job," he said. "It has been a kind of wild adventure accumulating something for the future." The saver said he wants to retire at 55, with plans to spend slightly less per month than he currently does. Based on his desired retirement age, FP projected how much money he can expect to have at 55, given a $1.1 million starting base and a monthly contribution of $1,850. In the calculation, FP assumes an average inflation-adjusted return of 7%. General savings guidelines suggested by Fidelity Investments recommend having savings equaling one year of your annual salary by age 30, with the goal of having 10 times your annual salary saved by age 67. With current savings far beyond Fidelity's milestones, the saver said he's very confident about his ability to retire. The saver also said he does not have a spouse with whom he shares a retirement strategy, or any children. Based on the information he shared, Financial Planning asked advisors: "What single step could make the biggest difference in this person's retirement readiness?" Here's what they said: Responses have been edited for length and clarity. Bridging the gap for an early retirement John Power, principal of Power PlansThe most important thing he can do is refine his income needs in retirement based on what he wants retirement to look like. Retiring at 55 means he will need private health insurance for 10 years until he is Medicare eligible, and it can be quite expensive. He also needs to craft a withdrawal plan for the next five years to avoid penalties, then the next several years until he chooses when to claim Social Security. Jamie Ebersole, founder of Ebersole FinancialThe significant challenge will be that the individual will have no steady income stream starting at the age of 55, which means there is a significant gap between the time that he will be able to take Social Security payments and when it will be optimal to start drawing down on retirement accounts. So finding a way to fund the years from 55 to 67 or 68 will be critical. This usually is most tax efficient when assets are taken from taxable accounts, so building up those balances in addition to retirement accounts will be important for this interim period. Switching investment gears Carlos Salmon, partner at Wooster Square AdvisorsThe key next step is to move from aggressive growth to a more balanced and risk-aware strategy. He should consider converting pretax funds to a Roth account for better tax efficiency and plan ahead for health care costs before he becomes eligible for Medicare. In short, what got him to this point won't necessarily carry him through the next phase. Figuring out what retirement could look like Michael Espinosa, president of TrueNorth RetireThe single biggest thing this individual can do to prepare for retirement has little to do with money. This person needs to make sure that he has purpose, so that he is retiring to something and not just from something. I could give some specific pointers around optimizing his portfolio, and making sure he is prepared for medical coverage and all that good stuff, but I have seen where good savers have a hard time flipping the switch to spending. This, above all else, needs to get worked out: envisioning how he will spend his time, energy and focus once work is optional. Jamie Ebersole, founder of Ebersole FinancialObviously, he has done a great job of saving up to this point in his life. With what can be seen as a modest amount of income, he has been able to accumulate a very significant pool of assets for retirement. The next big step is to psychologically prepare for what it means to live in retirement. With a target retirement age of 55 and another 13 years to go until he wishes to retire, there's plenty of time to accumulate additional assets and to develop a plan for what retirement may look like. The key to successful retirement will be figuring out what he wants to do and how to budget for that. Psychologically, it can be very difficult to go from working to retirement if there is no plan in place that lays out what retirement would look like. I would suggest that the individual take some time to really think about what he wants to do when he retires and then try it out. He may also consider working part-time in order to stay active and smooth the transition. Lindsey Young, founder of Quiet WealthThe question is: Given the large amounts of savings relative to his lifestyle, what kind of retirement would this person like to have? Maybe he enjoys living a modest life, and in that case an earlier retirement is something to discuss. But it's also possible that he might want to buy a house, move to a larger house, go on trips, support family members or increase his charitable giving. Or maybe this person simply enjoys his work and would want to keep working even if he has enough money to retire today. In this situation, the right financial steps depend greatly on what this person's vision is for the next 10-20 years. That is why the best next step for this person is working with a financial planner to understand how different life paths would likely play out financially. For people who surprisingly find themselves being able to retire sooner rather than later, exploring different life options through a financial lens plays an invaluable role in clarifying a life vision for the coming years, which then can lead to the development of recommended financial actions. Ready to contribute? Financial advisors who are interested in contributing to future editions of The Next Step can submit their names and emails below, and Financial Planning will contact them when there is another opportunity to participate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 minutes ago
- Yahoo
Crypto exchange Gemini makes US IPO filing public
(Reuters) -Cryptocurrency exchange Gemini, founded by billionaire twins Tyler and Cameron Winklevoss, on Friday made public its paperwork for a U.S. initial public offering, joining a wave of digital asset companies seeking to tap public markets. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Chicago Tribune
14 minutes ago
- Chicago Tribune
President Donald Trump's tax law could cause Medicare cuts if Congress doesn't act, CBO says
WASHINGTON — The federal budget deficits caused by President Donald Trump's tax and spending law could trigger automatic cuts to Medicare if Congress does not act, the nonpartisan Congressional Budget Office reported Friday. The CBO estimates that Medicare, the federal health insurance program for Americans over age 65, could potentially see as much as $491 billion from 2027 to 2034 if Congress does not act to mitigate a 2010 law that forces across-the-board cuts to many federal programs once legislation increases the federal deficit. The latest report from CBO showed how Trump's signature tax and spending law could put new pressure on federal programs that are bedrocks of the American social safety net. Trump and Republicans pledged not to cut Medicare as part of the legislation, but the estimated $3.4 trillion that the law adds to the federal deficit over the next decade means that many Medicare programs could still see cuts. In the past, Congress has always acted to mitigate cuts to Medicare and other programs, but it would take some bipartisan cooperation to do so. Democrats, who requested the analysis from CBO, jumped on the potential cuts. 'Republicans knew their tax breaks for billionaires would force over half a trillion dollars in Medicare cuts — and they did it anyway,' said Rep. Brendan F. Boyle, the top Democrat on the House Budget Committee, in a statement. 'American families simply cannot afford Donald Trump's attacks on Medicare, Medicaid, and Obamacare.' Hospitals in rural parts of the country are already grappling with cuts to Medicaid, which is available to people with low incomes, and cuts to Medicare could exacerbate their shortfalls. As Republicans muscled the bill through Congress and are now selling it to voters back home, they have been highly critical of how CBO has analyzed the bill. They have also argued that the tax cuts will spur economic growth and pointed to $50 billion in funding for rural hospitals that was included in the package.
