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In recent years, the international trade landscape has been rapidly evolving. While the traditional European and United States (US) markets remain important to Hong Kong's exports of goods, their shares have seen notable declines. For instance, the share of exports to the US dropped from 18.6% in 2003 to 6.5% last year, and that to the European Union also dropped from 10.5% to 6.6% over the same period. On the other hand, the share of exports to the Association of Southeast Asian Nations rose from 6.1% in 2003 to 7.9% last year, making the group of countries Hong Kong's second largest export market after the Mainland. The share of exports to the Middle East also rose to 3.3%.
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