Hong Kong June Exports Jump 53.4% on AI Demand Despite New US Tariffs
Key Takeaways
- •Hong Kong’s merchandise exports increased 53.4% year on year in June 2026 to HK$641.1 billion.
- •Total exports for the first half of 2026 rose 39.1% from a year earlier to HK$3,416.0 billion.
- •The HKTDC said demand for electronics linked to faster AI adoption was a key driver of export growth.
- •The United States imposed new tariffs on imports from 60 trading partners, including Hong Kong and the Chinese Mainland, with a 12.5% rate applying to them from July 24, 2026.
- •The HKTDC said export growth may moderate in coming months but maintained its forecast for more than 20% full-year export growth in 2026.
Hong Kong’s merchandise exports rose 53.4% year on year to HK$641.1 billion in June 2026, according to data released by the Census and Statistics Department. For the first half of 2026, total exports reached HK$3,416.0 billion, up 39.1% from the same period last year, supported by global demand for electronics amid rapid adoption of artificial intelligence (AI), the Hong Kong Trade Development Council (HKTDC) said.
Bruce Pang, Director of Research at the HKTDC, said: “Hong Kong’s exports sustained robust growth in the first half of 2026, underpinned by strong demand for electronics amid the accelerated adoption of artificial intelligence worldwide.” He added that year-on-year growth rates to Asia, the Chinese Mainland and the USA accelerated in June compared with May.
The June figures come as trade conditions are shifting on multiple fronts. Effective July 24, 2026, the United States imposed new tariffs of 10% or 12.5% on imports from 60 trading partners, including the Chinese Mainland and Hong Kong, which face a 12.5% tariff. These measures replaced the previous temporary 10% universal tariffs that expired on the same date. While the higher tariffs are expected to affect Hong Kong’s exports to the US, exemptions remain for certain electronic products, which make up the majority of Hong Kong’s exports to the country. As a result, the impact on Hong Kong’s export performance is likely to be limited.
Looking ahead, the HKTDC said global business prospects will also depend on developments in the Middle East. Recent renewed conflicts have pushed oil prices higher, while concerns about rising inflationary pressures have prompted central banks to tighten monetary policy. The global economy and end-market demand could slow if tensions persist and more central banks adopt tighter policies to combat inflation.
Pang said: “On the whole, Hong Kong’s merchandise exports could see moderating growth momentum in the coming months, amid a likely gradual steadying of the technology upcycle, an easing global economy, as well as the high-base effect from last year. We continue to uphold our forecast that Hong Kong’s full year exports in 2026 will register growth of over 20%.”
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