Hong Kong’s merchandise exports surged 42.9% year-on-year to HK$620.9 billion in April 2026, according to data released today by the Census and Statistics Department. For the first four months of 2026, total exports of goods reached HK$2,166.4 billion, representing robust growth of 35% compared with the same period last year. The strong performance underscores the resilience of external demand despite ongoing geopolitical uncertainties, said Bruce Pang, Director of Research at the Hong Kong Trade Development Council (HKTDC).
The recent surge has been driven primarily by the global AI-led application upcycle and strong demand for ICT equipment, reinforced by supply chain reconfiguration in Asia and, to some extent, higher unit prices amid rising costs. As a key re-export hub for electronic components and intermediate goods, Hong Kong is well positioned to benefit from this ongoing AI-driven technology upcycle. Robust demand for chips, AI-enabled products and ICT equipment across global major markets – including the Chinese Mainland, ASEAN production bases and mature markets, such as the US – continues to underpin regional trade flows, supporting Hong Kong’s external trade performance.
For further information about the export prospects of the electronics sector, please refer to AI Surge Bolsters Electronics Industry from Geopolitical Headwinds | HKTDC Research.
At the same time, elevated oil prices amid ongoing geopolitical tensions, together with rising semiconductor costs, have contributed to higher trade values of related products, thereby supporting export growth in value terms. While this largely reflects price effects rather than volume expansion, it is likely to continue underpinning headline trade figures in the near term. The improved trade environment following the China-US leaders’ meeting in May is expected to support business sentiment by reducing uncertainties.
Against this backdrop, Hong Kong’s export performance is likely to maintain solid growth momentum for the rest of the year, underpinned by its role as a critical node in regional and global supply chains. Nonetheless, trade prospects remain subject to geopolitical developments, particularly in the Middle East, as well as the trajectory of energy prices, both of which could affect trade flows and end-market demand.
The strong export performance, in line with HKTDC’s earlier assessment, underscores the resilience of external demand. Hong Kong’s export sales are therefore expected to remain solid in the near term, supported by sustained demand for technology-related products. As a key re-export hub, Hong Kong is well positioned to benefit from the AI-driven upcycle, with demand for chips and ICT equipment continuing to support regional trade flows.
