Strong global demand for AI-related electronic products helped drive Hong Kong’s fastest June export growth since 1984, while businesses also accelerated shipments ahead of the expiry of the US’s temporary 10% universal tariff on July 24.
The outbound shipments increased to HK$641.1 billion in June 2026, up 53.4% from a year earlier, while imports rose 45.4%, over a year earlier to $693.0 billion in June 2026, according to data released by the Census and Statistics Department. The import rise marks the fastest annual growth since February 1992 and the strongest increase in about 34 years.
For the first six months of the year, exports climbed 39.1% to HK$3.416 trillion.
The department said the export growth was driven by rising global demand for AI-related electronic products, with shipments to most major markets posting substantial gains. It said continued demand for AI-related electronic products is expected to support exports, although geopolitical tensions in the Middle East remain a potential risk.
Exports of electrical machinery and parts rose 57.2%, while office machines and automatic data processing machines increased 93.2%. Exports of telecommunications, sound recording and other equipment were up 69.9%.
The exports to the United States surged 114.3%, the strongest increase since records began in 1973. The Hong Kong Trade Development Council (HKTDC) said the new US tariff regime that took effect on July 24 is expected to affect Hong Kong’s exports to the United States. The United States replaced its temporary 10% universal tariffs with new duties of 10% or 12.5% on imports from 60 trading partners, with goods from mainland China and Hong Kong subject to a 12.5% tariff.
However, HKTDC noted that exemptions remain for certain electronic products, which account for the majority of Hong Kong’s exports to the US, and therefore expects the overall impact on the city’s exports to be limited.
The trade body added that planned talks between Chinese and US leaders in September, together with continued bilateral dialogue, could help foster a more accommodative China-US trade environment.
Asia remained Hong Kong’s largest export market in June, with shipments to the region increasing 54.4% from a year earlier. Exports to Singapore rose 83.0%, followed by Taiwan (79.9%), mainland China (59.2%), Vietnam (55.9%) and Thailand (52.3%). Outside Asia, exports to Mexico increased 94.2%.
Bruce Pang, Director of Research at the Hong Kong Trade Development Council, said export growth in the first half of 2026 reflected strong global demand for electronics as artificial intelligence adoption accelerated.
He said, “In June 2026, the year-on-year growth rates of total exports to Asia, as well as to the Chinese Mainland and the USA, all accelerated compared with May 2026.”
Pang said HKTDC expects export growth to moderate in the coming months as the technology upcycle matures, global economic growth eases and year-earlier comparisons become more demanding. HKTDC continues to forecast that Hong Kong’s full-year exports will grow by more than 20% in 2026.
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