Hong Kong Exports Surge 42.9% in April Amid Strong AI-Led Demand, HKTDC Reports

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 reached HK$2,166.4 billion, a robust 35% increase compared with the same period last year. The Hong Kong Trade Development Council (HKTDC) attributed the strong performance to resilient external demand, particularly from the global AI-led application upcycle and strong demand for information and communications technology (ICT) equipment.

Bruce Pang, Director of Research at HKTDC, said: “The strong export performance, in line with HKTDC’s earlier assessment, underscores the resilience of external demand, despite ongoing geopolitical uncertainties.” Pang noted that the 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. 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 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 details on the electronics sector, HKTDC Research provides an in-depth analysis in its report AI Surge Bolsters Electronics Industry from Geopolitical Headwinds.

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. Additionally, 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 HKTDC continues to monitor these factors as Hong Kong navigates a complex global trade landscape.