Hong Kong’s May Exports Surge 40.8% Driven by Global AI Demand

Hong Kong’s export sector posted a remarkable 40.8% year-on-year increase in May, reaching HK$611.2 billion, according to data released today by the Census and Statistics Department. This surge, the latest in a series of strong monthly performances, underscores the city’s role as a key beneficiary of the global artificial intelligence (AI) boom. For the first five months of 2026, total exports of goods climbed 36.2% to HK$2,776.6 billion, reflecting sustained momentum.

The growth was largely driven by robust electronics demand, which has been a cornerstone of Hong Kong’s export performance. Bruce Pang, Director of Research at the Hong Kong Trade Development Council (HKTDC), attributed the strength to ‘the ongoing surge in artificial intelligence (AI) adoption worldwide.’ As AI technologies proliferate across industries, demand for semiconductors, data center equipment, and related components has soared, boosting Hong Kong’s trade figures.

The positive data comes amid a cautiously improving geopolitical landscape. Market sentiment was bolstered by the Xi-Trump meeting in Beijing in mid-May, which eased some trade tensions. Additionally, the US–Iran Memorandum of Understanding signed in mid-June, coupled with softer oil prices, has tempered concerns over the Middle East conflict. However, lingering uncertainties remain, and Pang noted that ‘the tentative easing of tensions after the US–Iran MoU signed in mid-June – despite potential volatility – together with softer oil prices, is expected to positively impact business prospects.’

Looking ahead, Hong Kong’s trade outlook hinges on multiple factors. Pang emphasized that the trajectory will depend on ‘the technology upcycle, geopolitical developments, energy prices and global end-market demand.’ The HKTDC Research division is set to unveil its latest export forecast at a press conference on Monday, 29 June, which will provide further insights into the city’s trade direction.

The implications of these export figures extend beyond Hong Kong. As a major re-export hub, Hong Kong’s performance often signals trends in regional and global trade. The strong growth suggests that the AI-driven demand cycle is robust, potentially boosting economies across Asia that supply components and raw materials. Conversely, any slowdown in AI investment or escalation of geopolitical tensions could pose risks.

The HKTDC, which celebrates its 60th anniversary this year, continues to play a pivotal role in supporting Hong Kong’s trade. With over 50 offices globally, including 13 in the Chinese Mainland, the council promotes Hong Kong as a two-way global investment and business hub. It organizes international exhibitions, conferences, and business missions to create opportunities, particularly for small and medium-sized enterprises. The council also provides market insights via research reports and digital channels, available at its Media Room.

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