Exports jump 40.8% in May on AI demand

Imports rose 42% during the month, resulting in a $44.2b merchandise trade deficit.

Merchandise exports increased by 40.8% YoY to $611.2b in May 2026, supported by strong global demand for artificial intelligence-related electronic products.

Imports climbed 42% to $655.4b over the same period, leaving the city with a visible trade deficit of $44.2b, equivalent to 6.7% of imports.

Exports to Asia rose 44.6%, led by a 114.2% surge in shipments to Singapore. Exports to Taiwan increased by 90.2%, followed by Vietnam at 67.8%, Thailand at 56%, and mainland China at 48.5%.

Outside Asia, exports to the UK and the US grew by 61.7% and 55.7%, respectively.

Electronics-related products drove much of the expansion. Exports of electrical machinery, appliances and parts rose 56.1%, whilst shipments of office and automatic data-processing machines increased 50.2%. Telecommunications and sound equipment exports grew 37.6%.

For the first five months of 2026, total exports increased by 36.2% YoY, whilst imports rose 39.6%. The cumulative trade deficit reached $242.2b, or 8% of imports.

On a seasonally adjusted basis, exports grew 17.1% in the three months ending May compared with the preceding three-month period, whilst imports increased by 16.3%.

The government expects continued global demand for AI-related electronic products to support Hong Kong’s trade performance, although it warned that external economic and geopolitical risks remain.