Hong Kong's economic growth slowed more than forecast last quarter despite a significant surge in artificial intelligence-related exports [1].

The divergence between record-breaking trade figures and overall GDP growth highlights the complexity of the city's economic recovery. While the AI boom provides a powerful engine for trade, it has not yet been enough to offset broader economic headwinds.

Trade data shows a massive spike in activity driven by a global rush to invest in AI technology. Exports in June alone soared 53% year on year [2], reaching a record HK$641 billion [2]. This represents the highest level of export activity in 42 years [2].

The momentum extended through the first half of 2026, with total exports increasing by 39.1% [2]. During the same period, imports rose by 40.6% [2].

Billy Mak of Baptist University said the rising export values reflect higher prices for AI components and a relative easing in China-U.S. trade tensions.

Despite these gains, the overall economy did not meet growth projections for the last quarter [1]. The surge is primarily concentrated in the shipment of high-value components necessary for AI infrastructure rather than a broad-based economic expansion.

Economists said the export surge will extend into the coming months [2]. This continued growth in the tech sector is expected to support the general GDP outlook as the city attempts to stabilize its broader economic performance.

“Hong Kong exports soar 53% to record HK$641 billion in June”

The data suggests that Hong Kong is increasingly becoming a critical transit hub for the global AI supply chain. However, the fact that record exports did not prevent an economic slowdown indicates that the 'AI boom' is currently a sectoral victory rather than a systemic one, leaving the wider economy vulnerable to other macroeconomic pressures.