Against a backdrop of escalating global trade friction, Hong Kong International Airport (HKIA) has demonstrated remarkable resilience in its cargo operations. Despite facing headwinds from U.S. tariff increases, the airport reported a 2.6% year-on-year growth in cargo volume for April, handling 404,000 metric tons of freight.
This performance is particularly notable given the implementation of additional U.S. tariffs on Chinese goods in early April. By April 10, cumulative tariff increases between the two nations had significantly altered the trade landscape, making HKIA's growth even more impressive.
A closer examination reveals that transshipment cargo was the primary driver of this expansion, surging 13.9% compared to April 2023. Europe and the Middle East emerged as key growth markets, reinforcing Hong Kong's strategic position as a bridge between East and West. The airport's connectivity received further boosts from new routes launched by Cathay Pacific, HK Express, and Vietnam Airlines to destinations including Dallas, Komatsu, Ishigaki, and Nha Trang.
Operational metrics showed modest gains, with cargo flights increasing 0.9% to 6,345 movements, while passenger flights jumped 15.8%. However, April's growth rate marked a slight deceleration from the 4.8% increase recorded in March. The first quarter of 2024 saw cumulative cargo growth of 3.2%, with the January-April total reaching 1.6 million metric tons, up 3% year-on-year.
Looking ahead, HKIA faces new challenges as the U.S. eliminates the de minimis exemption for shipments from mainland China and Hong Kong—a policy that previously fueled e-commerce cargo growth. However, the recent 90-day tariff pause agreement between Washington and Beijing offers potential relief for future trade flows.
The April results underscore HKIA's enduring role in global supply chains. Through strategic positioning, operational efficiency, and network expansion, the airport continues to navigate complex trade dynamics while maintaining growth momentum.