Hong Kong Airport’s Cargo Volume Falls for First Time in 2 Years – What’s Behind the Decline?

Hong Kong Cargo Drops, Led by U.S.-Bound E-Commerce Decline

Hong Kong Airport handled 409,000 tons of cargo in June, marking a 2% year-over-year decline.

Notably, outbound cargo shipments dropped 3%, mainly due to falling volumes of U.S.-bound cross-border e-commerce.

What Is the De Minimis Rule?

The “de minimis rule” exempts low-value imports from duties and customs procedures.

In the U.S., items valued under $800 were previously exempt, helping fuel the rise of Chinese platforms like Amazon, SHEIN, and Temu.

However, the Trump administration repealed the rule for China in May 2025, and extended the repeal globally by the end of July.

As a result, even small shipments are now subject to duties, slowing the flow of e-commerce cargo via Hong Kong.

Spot Rates Show Signs of Rebound

Average airfreight rates from Hong Kong to the U.S. fell below $5/kg in June but showed upward movement in the final week.

Although volumes dropped sharply after the policy change, a rebound may be possible as the market adjusts.

Global Trends: Asia Strong, North America Weak

The International Air Transport Association (IATA) noted that while Asia-Pacific remains the key driver of air cargo growth, North America is seeing major declines due to changing trade policies.

Conclusion

This decline is not just a 2% dip—it reflects a structural change driven by customs reform.

• Cross-border e-commerce hit by policy shifts
• Hong Kong and southern China airports directly impacted
• Both logistics firms and e-commerce platforms must adjust