HSBC Global Trade Pulse Survey 2026

Trade pressures persist, but confidence holds. The impact of trade uncertainty is substantial. Tariffs and trade uncertainty have increased costs for 68% of businesses, while 86% expect to grow international trade over the next two years. Explore how tariffs and trade uncertainty is affecting different businesses.

International networks are becoming more flexible. Businesses are diversifying their networks to stay ahead. 88% have already broadened or are considering broadening their suppliers, while 86% have taken steps to or are considering securing their energy supplies. Explore the changes different businesses are making to their supply chains.

New sales and digital models are opening routes to growth. Businesses are changing what they sell, how they reach customers and how they generate revenue. 81% have shifted towards services or digital business models in response to trade uncertainty. Explore how different businesses are adapting their sales and revenue models.

AI adoption is accelerating faster than AI oversight. 85% have already deployed AI in at least one trade-related function, yet 76% have implemented fewer than five of the ten AI safeguards assessed in the survey. Explore how different businesses are deploying and governing AI use.

Working capital needs are rising as growth strategies evolve. While businesses are improving how they manage supply chains and cash flow, 59% report rising working capital requirements. With businesses also increasing reliance on new regions, the need for flexible financing to support these shifts is growing. Explore how different businesses are viewing the importance of working capital.