Hong Kong Q1 GDP expands 5.9% y/y

[HONG KONG] Hong Kong’s economy expanded by 5.9 per cent in the first quarter from the same period a year earlier, the government said on Friday (May 15), supported by a surge in exports and private consumption expenditure.

The economy grew 4.0 per cent in the fourth quarter of 2025 and 3.1 per cent in the first quarter of last year. The government maintained its 2026 GDP forecast at a range of 2.5 per cent to 3.5 per cent.

On a seasonally adjusted quarterly basis, the economy grew 2.9 per cent in January-March, the figures showed, compared with 1.0 per cent growth in October-December.

The first-quarter growth figures matched preliminary data released earlier this month.

“Looking ahead, Hong Kong’s economic outlook remains broadly resilient,” a government spokesman said.

“Strong global demand for advanced electronics and AI-related products is expected to support goods export performance, while services exports should remain firm, underpinned by sustained vibrancy in inbound tourism, robust cross-boundary financial activity, and steady demand for business services.”

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The government revised up forecasts for headline and underlying consumer price inflation for 2026 to 2.6 per cent and 2.5 per cent, respectively, from 1.8 per cent and 1.7 per cent. REUTERS