Hong Kong Q3 GDP expands by 3.8% y/y, faster than forecast

[HONG KONG] Hong Kong’s economy expanded in the third quarter by a faster-than-expected 3.8 per cent year on year, official advance estimates showed on Friday (Oct 31), growing for an 11th consecutive quarter.

That was a faster rate than the mean forecast of 3.1 per cent year-on-year growth by 10 economists in a Reuters poll.

Hong Kong reported 3.1 per cent economic growth in the second quarter and 3 per cent growth in the first quarter of 2025.

“Looking ahead, the Hong Kong economy should see further solid growth for the rest of 2025,” a government spokesman said.

“Sustained moderate growth of the global economy in the near term, together with the persistent stellar demand for electronics-related products of late, should provide further support to Hong Kong’s exports of goods.”

On a seasonally adjusted quarterly basis, the economy expanded 0.7 per cent in July-to-September period, the data showed. That compared with a (revised) 0.4 per cent in April-to-June quarter and 1.8 per cent in January-to-March quarter.

Overall investment expenditure rose, and total exports of goods grew markedly, the government said.

Private consumption expenditure increased by 2.1 per cent in the third quarter, compared with a 1.9 per cent growth in the second quarter and a fall of 1.2 per cent in the first quarter.

Goods exports rose 12.2 per cent, compared with an 11.5 per cent jump in the second quarter and a 8.4 per cent surge in the first quarter.

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Imports of goods increased 11.7 per cent, as compared with a 12.6 per cent increase in the second quarter and a 7.2 per cent surge in the first quarter. REUTERS