Hong Kong Q3 GDP expands 5.2% year on year on exports, domestic demand; outlook positive

[HONG KONG] Hong Kong’s economy expanded by 5.2 per cent in the third quarter from a year earlier, official advance estimates showed on Tuesday (Nov 3), the 15th consecutive quarter of growth underpinned by accelerating exports and solid domestic demand.

It compared with a mean forecast of 3.6 per cent year-on-year growth by 10 economists in a Reuters poll, 4.2 per cent growth in the second quarter of 2026 and a 5.9 per cent growth in the first quarter.

In a seasonally adjusted quarter-to-quarter comparison, gross domestic product increased by 1.9 per cent in real terms in the third quarter from the second quarter of 2026.

“Looking ahead, Hong Kong’s economic outlook remains positive, with incoming data pointing to sustained growth momentum,” a government spokesman said, adding robust global artificial intelligence investment should continue to underpin merchandise exports.

He said exports of services should benefit from sustained growth in inbound tourism, vibrant cross-boundary traffic and active financial market activities, while geopolitical tensions in the Middle East and tighter monetary policies by major central banks warrant close monitoring.

Private consumption expenditure increased by 2.8 per cent in the third quarter, compared with a 2.9 per cent rise in the second quarter and a 4.9 per cent increase in the first quarter.

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Total exports of goods jumped 30.4 per cent in the third quarter, compared with a revised 28.9 per cent growth in the second quarter and 23.8 per cent growth in the first quarter.

Imports of goods grew 29.9 per cent in the third quarter, compared with a 29.3 per cent increase in the second quarter and a 29.9 per cent rise in the first quarter.

For the first three quarters of 2026 combined, real GDP grew by 5.1 per cent over a year earlier, the fastest growth for the corresponding period in five years. REUTERS