In the first quarter of 2026, Hong Kong's GDP increased by 5.9% year-on-year in real terms.

On May 5, the Hong Kong government's Census and Statistics Department released the preliminary estimate of the local Gross Domestic Product (GDP) for the first quarter of 2026. According to the preliminary estimate, the local GDP for the first quarter of 2026 increased by 5.9% compared to the same period last year, while the increase in the fourth quarter of 2025 was 4.0%. Analyzing the major components of GDP, private consumption expenditure increased by 5.0% in the first quarter of 2026 compared to the same period last year, faster than the 2.5% increase in the fourth quarter of 2025. Government consumption expenditure, calculated according to the national economic accounting definition, recorded a real increase of 2.9% in the first quarter of 2026 compared to the same period last year, compared to a 1.5% increase in the fourth quarter of 2025. The total value of local fixed capital formation continued to rise, increasing by 17.7% in the first quarter of 2026 compared to the same period last year, following a 11.7% increase in the fourth quarter of 2025. In terms of goods exports, there was a real increase of 23.8% in the first quarter of 2026 compared to the same period last year, faster than the 15.4% increase in the fourth quarter of 2025. Goods imports also increased in real terms by 29.9%, compared to an 18.2% increase in the fourth quarter of 2025. Service exports increased by 3.5% in the first quarter of 2026 compared to the same period last year, following a 4.7% increase in the fourth quarter of 2025. Service imports increased by 3.9% in the first quarter of 2026, compared to a 3.7% increase in the fourth quarter of 2025. When seasonally adjusted and compared to the previous quarter, the local GDP in the first quarter of 2026 increased by 2.9% compared to the fourth quarter of 2025. Commenting on the data, a government spokesperson stated that the Hong Kong economy showed strong expansion in the first quarter of 2026. According to the preliminary estimates, real local GDP grew by 5.9% year-on-year in the first quarter, accelerating from the revised growth of 4.0% in the previous quarter (revised up from the initial estimate of 3.8%), marking the strongest quarterly growth in almost five years. After seasonal adjustment, real local GDP grew significantly by 2.9% on a quarterly basis. Looking ahead, the outlook for the Hong Kong economy remains positive, benefiting from strong global demand for AI-related electronic products, continued growth in tourist arrivals, and active cross-border financial activities. The relatively robust business and consumer sentiment is expected to continue supporting local demand. However, the ongoing tension in the Middle East poses downside risks to the economic outlook. In response, the government has taken targeted measures to ensure stable energy supply and mitigate impacts on related industries. The government will remain vigilant and continue to closely monitor developments.