Hong Kong logs 7.9pc first quarter growth

Business | 14 May 2021 6:40 pm

Hong Kong's real GDP saw year-on-year growth of 7.9 percent, ending six consecutive quarters of contraction, the government announced.

The ceconomy recovered in the first quarter of 2021, led by a very strong growth of exports of goods alongside a sharp rebound in global demand.

Total exports of goods surged by 30.2 percent year-on-year in real terms in the first quarter, thanks to the global economic recovery led by the mainland and the US.

Exports of services saw a visibly narrowed year-on-year decline of 8.1 percent in real terms.

The real GDP growth forecast of 3.5 percent to 5.5 percent for 2021 as announced in the budget is maintained in the current round of review.

 



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