Hong Kong's economy posted the fastest growth for the first three quarters in five years, with real gross domestic product rising 5.1 percent year-on-year, backed by accelerating export expansion and solid domestic demand, official data showed on Tuesday.
For the third quarter alone, the city's estimated GDP increased by 5.2 percent in real terms - higher than market expectations of 3.7 percent - after logging 4.2 percent growth in the second quarter, according to the Census and Statistics Department.
On a seasonally adjusted basis, the third-quarter real GDP increased by 1.9 percent quarter-on-quarter.
Private consumption expenditure advanced 2.8 percent in real terms, slightly slower than the increase of 2.9 percent three months prior.
Driven by strong global demand for artificial intelligence-related electronics, the city's exports of goods surged 30.4 percent year-on-year in the July-September period, up from 28.9 percent in the second quarter, while exported services grew 4.3 percent.
Government consumption expenditure posted an increase of 1.7 percent year-on-year, while gross domestic fixed capital formation grew by 7.3 percent.
| Elements | Q3 growth | Q2 growth | Change |
| GDP | +5.2 percent | +4.2 percent | ⬆ |
| Private consumption expenditure | +2.8 percent | +2.9 percent | ⬇ |
| Exports of goods | +30.4 percent | +28.9 percent | ⬆ |
| Exports of services | +4.3 percent | +3.2 percent | ⬆ |
| Government consumption expenditure | +1.7 percent | +1.7 percent | - |
Looking ahead, robust global AI investment should continue to underpin Hong Kong's merchandise exports, and exports of services should also benefit from sustained growth in inbound tourism, vibrant cross-boundary traffic and active financial market activities, which will drive the sustained growth momentum in the city's economy, a government spokesman said.
Domestically, steady economic expansion, rising employment earnings and a positive business outlook should also lend support to consumption and investment, the spokesman noted.
Nonetheless, the government will closely monitor persistent uncertainties in the external environment, particularly the developments surrounding geopolitical tensions in the Middle East, as well as the tighter monetary policies by many major central banks, the spokesman added.
Financial Secretary Paul Chan Mo-po noted that Hong Kong's economic growth momentum continued in the third quarter, with all three pillars of growth posting expansion, among which the double-digit growth in investment reflects investors' more optimistic outlook on the city's economy
He also estimated that Hong Kong's property market will see home prices grow by 7 percent to 10 percent this year, adding that office rentals and occupancy rates in core business districts have improved.
Hong Kong's retail sales extended gains for the 17th consecutive month in September, up 6.4 percent to HK$33.4 billion, underscoring the upbeat local consumption sentiment.
The growth beat the market estimates of 4.7 percent and accelerated from the 5.6 percent increase in August.
For the first nine months, the value of total retail sales increased by 8.3 percent compared with the same period in 2025.
