Hong Kong GDP grows 5.2% in third quarter, fastest in five years
Hong Kong's GDP grew 5.2% year-on-year in Q3 2026, accelerating from 4.2% in Q2. The government cited strong exports and domestic demand, with AI investment supporting trade. The first three quarters averaged 5.1% growth, the fastest in five years.
The Hong Kong government has released advance estimates showing the city's gross domestic product (GDP) grew by 5.2 per cent in real terms in the third quarter of 2026 compared with the same period last year. This marks an acceleration from the revised 4.2 per cent growth recorded in the second quarter. On a seasonally adjusted quarter-on-quarter basis, real GDP rose by 1.9 per cent in the third quarter.
Analysing the main components of GDP, private consumption expenditure increased by 2.8 per cent year-on-year in the third quarter, slightly down from 2.9 per cent in the second quarter. Government consumption expenditure, defined according to national accounts, rose by 1.7 per cent after remaining largely unchanged in the previous quarter. Gross fixed capital formation grew by 7.3 per cent year-on-year, accelerating from 3.7 per cent in the second quarter.
On the external front, total exports of goods, measured by national accounts definitions, rose by 30.4 per cent year-on-year in the third quarter, following a 28.9 per cent increase in the second quarter. Imports of goods grew by 29.9 per cent in the third quarter, up from 29.3 per cent in the previous quarter. Exports of services increased by 4.3 per cent year-on-year in the third quarter, compared with 3.2 per cent in the second quarter, while imports of services rose by 5.6 per cent, up from 3.1 per cent.
A government spokesman said the economy expanded strongly in the third quarter, supported by faster export growth and solid domestic demand. For the first three quarters of 2026 combined, real GDP grew by 5.1 per cent year-on-year, the fastest pace for the January-September period in five years. The spokesman noted that strong global investment in artificial intelligence should continue to support Hong Kong's merchandise exports, while services exports should benefit from continued growth in visitor arrivals, robust cross-border transport and active financial market activity.
On the domestic front, the spokesman said steady economic growth, rising employment income and a positive business outlook should support consumption and investment. However, he cautioned that persistent external uncertainties, particularly related to geopolitical tensions in the Middle East and monetary policy tightening by several major central banks, require close monitoring.
Revised GDP figures for the third quarter of 2026, along with more detailed statistics and revised forecasts for the full year, are scheduled for release on 13 November 2026.