Hong Kong records GDP rise of over 5% in first three quarters, marking strongest growth in 5 years

Hong Kong has seen a strong GDP increase of over 5 per cent in the third quarter of 2026, bringing the growth for the first nine months of the year to a five-year high.

People on the waterfront promenade at Tsim Sha Tsui. File photo: Kyle Lam/HKFP.

Driven by accelerating growth in exports and solid domestic demand, the city’s GDP grew by 5.2 per cent in the third quarter compared to the same period last year, the government announced on Tuesday.

For the first three quarters of 2026 combined, real GDP grew by 5.1% over a year relative to the same nine-month period in 2025, marking the strongest growth in five years, the government said.

“Looking ahead, Hong Kong’s economic outlook remains positive, with incoming data pointing to sustained growth momentum,” a government spokesperson said.

“Robust global artificial intelligence investment should continue to underpin Hong Kong’s merchandise exports. Exports of services should also benefit from sustained growth in inbound tourism, vibrant cross-boundary traffic and active financial market activities,” the spokesperson said.

Financial Secretary Paul Chan wrote in a blog post published on Sunday that the government might raise its GDP forecast again as the economy has grown faster than expected.

Earlier in August, the government raised its 2026 full-year GDP growth forecast from 2.5-3.5 per cent to 3.5-4.5 per cent.

Financial Secretary Paul Chan. File photo: Kyle Lam/HKFP.

Goldman Sachs said in its report released on Wednesday that it expects Hong Kong’s full-year GDP growth to reach 5 per cent, higher than the original forecast of 4.2 per cent.

The investment bank said the strong GDP growth in the third quarter was mainly driven by net exports and a rebound in government consumption.

The government said on Tuesday that Hong Kong recorded a 2.8 per cent growth in private consumption expenditure in the third quarter compared to the same period last year, maintaining a steady pace following the 2.9 per cent growth in the second quarter.

Meanwhile, government consumption expenditure recorded an increase of 1.7 per cent in the third quarter, after remaining “virtually unchanged” in the second quarter, according to the statement.