Financial News: Hong Kong GDP Growth Accelerates In Q3

Hong Kong GDP Growth Accelerates In Q3

(RTTNews) - Hong Kong's economy expanded at a faster pace in the three months ending in September, driven by a continued surge in exports and sustained expansion in domestic demand, the advance estimates from the Census and Statistics Department showed Friday.

Gross domestic product advanced 3.8 percent year-over-year in the third quarter, following a 3.1 percent growth in the second quarter.

On a seasonally adjusted quarter-to-quarter basis, real GDP grew by 0.7 percent compared to the previous quarter.

The expenditure breakdown showed that private consumption expenditure grew 2.1 percent annually, faster than the 1.9 percent increase in the June quarter. Meanwhile, the growth in government consumption moderated to 1.6 percent from 2.5 percent.

Data showed that gross domestic fixed capital formation advanced 4.3 percent versus 1.9 percent in the June quarter. The annual growth in exports of goods accelerated to 12.2 percent from 11.5 percent, while imports advanced at a slower pace of 11.7 percent versus 12.6 percent.

"Looking ahead, the Hong Kong economy should see further solid growth for the rest of 2025," a government spokesman said.

"Sustained moderate growth of the global economy in the near term, together with the persistent stellar demand for electronic-related products of late, should provide further support to Hong Kong's exports of goods."

Separate official data showed that Hong Kong's retail sales value rose 5.9 percent annually in September, after a 3.9 percent increase in August. Further, this was the quickest growth since December 2023. Sales of consumer durables grew the most, by 20.5 percent.

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