Financial News: Hong Kong Q1 GDP Growth Confirmed At 3.1%

Hong Kong Q1 GDP Growth Confirmed At 3.1%

05/16/2025 - 07:08:00 (RTTNews)

(RTTNews) - Hong Kong's economy expanded at an accelerated pace as initially estimated in the first quarter of 2025, the latest data from the Census and Statistics Department showed Friday.

Gross domestic product advanced 3.1 percent year-over-year in the first quarter, faster than the 2.5 percent growth in the fourth quarter. That was in line with the flash data published earlier.

The solid and accelerated growth in the first quarter was driven by visible increases in exports of goods and services, as well as the resumption of moderate growth in overall investment expenditure.

Total exports of goods grew 8.4 percent annually in real terms, thanks to the further increase in visitor arrivals, growth in cross-boundary traffic, and notable increase in cross-boundary financial and fundraising activities. Exports of services also logged a strong growth of 6.6 percent.

Further, expenditure breakdown showed that overall investment expenditure grew 2.8 percent. On the other hand, private consumption declined 1.1 percent, reflecting the lingering impact of changes in residents' consumption patterns.

On a seasonally adjusted quarter-to-quarter basis, real GDP increased by 1.9 percent versus a 0.9 percent rebound in the December quarter. In the flash estimate, the rate of expansion was 2.0 percent.

"The real GDP growth forecast for 2025 as a whole is maintained at 2 to 3 percent, the same as that announced in the Budget," the agency said.

On the inflation outlook, underlying and headline consumer price inflation rates for 2025 are maintained at 1.5 percent and 1.8 percebt, respectively.

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