Hong Kong's GDP rose 5.9% year over year in real terms in the first quarter, steeper than a 4% rise in the previous quarter, according to revised figures released Friday by the office of the government economist.
On a seasonally adjusted quarter-on-quarter basis, GDP increased 2.9%, the statement said.
Goods exports and imports climbed 23.7% and 29.8%, respectively, in real terms. Exports and imports of services rose by 3.5% and 4.2%, respectively.
Private consumption expenditure increased 4.9% in real terms in the three months, faster than the 2.5% increase in the preceding quarter. Meanwhile, government consumption expenditure rose 3%, a steeper rise than a 1.5% jump seen in the previous quarter.
"Looking ahead, Hong Kong's economic outlook remains broadly resilient. Strong global demand for advanced electronics and AI‑related products is expected to support export performance, while services exports should remain firm, underpinned by sustained vibrancy in inbound tourism, robust cross-boundary financial activity, and steady demand for business services," the report said.
Comments