​The Census and Statistics Department (C&SD) released today (May 5) the advance estimates on Gross Domestic Product (GDP) for the first quarter of 2026.
      
     According to the advance estimates, GDP increased by 5.9% in real terms in the first quarter of 2026 over a year earlier, compared with the increase of 4.0% in the fourth quarter of 2025.
      
     Analysed by major GDP component, private consumption expenditure increased by 5.0% in real terms in the first quarter of 2026 over a year earlier, faster than the increase of 2.5% in the fourth quarter of 2025.
      
     Government consumption expenditure measured in national accounts terms recorded an increase of 2.9% in real terms in the first quarter of 2026 over a year earlier, compared with the increase of 1.5% in the fourth quarter of 2025.
      
     Gross domestic fixed capital formation increased further by 17.7% in real terms in the first quarter of 2026 over a year earlier, following the increase of 11.7% in the fourth quarter of 2025.
      
     Total exports of goods measured in national accounts terms recorded an increase of 23.8% in real terms in the first quarter of 2026 over a year earlier, accelerated further from the growth of 15.4% in the fourth quarter of 2025. Over the same period, imports of goods measured in national accounts terms grew by 29.9% in real terms, compared with the increase of 18.2% in the fourth quarter of 2025.
      
     Exports of services rose by 3.5% in real terms in the first quarter of 2026 over a year earlier, after the increase of 4.7% in the fourth quarter of 2025. Imports of services increased by 3.9% in real terms in the first quarter of 2026, compared with the increase of 3.7% in the fourth quarter of 2025.
      
     On a seasonally adjusted quarter-to-quarter comparison basis, GDP increased by 2.9% in real terms in the first quarter of 2026 when compared with the fourth quarter of 2025.

Commentary
 
     A Government spokesman said that the Hong Kong economy expanded robustly in the first quarter of 2026. According to the advance estimates, real GDP grew by 5.9% over a year earlier in the first quarter, accelerating from the revised 4.0% growth in the preceding quarter (up from the earlier estimate of 3.8%), and marking the strongest quarterly growth in nearly five years. On a seasonally adjusted quarter-to-quarter basis, real GDP rose notably by 2.9%.
      
     Looking ahead, Hong Kong's economic growth outlook remains positive, underpinned by strong global demand for artificial intelligence-related electronics, sustained growth in visitor arrivals and robust cross-boundary financial activities. Relatively solid business and consumer sentiment is expected to continue supporting domestic demand. However, persistent tensions in the Middle East pose downside risks to the economic outlook. In response, the Government has taken targeted measures to safeguard energy supply stability and mitigate the impacts on affected sectors. The Government will stay vigilant and continue to closely monitor the developments.
      
     The revised figures on GDP and more detailed statistics for the first quarter of 2026, as well as the revised GDP forecast for 2026, will be released on May 15, 2026.
      
Further information
 
     The year-on-year percentage changes of GDP and selected major expenditure components in real terms from the first quarter of 2025 to the first quarter of 2026 are shown in Table 1.
      
     When more data become available, the C&SD will compile revised figures on GDP. The revised figures on GDP and more detailed statistics for the first quarter of 2026 will be released at the C&SD website (www.censtatd.gov.hk/en/scode250.html) and the Gross Domestic Product by Expenditure Component report (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1030001&scode=250) on May 15, 2026.
      
     For enquiries about statistics on GDP by expenditure component, please contact the National Income Branch (1) of the C&SD (Tel: 3863 2727 or email: gdp-e@censtatd.gov.hk).

Ends/Tuesday, May 5, 2026
Issued at HKT 16:30

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