Advance estimates on Gross Domestic Product for second quarter of 2026
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According to the advance estimates, GDP increased by 4.3% in real terms in the second quarter of 2026 over a year earlier, compared with the increase of 5.9% in the first quarter.
Analysed by major GDP component, private consumption expenditure increased by 2.9% in real terms in the second quarter of 2026 over a year earlier, compared with the increase of 4.9% in the first quarter.
Government consumption expenditure measured in national accounts terms recorded an increase of 0.5% in real terms in the second quarter of 2026 over a year earlier, compared with the increase of 2.8% in the first quarter.
Gross domestic fixed capital formation continued to rise by 4.6% in real terms in the second quarter of 2026 over a year earlier, after the increase of 18.3% in the first quarter.
Total exports of goods measured in national accounts terms recorded an increase of 28.8% in real terms in the second quarter of 2026 over a year earlier, accelerated further from the growth of 23.8% in the first quarter. Over the same period, imports of goods measured in national accounts terms grew by 29.3% in real terms, compared with the increase of 29.9% in the first quarter.
Exports of services rose by 3.4% in real terms in the second quarter of 2026 over a year earlier, after the increase of 3.3% in the first quarter. Imports of services increased by 2.8% in real terms in the second quarter of 2026, compared with the increase of 3.8% in the first quarter.
On a seasonally adjusted quarter-to-quarter comparison basis, GDP decreased by 0.6% in real terms in the second quarter of 2026 when compared with the first quarter.
Commentary
A Government spokesman said that the Hong Kong economy continued to expand robustly in the second quarter of 2026, underpinned by buoyant external trade and resilient domestic demand. According to the advance estimates, real GDP grew further by 4.3% in the second quarter over a year earlier, following 5.9% growth in the preceding quarter.
Looking ahead, the Hong Kong economy should continue to pose solid growth in the second half of 2026. Vibrant global demand for artificial intelligence-related products should bolster merchandise exports, while exports of services should benefit from sustained growth in visitor arrivals and steady demand for financial and business services. Domestic demand is expected to stay firm, supported by stable labour market conditions, and solid business and consumer sentiments. Nonetheless, the lingering external headwinds, particularly geopolitical tensions in the Middle East, uncertainties surrounding the monetary policy of the United States and trade protectionist measures among major advanced economies, still warrant close surveillance.
The revised figures on GDP and more detailed statistics for the second quarter of 2026, as well as the revised GDP forecast for 2026, will be released on August 14, 2026.
Further information
The year-on-year percentage changes of GDP and selected major expenditure components in real terms from the second quarter of 2025 to the second 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 second 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 August 14, 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/Friday, July 31, 2026
Issued at HKT 16:30
Issued at HKT 16:30
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