Hong Kong’s economy is expected to grow faster than market forecasts in the third quarter, accelerating from the previous quarter, Financial Secretary Paul Chan said on Sunday. He attributed the expected growth to faster export expansion and steady domestic demand. The government was due to release its advance estimate of third-quarter GDP on Tuesday, November 3.
Chan said the year-on-year increase in real GDP across the first three quarters combined would be the strongest for that period in five years. He also expected the economy to record its 15th consecutive quarter of positive growth.
September’s merchandise-export value rose 64.9 per cent year on year. It was the 20th consecutive month of double-digit growth, and the largest monthly increase in more than 40 years. Exports of office machines and automatic data-processing machines rose 183.7 per cent.
Chan linked the export performance partly to technological innovation. He said the global boom in artificial intelligence investment was driving demand for high-end electronic components and AI-related goods, and that Hong Kong benefited from the strength and integration of regional supply chains.
Chan said private investment expenditure had grown at a double-digit rate for three consecutive quarters, including the third, reflecting corporate confidence in the outlook. He pointed to growing inbound tourism, busy cross-boundary transport and active financial markets as support for service exports.
The government raised its 2026 growth forecast in August from 2.5–3.5 per cent to 3.5–4.5 per cent. Chan said it could be raised again if the economy maintained its momentum. He also identified continuing geopolitical and economic uncertainty, along with the direction of major central banks’ monetary policies, as risks to the outlook.