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Hong Kong’s Economy Maintains Growth Momentum With 3.1% Q2 Expansion

Government sees Q2 growth meeting estimates with policy measures in place to sustain momentum despite external headwinds

Image
People cross a street in a shopping area of the Central business district in Hong Kong, China August 22, 2019. Picture taken August 22, 2019. REUTERS/Thomas Peter/ File Photo
Tourists relax on the waterfront in front of Victoria Harbour, with the iconic skyline buildings as a backdrop, in Hong Kong, China June 28, 2023. REUTERS/Tyrone Siu/File Photo

Overview

  • Hong Kong’s GDP rose 3.1% year on year in the second quarter of 2025, matching the advanced estimate and marking the tenth consecutive quarter of expansion.
  • On a seasonally adjusted basis, the economy expanded 0.4% from Q1, up from a revised 1.8% gain in the previous quarter.
  • Export strength was driven by rush shipments ahead of U.S. tariff changes, a rebound in inbound tourism and a buoyant local stock market.
  • Private consumption returned to growth after four quarters of decline and overall investment increased, led by machinery, equipment and intellectual property spending.
  • Officials maintained a 2–3% full-year growth forecast for 2025 but warned that elevated tariffs, interest-rate uncertainty and geopolitical tensions could curb momentum.