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3d ago

Hong Kong's Q1 GDP Surpasses Forecasts with 3.1% Growth

Export surge drives economic rebound, but officials highlight risks from escalating US-China trade tensions.

Containers are seen inside a container terminal at Kwai Chung district in Hong Kong, China May 30, 2016. Picture taken May 30, 2016. REUTERS/Bobby Yip
Hong Kong, a special administrative region in China with its own trade policies, has not followed Beijing's lead in imposing retaliatory tariffs

Overview

  • Hong Kong's GDP grew 3.1% year-on-year in Q1 2025, exceeding the 2.1% forecast by economists.
  • Exports of goods rose by 8.7%, bolstered by strong external demand and support from mainland China.
  • Private consumption declined 1.2% year-on-year, reflecting shifts in local spending patterns.
  • Officials warn that heightened trade policy uncertainty, fueled by US and Chinese tariffs, poses significant risks to economic stability.
  • The government maintains a 2–3% annual growth target and has introduced pro-growth measures to sustain momentum.