FX.co ★ Hong Kong Q1 GDP Confirmed at Near 5-Year High

Hong Kong’s economy expanded by 5.9% year-on-year in Q1 2026, in line with preliminary estimates and accelerating from an upwardly revised 4.0% in Q4 2025. This was the fastest pace of growth since Q2 2021, underpinned by robust domestic demand and sustained strength in external trade. Household consumption growth picked up to 4.9%, from 2.5% in Q4 2025, while government spending doubled to 3.0% from 1.5%. Gross fixed capital formation also jumped to 17.7%, compared with 11.7% in the previous quarter. On the external front, goods exports surged 23.7%, up from 15.4% in Q4 2025, supported by strong global demand for artificial-intelligence-related electronic products and buoyant intraregional trade in Asia. Goods imports also rose sharply, with growth accelerating to 29.8% from 18.2%. On a seasonally adjusted quarter-on-quarter basis, GDP increased by 2.9%—a five-year high—compared with an upwardly revised 1.1% in the preceding quarter.