Hong Kong’s economy expanded by 3.8% year-on-year in the fourth quarter of 2025, slightly above the revised 3.7% growth recorded in the previous quarter and in line with preliminary estimates. Private consumption grew by 2.7%, up from 2.4%, while overall investment surged 10.5%, compared with 3.4% in Q3, indicating stronger consumer confidence and a more optimistic business outlook. In contrast, government spending moderated to 1.4%, down from 2% in the third quarter.
On the external front, exports of goods rose 15.5%, accelerating from 12%, whereas exports of services eased to 4.8% from 6.6%. Meanwhile, imports of goods increased 18.4%, up from 11.7%, and imports of services advanced 3.7%, compared with 2.3% previously. On a seasonally adjusted quarter-on-quarter basis, GDP grew 1%, following an upwardly revised 0.9% increase. For 2025 as a whole, Hong Kong’s economy expanded by 3.5%, an improvement from the 2.6% growth recorded in 2024.
