Latest Developments

Gross Domestic Product and its major components (PDF) (Excel)

Latest situation
The Hong Kong economy expanded robustly in the third quarter of 2026, underpinned by accelerating growth in exports and solid domestic demand. According to the advance estimates, real GDP grew further by 5.2% in the third quarter over a year earlier, up from the revised 4.2% growth in the preceding quarter. On a seasonally adjusted quarter-to-quarter basis, real GDP rose visibly by 1.9%. For the first three quarters of 2026 combined, real GDP grew by 5.1% over a year earlier, the fastest growth for the corresponding period in five years. Looking ahead, Hong Kong’s economic outlook remains positive, with incoming data pointing to sustained growth momentum. Robust global artificial intelligence investment should continue to underpin Hong Kong’s merchandise exports. Exports of services should also benefit from sustained growth in inbound tourism, vibrant cross-boundary traffic and active financial market activities. Domestically, steady economic expansion, rising employment earnings and a positive business outlook should lend support to consumption and investment. Nonetheless, persistent uncertainties in the external environment, particularly the developments surrounding geopolitical tensions in the Middle East and tighter monetary policies by many major central banks, warrant close monitoring. The revised figures on GDP and more detailed statistics for the third quarter of 2026, as well as the revised GDP forecast for 2026, will be released on 13 November 2026.


External sector (PDF) (Excel)

Latest situation
Merchandise exports surged further by 64.9% over a year earlier in value terms in September, driven by sustained stellar performance in exports of AI-related electronic products, marking the twentieth consecutive month of double-digit growth and the fastest monthly year-on-year growth in over four decades. Exports to all major markets increased notably.
Looking ahead, Hong Kong’s merchandise trade performance will continue to benefit from the prevailing wave of robust AI-related investment and the resilient global economic growth. Nonetheless, external uncertainties warrant close monitoring, including the Middle East conflict, trade protectionist measures by major economies, and risks associated with the rapid expansion of global investment in AI.


Prices (PDF) (Excel)

Latest situation
The underlying Composite CPI rose by 2.1% in September over a year earlier, up from 1.9% in the preceding month, largely driven by faster price increases in fuel-related items. Yet, price increases of other components were largely modest, thus keeping overall inflation moderate.
Looking ahead, consumer price inflation will remain under upward pressure, as persistently elevated international oil prices feed through to fuel-related components amid ongoing geopolitical tension in the Middle East. Yet, as price pressures on other fronts are expected to remain largely contained, overall inflation should stay moderate.


Labour market (PDF) (Excel)

Latest situation
The seasonally adjusted unemployment rate edged up by 0.1 percentage point over the preceding three-month period to 3.9% in July – September 2026. The underemployment rate also rose slightly by 0.1 percentage point to 2.0%. Over the same period, both the labour force and total employment increased further amid the continued influx of fresh graduates and school leavers into the labour market.
Looking ahead, the sustained expansion of the local economy, improving business sentiment and continued growth in visitor arrivals are expected to underpin the overall employment situation, particularly in the consumption- and tourism-related sectors. Meanwhile, the Government will continue to closely monitor the potential impacts of external uncertainties on corporate hiring sentiments and provide job-seekers with appropriate support.


Retail and other economic indicators (PDF) (Excel)

Latest situation
Total retail sales value grew at a faster year-on-year rate of 6.4% in September, marking the 17th consecutive month of expansion. Growth in sales was broad-based across many types of retail outlet, reflecting solid local consumption sentiment in general. A pick-up in visitor arrivals and sales of festive items associated with the earlier arrival of Mid-Autumn Festival this year also contributed to growth in overall sales in the month. Meanwhile, online retail sales value rose further visibly alongside consumers’ growing use of digital channels.
Looking ahead, sustained solid economic expansion and growth in labour earnings will bolster local consumption. A series of upcoming mega-events and festive celebrations in various districts, together with continued growth in inbound tourism, will inject additional momentum to the retail sector. The Government will continue to monitor the potential impacts of the evolving external headwinds on the local consumption market closely.


Other Economic Indicators


Hong Kong population (PDF) (Excel)


Regional headquarters/offices and external investments (PDF) (Excel)


Asset market, exchange rates and interest rates (PDF) (Excel)