Hong Kong’s economy expanded solidly in the first quarter of 2025, with real gross domestic product (GDP) growing by 3.1% year-on-year, picking up from the 2.5% growth in the preceding quarter.

On a seasonally adjusted quarter-to-quarter basis, real GDP grew by 1.9%.

This was mainly supported by increases in exports of goods and services, as well as the resumption of moderate growth in overall investment expenditure, Acting Government Economist Cecilia Lam said at a press conference.

Private consumption expenditure, however, continued to register a modest decline.

Taking into account the actual outturn in the first quarter and the latest developments of the global and local situation, the real GDP growth forecast for 2025 as a whole is maintained at 2% to 3%, the same as that announced in the Budget.