HONG KONG, May 5 (Xinhua) -- Hong Kong's economy posted solid growth in Q1 2026, with real GDP rising 5.9 percent year-on-year, according to advance official estimates released on Tuesday.

This is up from the previous quarter's revised 4.0 percent growth (originally estimated at 3.8 percent) and marks the strongest quarterly expansion in nearly five years.

Private consumption expenditure increased by 5.0 percent in real terms in the first quarter of 2026 over a year earlier, faster than the increase of 2.5 percent in the fourth quarter of 2025, showed the statistics released by the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government.

Gross domestic fixed capital formation increased further by 17.7 percent in real terms in the first quarter of 2026 year-on-year.

Total exports of goods measured in national accounts terms recorded an increase of 23.8 percent in real terms in the first quarter year-on-year. Meanwhile, imports of goods measured in national accounts terms grew by 29.9 percent in real terms.

On a seasonally adjusted quarter-to-quarter comparison basis, GDP increased by 2.9 percent in real terms in the first quarter of 2026 when compared with the fourth quarter of 2025.

An HKSAR government spokesperson said that the Hong Kong economy expanded robustly in the first quarter of 2026. Looking ahead, Hong Kong's economic growth outlook remains positive, underpinned by strong global demand for AI-related electronics, sustained growth in visitor arrivals and robust cross-boundary financial activities.

In response to the downside risks to the economic outlook amid the persistent tensions in the Middle East, targeted measures have been taken to safeguard energy supply stability and mitigate the impacts on affected sectors, the spokesperson said. ■