City's economy grows 4.3% in Q2, buoyed by strong exports

According to the advance estimates from the Census and Statistics Department, the city's Gross Domestic Product rises 4.3% year-on-year in real terms in the second quarter.

That's underpinned by robust exports and resilient domestic demand.

On a seasonally adjusted basis, however, the economy contracted 0.6% compared with the first quarter.

Total exports of goods recorded an increase of nearly 29% year-on-year.

Over the same period, imports of goods grew by 29.3% on par with the hike in Q1.

Looking ahead, the government expects strong global demand for AI-related products to continue bolstering Hong Kong's merchandise exports in the second half of the year, while exports of services should sustain growth in visitor arrivals and steady demand for financial and business services.

Domestic demand is expected to stay firm, supported by stable labour market conditions.