Hong Kong's GDP in the second quarter of 2024 increased by 3.3% compared to the same period last year in real terms.

On September 20, the Census and Statistics Department of the Hong Kong government released the preliminary figures of the Gross Domestic Product (GDP) for the second quarter of 2024, calculated on a quarter-on-quarter basis by economic activity categories. According to the preliminary statistics, the overall GDP in the second quarter of 2024 increased by 3.3% compared to the same period last year, while the increase in the first quarter of 2024 was 2.8%. When analyzing the value added by different service sectors and comparing it to the same period last year, the combined value added by all service activities increased by 2.1% in the second quarter of 2024, compared to 3.1% in the first quarter. The value added by import and export trade, wholesale and retail industries decreased by 0.1% in the second quarter of 2024 compared to the same period last year, while it increased by 0.9% in the first quarter. The value added by accommodation and food services decreased by 6.3% in the second quarter of 2024 compared to the same period last year, while it increased by 0.9% in the first quarter. The value added by transportation, warehousing, postal and courier services increased by 10.5% in the second quarter of 2024 compared to the same period last year, while the increase in the first quarter was 19.5%. The value added by information and communication industries increased by 2.2% in the second quarter of 2024 compared to the same period last year, similar to the increase in the first quarter. The value added by financial and insurance industries increased by 0.3% in the second quarter of 2024 compared to the same period last year, while it decreased by 0.5% in the first quarter. The value added by real estate, professional and commercial services industries recorded a substantial increase of 3.2% in the second quarter of 2024 compared to the same period last year, while the increase in the first quarter was 1.2%. The value added by public administration, social and personal services increased by 2.8% in the second quarter of 2024 compared to the same period last year, slightly lower than the increase of 3.1% in the first quarter. In industries other than service industries, the value added by local manufacturing increased by 0.7% in the second quarter of 2024 compared to the same period last year, while it increased by 1.8% in the first quarter. The value added by electricity, gas, water supply and waste management industries increased by 1.6% in the second quarter of 2024 compared to the same period last year, lower than the 4.3% increase in the first quarter. The value added by the construction industry, which had already increased by 9.2% in the first quarter of 2024 compared to the same period last year, further increased by 17.2% in the second quarter.