Manufacturers raise Hong Kong's GDP growth forecast for this year to 3.5%

The president of the Manufacturers' Association, Lu Jinrong, stated that although developed economies have not yet emerged from a state of economic weakness, and the new tariff policy of the Trump administration has once again added uncertainty to the global trade outlook, Hong Kong businesses have been continuously optimizing their global supply chain layout in recent years and believe they have the capability to meet the challenges.

He expects that Hong Kong's merchandise exports will maintain growth this year, but the growth rate may slow to single digits; meanwhile, service trade exports, driven by active financial markets and the recovery of tourism, are expected to maintain a strong growth momentum.

President Lu analyzed that in the past year, Hong Kong's economy achieved a growth of 3.5%, surpassing market expectations, reflecting that confidence, capital, and talent are accelerating their return, and the momentum for high-quality development continues to strengthen. Therefore, the Manufacturers' Association has raised its GDP growth forecast for the entire year of 2026 from the original 3% to 3.5%