Hong Kong economy grows 7.5 per cent in second quarter, reflecting receding coronavirus crisis and improving global outlook

Official forecast shows economy is on the path to recovery as business prospects brighten across the world and with Covid-19 in retreat locally, government says

Year-on-year quarterly growth continues at highest levels seen for a decade amid a relaxation of social-distancing rules

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Hong Kong saw continued GDP growth in the second quarter of the year, coinciding with a relaxation of social-distancing rules. Photo: K. Y. Cheng

Published: 4:51pm, 30 Jul 2021Updated: 11:32pm, 30 Jul 2021

Hong Kong’s economic rebound continued in the second quarter of 2021, with gross domestic product growing 7.5 per cent year on year as business activities revived amid a relaxation of social-distancing rules.

The advanced forecast by the Census and Statistics Department on Friday showed the Hong Kong economy was on the path to recovery, a government spokesman said, with global commercial conditions improving despite the coronavirus pandemic.

The new figure maintains the trend of Hong Kong posting its highest levels of year-on-year quarterly growth for a decade.

Over the first half of 2021 as a whole, real GDP grew 7.8 per cent from the same period the previous year.

“Looking ahead, the global economic recovery should continue to support Hong Kong’s exports of goods in the near term, though there may be some moderation from the exceptionally strong performance in the first half of 2021. Exports of services should likewise sustain growth,” he said.