Hong Kong services post broad gains in Q1

Trade recorded the largest increase whilst IT services rise sharply YoY.

Business receipts across most major service industries in Hong Kong increased in the first quarter of 2026 from a year earlier, led by the import and export trade sector at 33.3%, according to provisional figures from the Census and Statistics Department (C&SD).

Other service industries also recorded gains. Insurance receipts rose 31.0%, financing excluding banking increased 19.5%, whilst wholesale, retail and banking grew 17.4%, 12.1%, and 11.7% respectively.

Warehousing and storage was the only major sector to record a decline, with receipts down 2.0%.

By service domain, computer and information technology services recorded the strongest growth, rising 103.3% year on year (YoY). The tourism, convention and exhibition services domain increased 8.3%.

On a quarter-to-quarter (QoQ) basis, most major industries also saw gains compared with the fourth quarter of 2025. Insurance rose 31.8%, import/export trade increased 29.9%, wholesale grew 16.9%, and banking rose 15.4%.

Financing excluding banking declined 12.1% over the same period.

The IT services domain increased 41.2% QoQ, whilst tourism-related services edged down 0.8%.

A government spokesman said most service industries recorded YoY growth in the first quarter, with trade, insurance, finance, retail, and banking amongst the main contributors.

They added that continued economic expansion and higher inbound visitor numbers are expected to support the sector, whilst noting external risks from geopolitical tensions and global uncertainty.

The data is based on the Quarterly Survey of Service Industries conducted by C&SD, supplemented by figures from the Hong Kong Monetary Authority and the Hong Kong Tourism Board.