The Census and Statistics Department revealed on Friday the first-quarter figure was the same as its advanced estimate, with the government saying it would stick with its full-year growth forecast of between 2.5 per cent and 3.5 per cent.
Government economist Adolf Leung Wing-sing said a continued revival in post-pandemic tourism would help support the export of services as the sector’s handling capacity recovered and authorities pushed to host more mega events.
He also expected goods exports to improve further if external demand held up, despite the uncertainties brought about by geopolitical tensions.
But Leung warned of challenges arising from residents’ changing consumption habits even though the government had launched initiatives to improve market sentiment, as he added that wages were also rising.
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