The total income of local residents in Hong Kong rose 1.5% year on year to HK$908.2 billion in the third quarter of 2025

The Zhitong Finance App learned that on December 15, the Statistics Department of the Hong Kong Government published preliminary statistics on the total income of local residents in Hong Kong and related figures for the third quarter of 2025. The total income of local residents in Hong Kong in the third quarter of 2025, calculated at current market prices (the total income earned by Hong Kong residents through various economic activities) increased by 1.5% over the same period last year to HK$908.2 billion. The estimated GDP for the same quarter was HK$853.7 billion at current market prices, an increase of 4.8% over the previous year. The total income of local residents in the third quarter of 2025 was HK$54.5 billion higher than the GDP, equivalent to 6.4% of the GDP for the quarter, mainly due to the net inflow of investment income.

After deducting the impact of price changes during this period, the total income of Hong Kong residents in the third quarter of 2025 actually increased by 0.2% compared to the same period of the previous year, while the gross domestic product rose by 3.8% in real terms in the same quarter.

The total initial revenue inflow to Hong Kong in the third quarter of 2025 (mainly including investment income) was HK$576.1 billion, down 7.4% from the same period last year, equivalent to 67.5% of the gross domestic product for the quarter. At the same time, the total initial revenue outflow for the third quarter of 2025 also fell 3.8% from the same period last year to HK$521.5 billion, equivalent to 61.1% of the GDP for the quarter.

As far as the main component of investment income inflows is concerned, direct investment income decreased by 4.9% compared to the same period last year, mainly due to a decrease in direct investment income from some large local enterprises abroad. Securities investment income recorded a significant decrease of 10.6% compared to the same period last year, mainly due to a decrease in dividend income from non-local equity securities obtained by local investors.

As far as the main component of investment income outflows is concerned, direct investment income decreased by 4.1% compared to the same period last year, mainly due to the decline in local direct investment income of some large multinational enterprises. Securities investment income increased by 7.6%, mainly due to increased interest income from local debt securities obtained by non-local investors and increased dividend income from local equity securities obtained by non-local investors.

According to country/region analysis, in the third quarter of 2025, mainland China continued to be the main source of initial total revenue inflows to Hong Kong, accounting for 40.7% of the total inflow for the quarter. The British Virgin Islands was followed by 16.0%. In terms of total initial revenue outflows, mainland China and the British Virgin Islands continued to be the top destinations in the third quarter of 2025, accounting for 36.0% and 18.4% of total outflows for the quarter, respectively.