As a special administrative region in China, Hong Kong has its own trade policies but is still vulnerable to floating US tariffs due to its significant re-exporting of Chinese goods.

Friday's preliminary figure far outstripped a Bloomberg estimate of 3.0 percent, driven by a continued surge in exports and sustained expansion in domestic demand.

The economy should see "further solid growth" for the rest of the year, a government spokesperson said, adding that the trade barriers still warrant close monitoring.

The Hong Kong Monetary Authority (HKMA) reduced the main interest rate this week following the US central bank's cut due to a currency peg, in line with market expectations.

"The renewed interest rate cuts in the United States since this September are conducive to boosting asset market sentiment," the government spokesperson said, adding that they saw stabilisation in the residential property market.

However, the HKMA has warned that the pace of future rate cuts remains "quite uncertain".

The city's jobless rate climbed to 3.9 percent in the July-September quarter, according to provisional data released this month, with officials attributing that to an economic transformation.

Consulting firm Deloitte warned in a report on Friday that the industrial transformation in Hong Kong's economy, which is heavily weighted on the services sector, was constrained by limited land and talent.

Friday's figures also showed private consumption expenditure increased by 2.1 percent.

Exports of goods grew 12.2 percent, propelled by strong demand for electronic products and buoyant regional trade flows, with an increase of 6.1 percent in services exports.

Hong Kong has set a growth goal of 2.0 to 3.0 percent for this year.