fix

packages/svelte/src/compiler/phases/3-transform/client/utils.js

@@ -7,6 +7,7 @@ import {
 	PROPS_IS_RUNES,
 	PROPS_IS_UPDATED
 } from '../../../../constants.js';
+import { GlobalBindings } from '../../constants.js';
 
 /**
  * @template {import('./types').ClientTransformState} State
@@ -548,6 +549,8 @@ export function is_hoistable_declaration(binding, name) {
 		!binding.mutated &&
 		!binding.reassigned &&
 		binding.initial?.type === 'Literal' &&
-		!binding.scope.declared_in_outer_scope(name)
+		binding.scope.has_parent() && // i.e. not when context="module"
+		!binding.scope.declared_in_outer_scope(name) &&
+		!GlobalBindings.has(name)
 	);
 }

packages/svelte/src/compiler/phases/scope.js

@@ -4,7 +4,7 @@ import { is_element_node } from './nodes.js';
 import * as b from '../utils/builders.js';
 import { error } from '../errors.js';
 import { extract_identifiers, extract_identifiers_from_expression } from '../utils/ast.js';
-import { GlobalBindings, JsKeywords, Runes } from './constants.js';
+import { JsKeywords, Runes } from './constants.js';
 
 export class Scope {
 	/** @type {ScopeRoot} */
@@ -127,6 +127,11 @@ export class Scope {
 		return binding;
 	}
 
+	/** @returns {boolean} */
+	has_parent() {
+		return this.#parent !== null;
+	}
+
 	/**
 	 * @param {string} name
 	 * @returns {boolean}
@@ -139,7 +144,7 @@ export class Scope {
 			}
 			outer = outer.#parent;
 		}
-		return GlobalBindings.has(name) || JsKeywords.includes(name);
+		return false;
 	}
 
 	child(porous = false) {