Hong Kong GDP Growth Accelerates in Q4


In the fourth quarter of 2013, Hong Kong's economy expanded at a faster 3 percent over a year earlier, up from a downward revised 2.8 percent in the previous three-month period. In 2014, the economy is expected to grow between 3 to 4 percent, better than a 2.9 percent expansion in 2013.

Both private and government consumption rose 3.2 percent over a year earlier, after increasing by 2.4 percent and 2.3 percent respectively in the previous quarter. 

Gross domestic fixed capital formation advanced 5.3 percent in real terms in the fourth quarter of 2013 over a year earlier, after the 2.8 percent growth in the third quarter. 

Expenditure on machinery, equipment and intellectual property products increased significantly by 17.2 percent. On the other hand, expenditure on building and construction decreased by 4.1 percent as private sector investment fell 3.4 percent and that of the public sector decreased by 5.3 percent.

Exports of goods increased by 5.8 percent, slowing from a 6.2 percent rise in the previous quarter. Likewise, imports of goods increased by 6.5 percent in the fourth quarter of 2013, compared with the 6.8 percent increase in the third quarter. 

Quarter-on-quarter, the economy expanded a seasonally adjusted 1.1 percent. 

Hong Kong GDP Growth Accelerates in Q4


Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
2/26/2014 10:44:51 AM