Hong Kong GDP Expands 1.2% in Q4

In the fourth quarter of 2012, Hong Kong GDP increased by 1.2 percent over the previous quarter. The main contributors to the growth were private and government spending and exports.

Private consumption expenditure increased by 1.5 percent, compared to the growth of 1.3 percent recorded in the previous three months. Government consumption expenditure rose by 0.7 percent, compared to the growth of 0.8 percent recorded in the third quarter.

Total exports of goods increased by 4.8 percent, improving further from the increase of 3.0 percent in the third quarter of 2012. Exports of services expanded 2.1 percent from a 2.1 percent decrease. Likewise, imports of goods increased by 5.2 percent in real terms, expanding from the 1.5 percent increase in the third quarter. Imports of services expanded 1.2 percent from a 1.2 percent decrease.
On a year-over-year basis, GDP increased by 2.5 percent, compared with the 1.4 percent increase in the third quarter of 2012.
For the whole year of 2012, GDP rose only 1.4 percent, much lower than the average of 4.5 per cent over the past ten years.

Joana Taborda | joana.taborda@tradingeconomics.com
2/27/2013 2:42:17 PM