Hong Kong GDP expanded 0.2% on quarter in the last three months of 2020, in line with preliminary figures. Private consumption continued to increase although at a slower pace (1.4% vs 2.6% in Q3), the same as exports (4.1% vs 4.9%) and imports of goods (5.4% vs 7.1%) while government spending edged up (0.3% vs 0.1%). Year-on-year, the economy shrank 3%, unrevised from flash figures. Considering full 2020, the GDP contracted 6.1%, the worst annual performance on record, due to the coronavirus pandemic. The city’s economy is expected to grow 3.5% to 5.5% in 2021 and run at an average growth rate of 3.3% annually from 2022 to 2025, according to government forecasts. source: Census and Statistics Department, Hong Kong
GDP Growth Rate in Hong Kong averaged 0.81 percent from 1990 until 2020, reaching an all time high of 6.10 percent in the third quarter of 2003 and a record low of -5.50 percent in the first quarter of 2020. This page provides - Hong Kong GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hong Kong GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
GDP Growth Rate in Hong Kong is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Hong Kong to stand at 1.00 in 12 months time. In the long-term, the Hong Kong GDP Growth Rate is projected to trend around 1.00 percent in 2022, according to our econometric models.