The Hong Kong economy shed 0.9 percent over a quarter in the three months ending June of 2021, following an upwardly revised 5.5 percent expansion in the first quarter of the year and almost in line with flash estimates of a 1 percent drop. It was the first decline in GDP since the second quarter of last year, due to a high base effect because of exceptionally strong trade performance in the first three months of 2021, with shipments of goods falling 1.9 percent (vs 14.3 percent in Q1) and exports of services slumped 7.7 percent (vs 10.2 percent), while imports of goods went up 1 percent (vs 10.6 percent) and those of services slid 7.2 percent (vs 5.1 percent). On the domestic side, private spending gained some momentum (1.5 percent vs 1.4 percent), while government consumption expenditure retreated (-2.1 percent vs 3.6 percent). source: Census and Statistics Department, Hong Kong
GDP Growth Rate in Hong Kong averaged 0.84 percent from 1990 until 2021, reaching an all time high of 6.10 percent in the third quarter of 2003 and a record low of -5.60 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 October of 2021.
GDP Growth Rate in Hong Kong is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.