Hong Kong GDP Annual Growth Rate  1974-2018 | Data | Chart | Calendar

The Hong Kong economy advanced 4.7 percent year-on-year in the first quarter of 2018, following a 3.4 percent expansion in the previous period. It was the highest growth rate since the second quarter 2011, mainly boosted by a jump in household consumption and exports. On a quarterly basis, the GDP advanced 2.2 percent, advancing from 0.8 percent in the prior quarter. GDP Annual Growth Rate in Hong Kong averaged 5.26 percent from 1974 until 2018, reaching an all time high of 20.70 percent in the fourth quarter of 1976 and a record low of -8.10 percent in the third quarter of 1998.

Hong Kong GDP Annual Growth Rate
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Hong Kong GDP Growth Strongest since 2011


The Hong Kong economy advanced 4.7 percent year-on-year in the first quarter of 2018, following a 3.4 percent expansion in the previous period. It was the strongest growth rate since the second quarter of 2011.

Positive contribution to GDP growth came from exports of goods and services, 7.8 percentage points and 2.4 percentage points respectively, and private consumption (5.7 percentage points).

In the first quarter, private consumption increased by 8.6 percent, from 6.3 percent in Q4; government spending expanded by 3.9 percent, following a 3.2 percent rise and gross fixed capital formation grew by 3.8 percent, from 3.1 percent in the previous period. Within fixed investment, expenditure on building & construction increased by 1 percent, as against the fall of 2.6 percent in Q4. Exports of goods went up by 5.2 percent (from 3.4 percent) and imports rose by 6.9 percent (from 5.4 percent). Exports of services advanced 7.5 percent (from 3.9 percent) and imports of services increased at a slower 3.8 percent (from 0.8 percent).

On a quarterly basis, the GDP advanced 2.2 percent, following a 0.8 percent rise in the prior quarter. It is the highest quarterly growth rate since the first three months of 2011. Private consumption rose by 3.1 percent (from 1.5 percent in the fourth quarter of 2017). Meantime, government spending went up 1.2 percent, rebounding from a 0.2 percent decline. Exports of goods rose 3.1 percent (from 1.1 percent) and imports increased by 2.3 percent, easing from 2.4 percent. Exports of services went up 4.8 percent (from 1.2 percent) while imports grew by 3.2 percent, from 0.8 percent in the prior period.


Census and Statistics Department | Gabriela Costa | gabriela.costa@tradingeconomics.com
5/11/2018 10:03:33 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-11-10 08:30 AM GDP Growth Rate YoY 3.6% 3.9% 4% 3.9%
2018-02-28 03:45 AM GDP Growth Rate YoY 3.4% 3.7% 3.6%
2018-05-11 08:30 AM GDP Growth Rate YoY 4.7% 3.4% 3.70%
2018-08-10 08:30 AM GDP Growth Rate YoY 4.7% 3.70%
2018-11-16 08:30 AM GDP Growth Rate YoY 3.70%


Hong Kong GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.20 0.80 6.10 -3.40 percent [+]
GDP Annual Growth Rate 4.70 3.40 20.70 -8.10 percent [+]
GDP 320.91 309.40 320.91 1.32 USD Billion [+]
GDP Constant Prices 652077.00 691816.00 691816.00 68360.00 HKD Million [+]
Gross National Product 672800.00 708633.00 708633.00 341738.00 HKD Million [+]
Gross Fixed Capital Formation 131961.00 153369.00 157576.00 15765.00 HKD Million [+]
GDP per capita 36725.60 36191.40 36725.60 3380.60 USD [+]
GDP per capita PPP 54279.20 53489.60 54279.20 26974.30 USD [+]
GDP From Agriculture 453.00 461.00 837.00 429.00 HKD Million [+]
GDP From Construction 33256.00 30261.00 34156.00 15319.00 HKD Million [+]
GDP From Manufacturing 6870.00 7064.00 10830.00 6097.00 HKD Million [+]
GDP From Public Administration 113669.00 115186.00 115186.00 75563.00 HKD Million [+]
GDP From Services 624615.00 588170.00 624615.00 281693.00 HKD Million [+]
GDP From Transport 39146.00 37867.00 39146.00 17565.00 HKD Million [+]
GDP From Utilities 7697.00 10318.00 10855.00 6232.00 HKD Million [+]


Hong Kong GDP Annual Growth Rate

In recent years, Hong Kong has become an international hub for business, trade and finance importers willing to access the Chinese market. As such, the largest sector of the economy is services, which accounts for around 93 percent of GDP. Within services, the most important are wholesale and retail trade (25 percent of GDP); public administration and social services (17 percent); finance and insurance (16 percent); real estate and business services (11 percent); ownership of premises (10 percent) and transportation and postal services (6 percent). Information and communications and food and accommodation account for 8 percent. Construction represents 3.5 percent of GDP and electricity, water and gas supply, waste management and manufacturing 3.4 percent. This page provides - Hong Kong GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hong Kong GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
4.70 3.40 20.70 -8.10 1974 - 2018 percent Quarterly




GDP annual growth rate by Country
Country Last
India 7.70 Mar/18
Turkey 7.40 Mar/18
China 6.80 Mar/18
Indonesia 5.06 Mar/18
Australia 3.10 Mar/18
Spain 3.00 Mar/18
Netherlands 2.80 Mar/18
South Korea 2.80 Mar/18
United States 2.80 Mar/18
Euro Area 2.50 Mar/18
Canada 2.30 Mar/18
Germany 2.30 Mar/18
France 2.20 Mar/18
Switzerland 2.20 Mar/18
Italy 1.40 Mar/18
Mexico 1.30 Mar/18
Russia 1.30 Mar/18
Brazil 1.20 Mar/18
United Kingdom 1.20 Mar/18
Japan 1.10 Mar/18


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