Hong Kong GDP Annual Growth Rate  1974-2017 | Data | Chart | Calendar

The Hong Kong economy expanded 4.3 percent year-on-year in the first three months of 2017, higher than an upwardly revised 3.2 percent in the previous period and beating expectations of 3.4 percent. It is the biggest growth rate since the second quarter of 2011 as private consumption accelerated for the third period and exports rose the most in more than three years. GDP Annual Growth Rate in Hong Kong averaged 5.29 percent from 1974 until 2017, 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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Calendar GMT Actual Previous Consensus Forecast (i)
2016-11-11 08:30 AM Q3 1.9% 1.7% 1.6% 1.9%
2017-02-22 03:50 AM Q4 3.1% 2.0% 2.2%
2017-05-12 08:30 AM Q1 4.3% 3.2% 3.4% 3.4%
2017-08-11 08:30 AM Q2 4.3% 2.7%
2017-11-10 08:30 AM Q3 2.5%




Hong Kong GDP Annual Growth At Near 6-Year High Of 4.3%


The Hong Kong economy expanded 4.3 percent year-on-year in the first three months of 2017, higher than an upwardly revised 3.2 percent in the previous period and beating expectations of 3.4 percent. It is the biggest growth rate since the second quarter of 2011 as private consumption accelerated for the third period and exports rose the most in more than three years.

Private consumption went up 2.5 percent (2.3 percent in Q4); public spending increased 0.4 percent (0.3 percent in Q4) and gross fixed capital formation rose 1.3 percent (1.2 percent in Q4). In addition, exports jumped 13.7 percent (8.4 percent in Q4) while imports shrank 15.5 percent (-9.4 percent in Q4), marking the fourth period of decline. 

On a quarterly basis, the GDP advanced 0.7 percent, easing from a 1.2 percent expansion in Q4 but beating expectations of 0.6 percent. Private consumption slowed (0.4 percent from 1.5 percent in Q4) while government spending went up at a faster 1.2 percent (0.9 percent in Q4). In addition, both exports (1.5 percent from 3.9 percent) and imports (0.2 percent from 4 percent) slowed. 

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
5/12/2017 9:17:27 AM


Recent Releases

Hong Kong GDP Growth Strongest In 1-1/2-Year In Q4
The Hong Kong economy grew 3.1 percent year-on-year in the fourth quarter of 2016, compared to an upwardly revised 2.0 percent expansion in the September quarter. It was the strongest growth since the June quarter 2015, mainly supported by a faster rise in private consumption and exports of goods while government spending and investment expanded further.
Published on 2017-02-22

Hong Kong GDP Growth Beats Expectations in Q3
The Hong Kong economy advanced 1.9 percent year-on-year in the third quarter of 2016, higher than a 1.7 percent expansion in the previous period and above market expectations of 1.6 percent, boosted by private spending and investment.
Published on 2016-11-11

Hong Kong Economy Expands 1.7% YoY in Q2
The Hong Kong GDP advanced 1.7 percent year-on-year in the second quarter of 2016, compared to 0.8 percent expansion in the previous period. This was largely underpinned by a pick-up in goods exports while private consumption expenditure growth slowed down. On a seasonally adjusted quarter-to-quarter comparison, the economy rebounded distinctly by 1.6 percent, after the 0.5 percent decline in the preceding quarter.
Published on 2016-08-12

Hong Kong GDP Growth Weakest in 4 Years
The Hong Kong economy advanced 0.8 percent year-on-year in the March quarter of 2016, slowing from 1.9 percent expansion in the previous period. It is the lowest growth since the first quarter of 2012, as deterioration in external environment led to a deeper setback in both goods and services trade. The domestic sector also lost some momentum, as the weak global outlook with rising downside risks affected local economic sentiment. This, together with the continued slowdown in inbound tourism, posed a severe drag on retail sales, which saw the largest year-on-year decline since the Asian financial crisis in 1998. On a quarterly basis, the economy contracted 0.4 percent as compared to 0.2 percent growth in the preceding quarter, the biggest fall since 2011.
Published on 2016-05-13



Hong Kong GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 1.20 6.10 -3.40 percent [+]
GDP Annual Growth Rate 4.30 3.20 20.70 -8.10 percent [+]
GDP 320.91 309.40 320.91 1.32 USD Billion [+]
GDP Constant Prices 611429.00 657542.00 657542.00 67245.00 HKD Million [+]
Gross National Product 626565.00 682811.00 682811.00 337376.00 HKD Million [+]
Gross Fixed Capital Formation 126753.00 148405.00 157800.00 15787.00 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 376.00 330.00 602.00 301.00 HKD Million [+]
GDP From Construction 29358.00 28203.00 29358.00 13065.00 HKD Million [+]
GDP From Manufacturing 6221.00 6956.00 11028.00 6211.00 HKD Million [+]
GDP From Public Administration 102254.00 100838.00 102254.00 69348.00 HKD Million [+]
GDP From Services 543187.00 576119.00 576119.00 268771.00 HKD Million [+]
GDP From Transport 38460.00 36979.00 39295.00 17352.00 HKD Million [+]
GDP From Utilities 7664.00 7807.00 10860.00 6236.00 HKD Million [+]


Hong Kong GDP Annual Growth Rate Notes

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 July of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
4.30 3.20 20.70 -8.10 1974 - 2017 percent Quarterly



gdp annual growth rate by Country

Last
China 6.90 Mar/17
India 6.10 Mar/17
Indonesia 5.01 Mar/17
Turkey 5.00 Mar/17
Netherlands 3.20 Mar/17
Spain 3.00 Mar/17
South Korea 2.90 Mar/17
Mexico 2.80 Mar/17
Canada 2.30 Mar/17
United States 2.10 Mar/17
United Kingdom 2.00 Mar/17
Euro Area 1.90 Mar/17
Australia 1.70 Mar/17
Germany 1.70 Mar/17
Japan 1.30 Mar/17
Italy 1.20 Mar/17
France 1.10 Mar/17
Switzerland 1.10 Mar/17
Russia 0.50 Mar/17
Brazil -0.40 Mar/17