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 Reference 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



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 309.23 291.23 309.23 1.32 USD Billion [+]
GDP Constant Prices 611429.00 657542.00 657542.00 67245.00 HKD Million [+]
Gross National Product 682811.00 643175.00 682811.00 337376.00 HKD Million [+]
Gross Fixed Capital Formation 126753.00 148405.00 157800.00 15787.00 HKD Million [+]
GDP per capita 36173.30 35624.90 36173.30 4902.70 USD [+]
GDP per capita PPP 53463.00 52652.30 53463.00 26974.39 USD [+]
GDP From Agriculture 330.00 338.00 602.00 301.00 HKD Million [+]
GDP From Construction 28203.00 24776.00 28203.00 13065.00 HKD Million [+]
GDP From Manufacturing 6956.00 7169.00 11028.00 6211.00 HKD Million [+]
GDP From Public Administration 100838.00 101585.00 102175.00 69348.00 HKD Million [+]
GDP From Services 576119.00 542268.00 576119.00 268771.00 HKD Million [+]
GDP From Transport 36979.00 39295.00 39295.00 17352.00 HKD Million [+]
GDP From Utilities 7807.00 9966.00 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 May 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
India 7.00 Dec/16
China 6.90 Mar/17
Indonesia 5.01 Mar/17
Turkey 3.50 Dec/16
Netherlands 3.40 Mar/17
Spain 3.00 Mar/17
Mexico 2.80 Mar/17
South Korea 2.70 Mar/17
Australia 2.40 Dec/16
United Kingdom 2.00 Mar/17
United States 2.00 Mar/17
Canada 1.90 Dec/16
Euro Area 1.70 Mar/17
Germany 1.70 Mar/17
Japan 1.60 Mar/17
France 0.80 Mar/17
Italy 0.80 Mar/17
Switzerland 0.60 Dec/16
Russia 0.50 Mar/17
Brazil -2.50 Dec/16