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

The Hong Kong economy advanced 3.4 percent year-on-year in the December quarter of 2017, following an upwardly revised 3.7 percent expansion in the previous period. It was the weakest pace of expansion since the fourth quarter 2016, as a marked slowdown in government spending and exports of goods offset a rebound in investment while private consumption was stable. Considering full 2017, the economy grew by 3.8 percent, much stronger than a 2.1 percent expansion in 2016. On a quarterly basis, the GDP advanced 0.8 percent, the same as an upwardly revised figure in the prior quarter. GDP Annual Growth Rate in Hong Kong averaged 5.26 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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Hong Kong Q4 GDP Growth Weakest in A Year


The Hong Kong economy advanced 3.4 percent year-on-year in the December quarter of 2017, following an upwardly revised 3.7 percent expansion in the previous period. It was the weakest pace of expansion since the fourth quarter 2016, as a marked slowdown in government spending and exports of goods offset a rebound in investment while private consumption was stable.

Positive contribution to GDP came from private consumption (4.1 percentage points); fixed investment (1.1 percentage points) and government spending (0.3 percentage points). Also, changes in inventories added 0.4 percentage points to growth. 

In the fourth quarter, private consumption increased by 6.3 percent, the same as in the September quarter. Government spending expanded by 3.1 percent, following a 4.5 percent rise in Q3. Gross fixed capital formation grew by 4.7 percent, reversing from a 1.3 percent decline in the previous period. Within fixed investment, expenditure on machinery, equipment and intellectual property products increased by 10.1 percent, as against the fall of 4.3 percent in Q3. Exports of goods went up by 3.4 percent, after a 5.7 percent increase in the third quarter. Imports rose by 5.4 percent (from 6.3 percent). Exports of services advanced 4.0 percent (from 3.9 percent) and imports of services increased at a slower 0.6 percent (from 1.6 percent).

Considering full 2017, the economy grew by 3.8 percent, much stronger than a 2.1 percent expansion in 2016. 

On a quarterly basis, the GDP advanced 0.8 percent, the same as an upwardly revised figure in the prior quarter. Private consumption rose by 1.4 percent (from 2 percent in the September quarter). Meantime, government spending contracted 0.3 percent (from 1.8 percent). Exports of goods rose 1.1 percent (from 0.7-percent) and imports increased by 2.4 percent (from 1.5 percent). Exports of services went up 0.5 percent (from -1.2 percent in Q3) while imports grew by 0.3 percent, the same as in the prior period.


Rida Husna | rida@tradingeconomics.com
2/28/2018 5:49:41 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-08-11 08:30 AM GDP Growth Rate YoY 3.8% 4.3% 3.7%
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 3.4% 3.70%
2018-08-10 08:30 AM GDP Growth Rate YoY 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 0.80 0.80 6.10 -3.40 percent [+]
GDP Annual Growth Rate 3.40 3.70 20.70 -8.10 percent [+]
GDP 320.91 309.40 320.91 1.32 USD Billion [+]
GDP Constant Prices 680623.00 647006.00 680623.00 67245.00 HKD Million [+]
Gross National Product 697925.00 678372.00 697925.00 337374.00 HKD Million [+]
Gross Fixed Capital Formation 155921.00 134843.00 157802.00 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 382.00 387.00 602.00 361.00 HKD Million [+]
GDP From Construction 31177.00 28204.00 31177.00 13065.00 HKD Million [+]
GDP From Manufacturing 6798.00 6996.00 11028.00 6211.00 HKD Million [+]
GDP From Public Administration 108974.00 110153.00 110153.00 69348.00 HKD Million [+]
GDP From Services 617269.00 581023.00 617269.00 268771.00 HKD Million [+]
GDP From Transport 40716.00 39385.00 40716.00 17352.00 HKD Million [+]
GDP From Utilities 7637.00 10462.00 10860.00 6236.00 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 April of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.40 3.70 20.70 -8.10 1974 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 7.30 Dec/17
India 7.20 Dec/17
China 6.80 Mar/18
Indonesia 5.19 Dec/17
Spain 3.10 Dec/17
Canada 2.90 Dec/17
Germany 2.90 Dec/17
Netherlands 2.90 Dec/17
South Korea 2.80 Dec/17
Euro Area 2.70 Dec/17
United States 2.60 Dec/17
France 2.50 Dec/17
Australia 2.40 Dec/17
Brazil 2.10 Dec/17
Japan 2.00 Dec/17
Switzerland 1.90 Dec/17
Italy 1.60 Dec/17
Mexico 1.50 Dec/17
United Kingdom 1.40 Dec/17
Russia 0.90 Dec/17


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