Hong Kong's economy expanded by 4.8% year-on-year in the fourth quarter of 2021, moderating from an upwardly revised 5.5% jump in the previous period and marginally above market expectations of 4.7%, the preliminary estimate showed. Economic growth was attributable to the sustained solid growth in both domestic and external demand. Household spending advanced by 6.0% (vs 6.8% in Q3), public spending rose 4.1% (vs 5.0%), and fixed investment inched up by 0.1% (vs 13.1% ). In addition, net external demand had a positive impact on GDP growth, as exports jumped 13.3% (vs 14.2%), while imports climbed 9.7% (vs 16.9%). On a seasonally adjusted quarterly basis, the economy edged 0.1% higher, slowing from a 0.6% advance in the previous quarter. For 2021 as a whole, the economy grew 6.4% but remained 2% below 2018 levels. Looking ahead, the Hong Kong government sees 2022 as another year of growth, although relying on various uncertainties, such as the recent spike in coronavirus infections. source: Census and Statistics Department, Hong Kong
GDP Annual Growth Rate in Hong Kong averaged 4.87 percent from 1974 until 2021, reaching an all time high of 20.50 percent in the fourth quarter of 1976 and a record low of -9.10 percent in the first quarter of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
GDP Annual Growth Rate in Hong Kong is expected to be 3.00 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 Annual Growth Rate is projected to trend around 2.30 percent in 2023, according to our econometric models.