Hong Kong Current Account to GDP

Hong Kong recorded a Current Account surplus of 2.10 percent of the country's Gross Domestic Product in 2013. Current Account to GDP in Hong Kong is reported by the Census and Statistics Department, Hong Kong. Current Account to GDP in Hong Kong averaged 4.66 Percent from 1980 until 2013, reaching an all time high of 13.70 Percent in 2008 and a record low of -6.30 Percent in 1995. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Hong Kong Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.10 1.60 13.70 -6.30 1.45 | 2014/06 1980 - 2013 Percent Yearly

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Hong Kong Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
Current Account 18952.00 2013-11-15 31817.00 92020.00 -6817.00 24496.36 2014-03-31 HKD Million [+]
Balance of Trade -53673.00 2014-02-15 -19979.00 7227.80 -54351.00 -52095.63 2014-03-31 HKD Million [+]
Exports 212914.00 2014-02-15 303456.00 325522.00 172.00 284219.57 2014-03-31 HKD Million [+]
Imports 266587.00 2014-02-15 323436.00 370104.00 230.00 328494.24 2014-03-31 HKD Million [+]
Current Account to GDP 2.10 2013-12-31 1.60 13.70 -6.30 1.45 2014-06-30 Percent [+]
Capital Flows -45288.00 2013-11-15 -8589.00 31399.00 -89673.00 -18005.22 2014-03-31 HKD Million [+]
Terms of Trade 100.00 2014-01-15 100.60 108.50 99.00 100.12 2014-02-28 Index Points [+]
Tourist Arrivals 1784015.00 2014-02-15 1666135.00 2035367.00 211328.00 1777297.45 2014-03-31 [+]
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Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


RELATED NEWS

Hong Kong Trade Deficit Widens 58% YoY in February  
Hong Kong’s trade deficit increased sharply to HKD 53.7 billion in February of 2014 as exports fell by an annual 1.3 percent. Yet, taking January and February as a whole to neutralize the distortion caused by the difference in timing of the Lunar New Year holidays, export performance in the first two months of 2014 was rather sluggish.
Hong Kong Inflation Rate Slows to 9-Month Low  
In February of 2014, Hong Kong’s inflation rate eased to 3.9 percent, down from 4.6 percent in the previous month. The smaller increase was mainly due to the difference in the timing of the Lunar New Year, which fell in late January and early February this year but in mid-February last year, resulting in smaller increase in prices for package tours and meals bought away from home. Cost of private housing rentals also slowed.
Hong Kong Unemployment Rate Stable at 3.1%  
In the period December of 2013 - February of 2014, Hong Kong jobless rate remained unchanged at a 16-year low 3.1 percent. Total employment declined from its historic high, as business activities returned to a more normal level after its peak in Lunar New Year.
Hong Kong Economy Advances 1.1% QoQ in Q4  
In the fourth quarter of 2013, Hong Kong’s GDP expanded at its fastest pace in the last four quarters at 1.1 percent on a quarter-on-quarter seasonally adjusted basis
Hong Kong GDP Growth Accelerates in Q4  
In the fourth quarter of 2013, Hong Kong's economy expanded at a faster 3 percent over a year earlier, up from a downward revised 2.8 percent in the previous three-month period. In 2014, the economy is expected to grow between 3 to 4 percent, better than a 2.9 percent expansion in 2013.
Hong Kong Trade Deficit Narrows Sharply in January  
In January of 2014, Hong Kong’s trade deficit decreased 63 percent over a month earlier to HKD 19.8 billion, due to a fall in imports. A year earlier the trade deficit reached HKD 27.5 billion, as the Chinese New Year fell in late January and early February in 2014 but in mid-February in 2013.
Hong Kong Inflation Rate Accelerates in January  
In January of 2014, Hong Kong’s annual inflation rate rose 4.6 percent, the highest rate in the last four months, due mainly to the difference in timing of the Lunar New Year, which fell in late January and early February this year, but in mid-February last year.
Hong Kong Unemployment Rate Edges Down in January  
The seasonally adjusted unemployment rate decreased from 3.2 percent in October - December 2013 to 3.1 percent in November 2013 - January 2014. It is the lowest jobless rate in almost 16 years, as total employment hit a fresh new high due to the Lunar New Year, while the number of unemployed persons declined for the fifth consecutive month.
Hong Kong Trade Deficit Widens in December  
In December of 2013, Hong Kong trade deficit increased to HKD 54.4 billion, as exports were unchanged from a year earlier and imports rose 1.8 percent. For 2013 as a whole, a visible trade deficit of HKD 501.0 billion, equivalent to 12.3 percent of the value of imports of goods was recorded.
Hong Kong Inflation Rate Unchanged in December  
In December of 2013, Hong Kong annual inflation rate remained unchanged at 4.3 percent for the second straight month. Netting out the effects of all Government's one-off relief measures, the underlying inflation rate was 3.9 percent, slightly lower than 4 percent in November, mainly due to small price increases of fresh vegetables.
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