Hong Kong GDP Growth Rate

The Gross Domestic Product (GDP) in Hong Kong expanded 0.20 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in Hong Kong averaged 0.97 Percent from 1990 until 2014, reaching an all time high of 6.30 Percent in the third quarter of 2003 and a record low of -3.40 Percent in the first quarter of 2009. GDP Growth Rate in Hong Kong is reported by the Census and Statistics Department, Hong Kong.


Hong Kong GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.90 6.30 -3.40 1990 - 2014 Percent Quarterly
Hong Kong has an export oriented economy and in spite of small size is the 9th largest trading entity in the world. Since 2000, the economy grew at an average of 0.99 percent quarter-on-quarter, boosted by international trade. Indeed, as Hong Kong became a platform between Chinese companies and importers from all around the world, the value of goods and services exchanged reached four times the GDP. Yet, the high reliance on exports and tight housing supply conditions are the main treats to future growth. This page provides - Hong Kong GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Hong Kong GDP Expands 0.2% QoQ in Q1

In the first three months of 2014, Hong Kong’s economy advanced a meager 0.2 percent quarter-on-quarter. It is the slowest expansion in two years, mainly due to a fall in exports and a slowdown in private consumption.

Private consumption rose a seasonally adjusted 1.1 percent in the first three months of 2014, decelerating from a 1.8 percent increase in the last quarter of 2013.

In contrast, government spending accelerated slightly to 0.4 percent (0.3 percent in the December quarter).

Exports of goods fell by 3.4 percent in the first quarter from the preceding quarter, while exports of services rose slightly by 0.2 percent. Imports of goods contracted 0.6 percent while imports of services fell 4.4 percent.

Year-on-year, the GDP advanced at a slower 2.5 percent, as merchandise exports were sluggish, reflecting the slow improvements in the advanced markets.

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
5/16/2014 1:17:18 PM

Recent Releases

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 Published on 2014-02-26

Hong Kong Economy Advances 0.5% QoQ in Q3
In the third quarter of 2013, Hong Kong quarter-on-quarter GDP growth slowed to a seasonally adjusted 0.5 percent, from 0.7 percent in the second quarter, hurt by a drop in private consumption and exports of services. Published on 2013-11-15

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2013-08-16 09:30 AM Hong Kong
GDP Growth Rate QoQ
Q2 2013 0.8% 0.2% 0.5% -2.92%
2013-11-15 08:30 AM Hong Kong
GDP Growth Rate QoQ
Q3 2013 0.5% 0.7% (R) 0.8% 2.58%
2014-02-26 03:00 AM Hong Kong
GDP Growth Rate QoQ
Q4 2013 1.1% 0.7% (R) 0.9% 0.72%
2014-05-16 09:30 AM Hong Kong
GDP Growth Rate QoQ
Q1 2014 0.2% 0.9% (R) 0.5% 0.25%
2014-08-15 09:30 AM Hong Kong
GDP Growth Rate QoQ
Q2 2014 0.2% 0.9%

GDP Last Previous Highest Lowest Unit
GDP 274.01 262.63 274.01 1.32 USD Billion [+]
GDP Growth Rate 0.20 0.90 6.30 -3.40 Percent [+]
GDP Annual Growth Rate 2.50 2.90 20.70 -8.10 Percent [+]
GDP Constant Prices 517849.00 561064.00 561064.00 59854.00 HKD Million [+]
Gross National Product 518514.00 576845.00 576845.00 303627.00 HKD Million [+]
GDP per capita 33534.28 32728.79 33534.28 3079.77 USD [+]
Gross Fixed Capital Formation 118586.00 145686.00 145686.00 14174.00 HKD Million [+]
GDP per capita PPP 44770.11 44625.54 44770.11 14117.76 USD [+]

Overview    |     Worldbank    |     Calendar    |     Countries    |     Indicators    |     News