Hong Kong GDP Annual Growth Rate  1974-2016 | Data | Chart | Calendar

The Hong Kong GDP advanced 1.7 percent year-on-year in the second quarter of 2016, compared to 0.8 percent expansion in the previous period. This was largely underpinned by a pick-up in goods exports while private consumption expenditure growth slowed down. On a seasonally adjusted quarter-to-quarter comparison, the economy rebounded distinctly by 1.6 percent, after the 0.5 percent decline in the preceding quarter. GDP Annual Growth Rate in Hong Kong averaged 5.36 percent from 1974 until 2015, 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. GDP Annual Growth Rate in Hong Kong is reported by the Census and Statistics Department, Hong Kong.

Hong Kong GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
1.70 0.80 20.70 -8.10 1974 - 2016 percent Quarterly
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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-24 03:00 AM Q4 1.9% 2.2% 2.0% 2.5%
2016-05-13 08:30 AM Q1 0.8% 1.9% 1.5%
2016-08-12 08:30 AM Q2 1.7% 0.8% -0.1%
2016-11-11 08:30 AM Q3 1.7% 0.2%

Hong Kong Economy Expands 1.7% YoY in Q2


The Hong Kong GDP advanced 1.7 percent year-on-year in the second quarter of 2016, compared to 0.8 percent expansion in the previous period. This was largely underpinned by a pick-up in goods exports while private consumption expenditure growth slowed down. On a seasonally adjusted quarter-to-quarter comparison, the economy rebounded distinctly by 1.6 percent, after the 0.5 percent decline in the preceding quarter.

In the second quarter, private expenditure slowed to 0.6 percent, as compared to a 1.2 percent rise in the previous quarter. Government spending went up by 3.4 percent, following 3.3 percent growth in the first quarter. In contrast, gross fixed capital formation contracted 4.9 percent, after 9.6 percent drop in the previous period. Exports of goods were up 2.0 percent, following a 3.6 percent fall in the previous period. Exports of services contracted at a slower 4.6 percent, compared to 5.0 percent drop in the first quarter, as the latest visitor arrivals trend suggested that the drag from the slowdown of inbound tourism has been reducing. Imports of goods increased by 0.2 percent, as against the decrease of 5.4 percent in the first quarter. Imports of services advanced 1.1 percent, compared with the 4.9 percent increase in the first quarter.

On a quarterly basis, the economy rebounded distinctly by 1.6 percent in the second quarter, reversing the 0.5 percent decline in the preceding quarter. Private consumption expenditure went up by 0.9 percent (-0.2 percent in Q1) and government consumption expenditure rose 0.8 percent (+1.0 percent in Q1). Exports of goods bounced back strongly by 3.3 percent (-3.9 percent in Q1) while exports of services extended the decline in the second quarter (-0.2 percent from -1.9 percent in Q1). Imports of goods increased 3.5 percent (-2.0 percent in Q1) while imports of services contracted 2.0 percent (+1.4 percent in Q1).  

Looking ahead, the global economy will likely continue to expand at a modest pace in the rest of the year, with the US economy regaining some steam and many Asian economies showing signs of improvement. This should hopefully provide some support to Hong Kong’s goods exports in the coming quarters. While the UK vote to leave the EU has added uncertainty, the pledges by major central banks to safeguard global financial stability and the quick stabilisation of global financial markets after the vote have mitigated the more acute risks. That said, the event of Brexit is still unfolding, and the possibility of further repercussions on the global economic and financial environment could not be ruled out. Taking into account the actual growth outturn in the first quarter and the various external uncertainties still faced by the Hong Kong economy, the forecast real GDP growth of 1-2 percent for 2016. 

Census and Statistics Department l Yekaterina Guchshina | yekaterina@tradingeconomics.com
8/12/2016 10:17:51 AM

Hong Kong GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.60 -0.50 6.30 -3.40 percent [+]
GDP Annual Growth Rate 1.70 0.80 20.70 -8.10 percent [+]
GDP 309.93 291.23 309.93 1.32 USD Billion [+]
GDP Constant Prices 559887.00 564375.00 613884.00 64887.00 HKD Million [+]
Gross National Product 583639.00 632218.00 632218.00 330747.00 HKD Million [+]
Gross Fixed Capital Formation 127413.00 114026.00 151014.00 15107.00 HKD Million [+]
GDP per capita 36117.10 35596.00 36117.10 4902.70 USD [+]
GDP per capita PPP 53379.74 52609.61 53379.74 26974.39 USD [+]
GDP From Agriculture 308.00 354.00 602.00 308.00 HKD Million [+]
GDP From Construction 24274.00 25408.00 26006.00 13065.00 HKD Million [+]
GDP From Manufacturing 6382.00 7013.00 11028.00 6211.00 HKD Million [+]
GDP From Public Administration 95283.00 98677.00 99209.00 69348.00 HKD Million [+]
GDP From Services 507326.00 560996.00 560996.00 268771.00 HKD Million [+]
GDP From Transport 34704.00 35028.00 35028.00 17352.00 HKD Million [+]
GDP From Utilities 8089.00 8219.00 10860.00 6236.00 HKD Million [+]




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Ethiopia 9.60 Dec/15
Ivory Coast 9.40 Mar/16
Papua New Guinea 9.00 Dec/15
Palestine 8.00 Mar/16
India 7.90 Mar/16
Uzbekistan 7.80 Jun/16
Congo 7.70 Dec/15
Rwanda 7.30 Mar/16
Monaco 7.20 Dec/14
Bangladesh 7.05 Dec/16
Laos 7.00 Dec/15
Myanmar 7.00 Dec/15
Philippines 7.00 Jun/16
Cambodia 6.90 Dec/15
China 6.70 Jun/16
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Tajikistan 6.50 Mar/16
Turkmenistan 6.50 Dec/15
Senegal 6.40 Mar/16
Dominican Republic 6.10 Mar/16
Burkina Faso 6.00 Mar/16
Romania 6.00 Jun/16
Kenya 5.90 Mar/16
Cape Verde 5.80 Mar/16
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Benin 5.70 Mar/16
Chad 5.60 Dec/15
Vietnam 5.55 Jun/16
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Mali 5.40 Mar/16
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Malta 5.20 Mar/16
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Bolivia 4.95 Mar/16
Angola 4.90 Dec/15
Central African Republic 4.90 Dec/15
Ghana 4.90 Mar/16
Guinea Bissau 4.90 Mar/16
Niger 4.90 Dec/15
Sudan 4.90 Dec/15
Costa Rica 4.80 Mar/16
Turkey 4.80 Mar/16
Gambia 4.70 Dec/15
Panama 4.60 Mar/16
Bahrain 4.50 Mar/16
Armenia 4.40 Mar/16
Luxembourg 4.40 Mar/16
Cuba 4.30 Dec/15
East Timor 4.30 Dec/15
Seychelles 4.30 Dec/15
Pakistan 4.24 Dec/15
Fiji 4.20 Dec/15
Gabon 4.20 Dec/15
Iceland 4.20 Mar/16
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Malaysia 4.00 Jun/16
Algeria 3.90 Dec/15
United Arab Emirates 3.90 Dec/15
Egypt 3.80 Dec/15
Kosovo 3.80 Mar/16
Mauritius 3.70 Mar/16
Mozambique 3.70 Jun/16
Peru 3.70 Jun/16
Slovakia 3.70 Jun/16
Brunei 3.60 Mar/16
Honduras 3.60 Dec/15
Namibia 3.50 Mar/16
Thailand 3.50 Jun/16
Lesotho 3.40 Dec/15
Comoros 3.20 Dec/15
South Korea 3.20 Jun/16
Spain 3.20 Jun/16
Australia 3.10 Mar/16
Germany 3.10 Jun/16
Mauritania 3.10 Dec/15
Poland 3.10 Jun/16
Sweden 3.10 Jun/16
Albania 3.00 Mar/16
Bulgaria 3.00 Jun/16
Guyana 3.00 Dec/15
Madagascar 3.00 Dec/15
Israel 2.90 Jun/16
Malawi 2.90 Dec/15
Maldives 2.90 Dec/15
Botswana 2.80 Mar/16
Guatemala 2.80 Mar/16
New Zealand 2.80 Mar/16
Croatia 2.70 Mar/16
Cyprus 2.70 Jun/16
Cameroon 2.60 Dec/15
El Salvador 2.60 Dec/15
Georgia 2.60 Mar/16
Hungary 2.60 Jun/16
Somalia 2.60 Dec/14
Colombia 2.50 Mar/16
Czech Republic 2.50 Jun/16
Mexico 2.50 Jun/16
Slovenia 2.50 Mar/16
Iraq 2.40 Dec/15
Ireland 2.30 Mar/16
Jordan 2.30 Mar/16
Netherlands 2.30 Jun/16
United Kingdom 2.20 Jun/16
Afghanistan 2.10 Dec/15
Bosnia and Herzegovina 2.10 Mar/16
Latvia 2.10 Jun/16
Singapore 2.10 Jun/16
Cayman Islands 2.00 Dec/15
Macedonia 2.00 Mar/16
European Union 1.80 Jun/16
Kuwait 1.80 Dec/15
Lithuania 1.80 Jun/16
Serbia 1.80 Jun/16
Haiti 1.70 Dec/15
Hong Kong 1.70 Jun/16
Swaziland 1.70 Dec/15
Euro Area 1.60 Jun/16
Chile 1.50 Jun/16
Paraguay 1.50 Mar/16
Saudi Arabia 1.50 Mar/16
Suriname 1.50 Dec/15
Zimbabwe 1.50 Dec/15
Belgium 1.40 Jun/16
France 1.40 Jun/16
Mongolia 1.40 Jun/16
Morocco 1.40 Jun/16
Tunisia 1.40 Jun/16
Finland 1.30 Jun/16
New Caledonia 1.30 Dec/14
Ukraine 1.30 Jun/16
Austria 1.20 Jun/16
Bahamas 1.20 Dec/15
Republic of the Congo 1.20 Dec/15
United States 1.20 Jun/16
Canada 1.10 Mar/16
Montenegro 1.10 Mar/16
Qatar 1.10 Mar/16
Lebanon 1.00 Dec/15
Barbados 0.90 Dec/15
Jamaica 0.80 Mar/16
Moldova 0.80 Mar/16
Portugal 0.80 Jun/16
Nepal 0.77 Dec/15
Italy 0.70 Jun/16
Norway 0.70 Mar/16
Switzerland 0.70 Mar/16
Taiwan 0.70 Jun/16
Estonia 0.60 Jun/16
Iran 0.60 Mar/15
Argentina 0.49 Mar/16
Denmark 0.30 Mar/16
Eritrea 0.30 Dec/15
Liberia 0.30 Dec/15
Guinea 0.10 Dec/15
Japan 0.10 Mar/16
Kazakhstan 0.10 Jun/16
Greece -0.10 Jun/16
South Africa -0.20 Mar/16
Nigeria -0.40 Mar/16
Uruguay -0.50 Mar/16
Puerto Rico -0.60 Dec/15
Russia -0.60 Jun/16
Liechtenstein -0.80 Dec/14
North Korea -1.10 Dec/15
Uganda -1.30 Mar/16
Belize -1.96 Mar/16
Kyrgyzstan -2.30 Jun/16
Syria -2.30 Dec/11
Trinidad and Tobago -2.30 Dec/15
Ecuador -3.00 Mar/16
Azerbaijan -3.50 Mar/16
Belarus -3.60 Mar/16
Burundi -4.10 Dec/15
South Sudan -5.30 Dec/15
Brazil -5.40 Mar/16
Libya -6.00 Dec/15
Venezuela -7.10 Sep/15
Equatorial Guinea -10.60 Dec/15
Macau -13.30 Mar/16
Oman -14.10 Dec/15
Sierra Leone -21.50 Dec/15
Yemen -28.10 Dec/15