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

The Hong Kong economy advanced 1.9 percent year-on-year in the third quarter of 2016, higher than a 1.7 percent expansion in the previous period and above market expectations of 1.6 percent, boosted by private spending and investment. GDP Annual Growth Rate in Hong Kong averaged 5.30 percent from 1974 until 2016, 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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Calendar GMT Reference Actual Previous Consensus Forecast (i)
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 1.9% 1.7% 1.6% 1.9%
2017-02-24 03:00 AM Q4
2017-05-13 08:30 AM Q1
2017-08-12 08:30 AM Q2




Hong Kong GDP Growth Beats Expectations in Q3


The Hong Kong economy advanced 1.9 percent year-on-year in the third quarter of 2016, higher than a 1.7 percent expansion in the previous period and above market expectations of 1.6 percent, boosted by private spending and investment.

Private consumption increased 1.2 percent (0.5 percent in Q2) while government spending grew at a slightly slower 3.3 percent (3.5 percent in Q2). Gross fixed capital formation also expanded at a faster 6 percent (5 percent in Q2) as expenditure on machinery, equipment and intellectual property products rebounded and increased 6.1 percent (-11.2 percent in Q2) and expenditure on building and construction rose 3.4 percent (3.54 percent in Q2), boosted by private investment (+5.2 percent) while public one edged down 0.2 percent. 

Exports growth slowed (1.8 percent compared to 4.6 percent in Q2) and imports expanded at a slightly faster pace (1.7 percent compared to 1.6 percent in Q2). 

On a quarterly basis, the economy advanced 0.6 percent, slowing from a downwardly revised 1.5 percent expansion in the previous period but better than market expectations of 0.3 percent. 

The government revised its 2016 growth forecasts to 1.5 percent from 1-2 percent.

Census and Statistics Department l Joana Taborda | joana.taborda@tradingeconomics.com
11/11/2016 9:37:23 AM



Hong Kong GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 1.50 6.30 -3.40 percent [+]
GDP Annual Growth Rate 1.90 1.70 20.70 -8.10 percent [+]
GDP 309.93 291.23 309.93 1.32 USD Billion [+]
GDP Constant Prices 599702.00 559571.00 613884.00 64887.00 HKD Million [+]
Gross National Product 602539.00 583639.00 632218.00 330747.00 HKD Million [+]
Gross Fixed Capital Formation 130848.00 127209.00 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 400.00 308.00 602.00 308.00 HKD Million [+]
GDP From Construction 25315.00 24274.00 26006.00 13065.00 HKD Million [+]
GDP From Manufacturing 6836.00 6382.00 11028.00 6211.00 HKD Million [+]
GDP From Public Administration 102175.00 95283.00 102175.00 69348.00 HKD Million [+]
GDP From Services 503254.00 507326.00 560996.00 268771.00 HKD Million [+]
GDP From Transport 31831.00 34704.00 35028.00 17352.00 HKD Million [+]
GDP From Utilities 9406.00 8089.00 10860.00 6236.00 HKD Million [+]



Hong Kong GDP Annual Growth Rate Notes

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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
1.90 1.70 20.70 -8.10 1974 - 2016 percent Quarterly



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