Hong Kong GDP Annual Growth Rate  1974-2017 | Data | Chart | Calendar

The Hong Kong economy grew 3.1 percent year-on-year in the fourth quarter of 2016, compared to an upwardly revised 2.0 percent expansion in the September quarter. It was the strongest growth since the June quarter 2015, supported by a faster rise in private consumption and exports of goods while government spending and investment expanded further. For full 2016, the economy expanded by 1.9 percent, slower than a 2.4 percent growth in 2015. On a seasonally adjusted quarter-to-quarter comparison, the GDP advanced 1.2 percent, faster than an upwardly revised 0.8 percent growth in the prior quarter. GDP Annual Growth Rate in Hong Kong averaged 5.29 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)
2016-08-12 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%
2017-02-22 03:50 AM Q4 3.1% 2.0% 2.2%
2017-05-12 08:30 AM Q1 3.1% 3.4%
2017-08-11 08:30 AM Q2 2.7%
2017-11-10 08:30 AM Q3 2.5%




Hong Kong GDP Growth Strongest In 1-1/2-Year In Q4


The Hong Kong economy grew 3.1 percent year-on-year in the fourth quarter of 2016, compared to an upwardly revised 2.0 percent expansion in the September quarter. It was the strongest growth since the June quarter 2015, mainly supported by a faster rise in private consumption and exports of goods while government spending and investment expanded further.

Private consumption increased 3.2 percent, up from a 1.2 percent rise in the September quarter. Government spending rose 3.3 percent (the same as in the prior quarter). Gross fixed capital formation expanded 5.2 percent (from 6.7 percent, as expenditure on machinery, equipment and intellectual property products decreased by 4.2 percent while expenditure on building and construction rose 6.9 percent). Exports of goods increased by 5 .1 percent (from 2.4 percent) and exports of services went up 1.4 percent (from -2.4 percent). Imports of goods expanded 5.5 percent (from 3.1 percent) while import of services rose 1.8 percent (from 0.7 percent).
 
On a quarterly basis, the economy advanced 1.2 percent, faster than an upwardly revised 0.8 percent expansion in the previous quarter. Private consumption rose at a faster 1.5 percent (from 0.9 percent in the third quarter), followed by government spending (1.0 percent from 0.5 percent). Exports of goods increased by 3.9 percent (from 0.7 percent) while exports of services went up 1.2 percent (from 1.6 percent). Imports of goods rose 1.6 percent, rebounding from a 0.3 percent drop. Imports of services grew by 0.5 percent, faster than a 0.1 percent rise in the prior quarter.  
 
For full 2016, the economy expanded by 1.9 percent, slower than a 2.4 percent growth in 2015. 

Statistic of Hong Kong l Chusnul Ch Manan| chusnul@tradingeconomics.com
2/22/2017 5:58:39 AM



Hong Kong GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.20 0.80 6.10 -3.40 percent [+]
GDP Annual Growth Rate 3.10 2.00 20.70 -8.10 percent [+]
GDP 309.23 291.23 309.23 1.32 USD Billion [+]
GDP Constant Prices 633461.00 600298.00 633461.00 64887.00 HKD Million [+]
Gross National Product 665263.00 629332.00 665263.00 330747.00 HKD Million [+]
Gross Fixed Capital Formation 141435.00 130127.00 150992.00 15107.00 HKD Million [+]
GDP per capita 36173.30 35624.90 36173.30 4902.70 USD [+]
GDP per capita PPP 53463.00 52652.30 53463.00 26974.39 USD [+]
GDP From Agriculture 330.00 338.00 602.00 301.00 HKD Million [+]
GDP From Construction 28203.00 24776.00 28203.00 13065.00 HKD Million [+]
GDP From Manufacturing 6956.00 7169.00 11028.00 6211.00 HKD Million [+]
GDP From Public Administration 100838.00 101585.00 102175.00 69348.00 HKD Million [+]
GDP From Services 576119.00 542268.00 576119.00 268771.00 HKD Million [+]
GDP From Transport 36979.00 39295.00 39295.00 17352.00 HKD Million [+]
GDP From Utilities 7807.00 9966.00 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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.10 2.00 20.70 -8.10 1974 - 2016 percent Quarterly



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