Hong Kong GDP Annual Growth Rate 1974-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Hong Kong expanded 2.10 percent in the first quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in Hong Kong averaged 5.41 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.

      Forecast
Hong Kong GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
2.10 2.40 20.70 -8.10 1974 - 2015 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. Content for - Hong Kong GDP Annual Growth Rate - was last refreshed on Wednesday, July 29, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2014-11-14 08:30 AM Q3 2.7% 1.8% 2.0% 1.5%
2015-02-25 03:00 AM Q4 2.2% 2.7% 2.3%
2015-05-15 09:30 AM Q1 2.1% 2.4% (R) 2.0% 2.16%
2015-08-14 09:30 AM Q2 2.1% 2.04%
2015-11-13 08:30 AM Q3 1.99%


Hong Kong Economy Slows in Q1


Hong Kong GDP advanced 2.1 percent year-on-year in the first quarter of 2015, compared to a revised 2.4 percent expansion in the previous quarter. Although external demand remains subdued, domestic demand continues to be the main driver of growth.

Year-on-year, total exports of goods grew marginally by 0.4 percent, down from a 0.6 percent increase in the previous quarter. At the same time, imports of goods increased modestly by 0.1 percent, compared with the 1.1 percent growth in the fourth quarter of 2014. Exports of services fell 0.6 percent, down from a 0.3 percent decrease in the previous quarter, while imports of services increased by 4.3 percent, compared with the 1.1 percent increase in the fourth quarter of 2014.

Private consumption expenditure grew 3.5 percent, from 4.1 percent in the precedent quarter, supported by stable labour market conditions as the unemployment rate remained low while wages and earnings kept growing. Meanwhile, government consumption expenditure increased by 3.5 percent, compared with the growth of 3.3 percent in the fourth quarter of 2014.

Gross domestic fixed capital formation surged by 7.3 percent after a 3.4 percent growth in the previous quarter. Expenditure on machinery, equipment and intellectual property products increased by 14.2 percent, while expenditure on building and construction decreased by 3.3 percent, against the increase of 7.6 percent in the precedent quarter.

On a seasonally adjusted quarter-to-quarter basis, the GDP increased by 0.4 percent.

For 2015, the Hong Kong GDP is expected to grow between 1.0 to 3.0 percent. For reference, the latest forecasts by private sector analysts mostly range from 1.6 to 3 percent.

Censtatd l Joana Ferreira l joana.ferreira@tradingeconomics.com
5/15/2015 10:31:09 AM


Recent Releases

Hong Kong Economy Slows in Q4
Hong Kong GDP advanced 2.2 percent year-on-year in the fourth quarter of 2014, compared to a 2.7 percent expansion from July to September as a rebound in investment was unable to offset a slowdown in private and government consumption and lower exports.
Published on 2015-02-25

Hong Kong Economy Accelerates in Q3
Hong Kong GDP advanced 2.7 percent year-on-year in the third quarter of 2014, compared to a 1.8 percent expansion from April to June. A rise in private and public consumption was enough to offset falling investment and lower exports.
Published on 2014-11-14

Hong Kong Economy Slows in Q2
Hong Kong GDP expanded 1.8 percent year-on-year in the second quarter of 2014, from 2.6 percent in the first three months of 2014, marking the slowest growth since the third quarter of 2012.
Published on 2014-08-15

Hong Kong Economy Decelerates in Q1
Hong Kong GDP advanced 2.5 percent year-on-year in the first three months of 2014, slower than a revised 2.9 percent expansion in the preceding quarter, as exports to major advanced markets slackened sharply at the start of the year.
Published on 2014-05-16


Hong Kong GDP Last Previous Highest Lowest Unit
GDP 290.90 275.74 290.90 1.32 USD Billion [+]
GDP Growth Rate 0.40 0.20 6.30 -3.40 percent [+]
GDP Annual Growth Rate 2.10 2.40 20.70 -8.10 percent [+]
GDP Constant Prices 541265.00 584672.00 584672.00 59854.00 HKD Million [+]
Gross National Product 549169.00 606184.00 606184.00 303627.00 HKD Million [+]
GDP per capita 34222.29 33638.97 34222.29 3079.77 USD [+]
Gross Fixed Capital Formation 123178.00 146056.00 146056.00 14174.00 HKD Million [+]
GDP per capita PPP 52551.60 51655.84 52551.60 26974.38 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.30 Mar/15 2.50 9.00 -3.40 percent [+]
Brazil -1.60 Mar/15 -0.20 10.10 -3.15 percent [+]
Canada 2.06 Mar/15 2.63 8.80 -3.70 percent [+]
China 7.00 Jun/15 7.00 14.20 3.80 percent [+]
Euro Area 1.00 Mar/15 0.90 5.00 -5.60 percent [+]
France 0.82 Mar/15 0.03 12.50 -3.95 percent [+]
Germany 1.10 Mar/15 1.60 5.20 -6.80 percent [+]
India 7.50 Mar/15 6.60 11.40 -5.20 percent [+]
Indonesia 4.71 Mar/15 5.01 7.16 1.56 percent [+]
Italy 0.10 Mar/15 -0.50 10.30 -6.90 percent [+]
Japan -0.90 Mar/15 -1.00 9.40 -9.40 percent [+]
Mexico 2.50 Mar/15 2.60 8.50 -8.10 percent [+]
Netherlands 2.50 Mar/15 1.60 5.80 -4.40 percent [+]
Russia -2.20 Mar/15 0.40 12.10 -11.20 percent [+]
South Korea 2.20 Jun/15 2.50 18.20 -7.30 percent [+]
Spain 2.70 Mar/15 2.00 5.80 -4.40 percent [+]
Switzerland 1.10 Mar/15 1.90 7.30 -3.70 percent [+]
Turkey 2.30 Mar/15 2.60 12.60 -14.70 percent [+]
United Kingdom 2.60 Jun/15 2.90 9.80 -5.80 percent [+]
United States 2.90 Mar/15 2.40 13.40 -4.10 percent [+]