Hong Kong GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Hong Kong expanded 3 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Hong Kong is reported by the Census and Statistics Department, Hong Kong. GDP Annual Growth Rate in Hong Kong averaged 5.51 Percent from 1974 until 2013, 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. 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. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.00 2.80 20.70 -8.10 3.75 | 2014/03 1974 - 2013 Percent Quarterly

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Hong Kong GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-10 09:30 AM Hong Kong
GDP Growth Rate YoY
Q1 2013 2.80% 2.80% (R) 3%
2013-08-16 09:30 AM Hong Kong
GDP Growth Rate YoY
Q2 2013 3.3% 2.9% (R) 2.91%
2013-11-15 08:30 AM Hong Kong
GDP Growth Rate YoY
Q3 2013 2.9% 3.2% (R) 3.6%
2014-02-26 03:00 AM Hong Kong
GDP Growth Rate YoY
Q4 2013 3.0% 2.8% (R) 3.1% 3.5%
2014-05-01 09:30 AM Hong Kong
GDP Growth Rate YoY
Q1 2014 3.0% 3.75%
2014-08-01 09:30 AM Hong Kong
GDP Growth Rate YoY
Q2 2014 2.87%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 1.10 2013-12-31 0.70 6.30 -3.50 0.25 2014-03-31 Percent [+]
GDP Annual Growth Rate 3.00 2013-12-31 2.80 20.70 -8.10 3.75 2014-03-31 Percent [+]
GDP per capita 32741.76 2012-12-31 32636.03 32741.76 3079.77 33213.53 2013-12-31 USD [+]
GDP per capita PPP 44770.11 2012-12-31 44625.54 44770.11 14117.76 45433.34 2013-12-31 USD [+]
GDP Constant Prices 541592.00 2013-11-15 512378.00 541592.00 59854.00 524161.56 2014-03-31 HKD Million [+]
Gross Fixed Capital Formation 136974.00 2013-11-15 128020.00 136974.00 14174.00 133924.40 2014-03-31 HKD Million [+]
Gross National Product 556889.00 2013-11-15 526374.00 556889.00 303627.00 549648.72 2014-03-31 HKD Million [+]
GDP 263.26 2012-12-31 248.73 263.26 1.32 279.42 2013-12-31 USD Billion [+]
[+]


Hong Kong GDP Growth Accelerates in Q4

In the fourth quarter of 2013, Hong Kong's economy expanded at a faster 3 percent over a year earlier, up from a downward revised 2.8 percent in the previous three-month period. In 2014, the economy is expected to grow between 3 to 4 percent, better than a 2.9 percent expansion in 2013.

Both private and government consumption rose 3.2 percent over a year earlier, after increasing by 2.4 percent and 2.3 percent respectively in the previous quarter. 

Gross domestic fixed capital formation advanced 5.3 percent in real terms in the fourth quarter of 2013 over a year earlier, after the 2.8 percent growth in the third quarter. 

Expenditure on machinery, equipment and intellectual property products increased significantly by 17.2 percent. On the other hand, expenditure on building and construction decreased by 4.1 percent as private sector investment fell 3.4 percent and that of the public sector decreased by 5.3 percent.

Exports of goods increased by 5.8 percent, slowing from a 6.2 percent rise in the previous quarter. Likewise, imports of goods increased by 6.5 percent in the fourth quarter of 2013, compared with the 6.8 percent increase in the third quarter. 

Quarter-on-quarter, the economy expanded a seasonally adjusted 1.1 percent. 

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
2/26/2014 10:44:51 AM

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Hong Kong Q3 GDP Growth Slows to 2.9% YoY
In the third quarter of 2013, Hong Kong’s economy advanced 2.9 percent over a year earlier, from 3.2 percent in the previous quarter, weighed down by a slowdown in private consumption and investment. Published on 2013-11-15

Hong Kong GDP Growth Accelerates to 3.3% YoY in Q2
In the second quarter of 2013, Hong Kong GDP expanded 3.3 percent over a year earlier, the fastest pace in seven quarters. Improvements in public investment and consumption were enough to offset a slowdown on exports and private consumption. Published on 2013-08-16


GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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