Hong Kong GDP Annual Growth Rate 1974-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Hong Kong expanded 2.70 percent in the third quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Hong Kong averaged 5.44 Percent from 1974 until 2014, 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


Actual Previous Highest Lowest Dates Unit Frequency
2.70 1.80 20.70 -8.10 1974 - 2014 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 Monday, December 22, 2014.


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.

Private consumption expenditure grew 3.2 percent, compared with a 1.2 percent growth in the second quarter. Government consumption increased by 3.5 percent, compared with a 2.7 percent expansion reported in the previous period.

Gross domestic fixed capital formation decreased by 4.7 percent after a 5.7 percent contraction in the second quarter. Expenditure on machinery, equipment and intellectual property products dropped by 11.9 percent compared with a 9.8 percent decrease in the second quarter. In contrast, expenditure on building and construction increased by 1.1 percent, compared with the increase of 0.5 percent in the second quarter.

Total exports of goods increased by 1.3 percent, compared with a growth of 2.4 percent in the second quarter. Imports rose by 0.7 percent compared with the 1.1 percent growth in the second quarter.

On a seasonally adjusted quarter-to-quarter basis, the GDP increased by 1.7 percent.

Censtatd | Ricardo Martins | ricardo.martins@tradingeconomics.com
11/14/2014 11:52:05 AM


Recent Releases

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


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-05-16 09:30 AM
GDP Growth Rate YoY  Q1
2.5% 2.9% (R) 2.75%
2014-08-15 09:30 AM
GDP Growth Rate YoY  Q2
1.8% 2.6% (R) 1.9% 2.87%
2014-11-14 08:30 AM
GDP Growth Rate YoY  Q3
2.7% 1.8% 2.0% 1.5%
2015-02-26 03:00 AM
GDP Growth Rate YoY  Q4
1.3%
2015-05-16 09:30 AM
GDP Growth Rate YoY  Q1
2.16%
2015-08-15 09:30 AM
GDP Growth Rate YoY  Q2
1.61%


Hong Kong GDP Last Previous Highest Lowest Unit
GDP 274.01 262.63 274.01 1.32 USD Billion [+]
GDP Growth Rate 1.70 -0.10 6.30 -3.40 percent [+]
GDP Annual Growth Rate 2.70 1.80 20.70 -8.10 percent [+]
GDP Constant Prices 546639.00 507492.00 561064.00 59854.00 HKD Million [+]
Gross National Product 526532.00 519282.00 576845.00 303627.00 HKD Million [+]
GDP per capita 33534.28 32728.79 33534.28 3079.77 USD [+]
Gross Fixed Capital Formation 129664.00 129726.00 145686.00 14174.00 HKD Million [+]
GDP per capita PPP 51508.86 50271.63 51508.86 26981.75 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.70 Aug/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Aug/14 -0.90 10.10 -3.15 percent [+]
Canada 2.59 Aug/14 2.54 8.80 -3.70 percent [+]
China 7.30 Aug/14 7.50 14.20 3.80 percent [+]
Euro Area 0.80 Aug/14 0.80 5.00 -5.50 percent [+]
France 0.40 Aug/14 0.00 4.90 -4.30 percent [+]
Germany 1.20 Aug/14 1.00 5.20 -6.80 percent [+]
India 5.30 Aug/14 5.70 11.40 -5.20 percent [+]
Indonesia 5.01 Aug/14 5.12 7.16 1.56 percent [+]
Italy -0.50 Aug/14 -0.30 10.30 -6.90 percent [+]
Japan -1.20 Aug/14 -0.20 9.40 -9.40 percent [+]
Mexico 2.20 Aug/14 1.60 8.50 -8.10 percent [+]
Netherlands 1.10 Aug/14 1.10 5.80 -4.40 percent [+]
Russia 0.70 Aug/14 0.80 12.10 -11.20 percent [+]
South Korea 3.20 Aug/14 3.50 18.20 -7.30 percent [+]
Spain 1.60 Aug/14 1.30 5.80 -4.40 percent [+]
Switzerland 1.90 Aug/14 1.60 7.30 -3.70 percent [+]
Turkey 1.70 Aug/14 2.20 12.60 -14.70 percent [+]
United Kingdom 3.00 Aug/14 3.20 9.80 -5.80 percent [+]
United States 2.40 Aug/14 2.60 13.40 -4.10 percent [+]