Hong Kong Government Budget

Hong Kong recorded a Government Budget surplus equal to 3.20 percent of the country's Gross Domestic Product in 2012. Government Budget in Hong Kong averaged 1.19 Percent of GDP from 1999 until 2012, reaching an all time high of 8.60 Percent of GDP in 2007 and a record low of -6.26 Percent of GDP in 2002. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Hong Kong Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.20 3.80 8.60 -6.26 3.17 | 2013/12 1999 - 2012 Percent of GDP Yearly

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Hong Kong Government Budget
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Government Last Previous Highest Lowest Forecast Unit
Government Budget 3.20 2012-12-31 3.80 8.60 -6.26 3.17 2013-12-31 Percent of GDP [+]
Government Debt To GDP 33.10 2012-12-31 33.80 34.60 13.70 32.36 2013-12-31 Percent [+]
Government Budget Value 75862.00 2013-11-15 -53683.00 98775.00 -53683.00 24731.67 2014-03-31 HKD Million [+]
Government Spending 45234.00 2013-11-15 44441.00 46848.00 5720.00 45843.12 2014-03-31 HKD Million [+]
Credit Rating 95.39 [+]
[+]


Government Budget | Notes
A government budget is a legal document that forecasts the government expenditures and revenues for a specific period of time. The period covered by a budget is usually a year, known as a financial or fiscal year, which may or may not correspond with the calendar year. A government budget is often passed by the legislature, and approved by the chief executive or president.


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In January of 2014, Hong Kong’s trade deficit decreased 63 percent over a month earlier to HKD 19.8 billion, due to a fall in imports. A year earlier the trade deficit reached HKD 27.5 billion, as the Chinese New Year fell in late January and early February in 2014 but in mid-February in 2013.
Hong Kong Inflation Rate Accelerates in January  
In January of 2014, Hong Kong’s annual inflation rate rose 4.6 percent, the highest rate in the last four months, due mainly to the difference in timing of the Lunar New Year, which fell in late January and early February this year, but in mid-February last year.
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The seasonally adjusted unemployment rate decreased from 3.2 percent in October - December 2013 to 3.1 percent in November 2013 - January 2014. It is the lowest jobless rate in almost 16 years, as total employment hit a fresh new high due to the Lunar New Year, while the number of unemployed persons declined for the fifth consecutive month.
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In December of 2013, Hong Kong trade deficit increased to HKD 54.4 billion, as exports were unchanged from a year earlier and imports rose 1.8 percent. For 2013 as a whole, a visible trade deficit of HKD 501.0 billion, equivalent to 12.3 percent of the value of imports of goods was recorded.
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In December of 2013, Hong Kong annual inflation rate remained unchanged at 4.3 percent for the second straight month. Netting out the effects of all Government's one-off relief measures, the underlying inflation rate was 3.9 percent, slightly lower than 4 percent in November, mainly due to small price increases of fresh vegetables.
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