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

The Hong Kong economy advanced 3.6 percent year-on-year in the third quarter of 2017, following an upwardly revised 3.9 percent expansion in the previous period and missing market expectations of 4 percent. Growth was driven by private consumption and government spending while fixed investment contracted for the first time in over a year and net external demand contributed negatively. GDP Annual Growth Rate in Hong Kong averaged 5.27 percent from 1974 until 2017, 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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Hong Kong Economy Grows 3.6% in Q3


The Hong Kong economy advanced 3.6 percent year-on-year in the third quarter of 2017, following an upwardly revised 3.9 percent expansion in the previous period and missing market expectations of 4 percent. Growth was driven by private consumption and government spending while fixed investment contracted for the first time in over a year and net external demand contributed negatively.

The positive contribution to GDP came from private consumption (4.2 percentage points) and government spending (0.4 percentage points). In contrast, fixed investment, changes in inventories and net trade subtracted 0.4 percentage points each from the growth.

Year-on-year, private consumption grew 6.7 percent (5.4 percent in Q2); and public spending increased 4.1 percent (3.2 percent in Q2). By contrast, gross fixed capital formation contracted for the first time since the second quarter of 2016 by 1.7 percent, following a 7.2 percent growth in the previous period. Within fixed investment, expenditure on machinery, equipment and intellectual property products decreased 6 percent, as against the increase of 4.7 percent in Q2. Exports of goods went up 5.5 percent, the same pace as in Q2, and imports jumped 6.1 percent, also the same as in Q2. Exports of services advanced 3.7 percent (2.6 percent in Q2) and imports increased at a slower 1.5 percent (3.7 percent in Q2).

On a quarterly basis, the GDP advanced 0.5 percent, following an upwardly revised 1.1 percent expansion in the previous period. Private consumption grew 2.4 percent (2.1 percent in Q2) and government spending went up 1.5 percent (1.1 percent in Q2). Meanwhile, exports of goods rose 0.7 percent (-0.9 percent in Q2) and imports increased 1.9 percent (-0.3 percent in Q2). Exports of services jumped 2.8 percent (-1 percent in Q2) while imports shrank 2.3 percent (1.8 percent in Q2).

The robust quarterly performance prompted Hong Kong's statistics office to revise its full-year GDP forecast from a range of 3-4 percent to 3.7 percent in 2017.

Census and Statistics Department | Joana Ferreira |
11/10/2017 9:01:03 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-05-12 08:30 AM GDP Growth Rate YoY 4.3% 3.2% 3.4% 3.4%
2017-08-11 08:30 AM GDP Growth Rate YoY 3.8% 4.3% 3.7%
2017-11-10 08:30 AM GDP Growth Rate YoY 3.6% 3.9% 4% 3.9%
2018-02-28 08:30 AM GDP Growth Rate YoY 3.6%
2018-05-11 08:30 AM GDP Growth Rate YoY
2018-08-10 08:30 AM GDP Growth Rate YoY


Hong Kong GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 1.00 6.10 -3.40 percent [+]
GDP Annual Growth Rate 3.60 3.90 20.70 -8.10 percent [+]
GDP 320.91 309.40 320.91 1.32 USD Billion [+]
GDP Constant Prices 645058.00 602926.00 657542.00 67245.00 HKD Million [+]
Gross National Product 677260.00 648773.00 682811.00 337376.00 HKD Million [+]
Gross Fixed Capital Formation 134384.00 142102.00 157800.00 15787.00 HKD Million [+]
GDP per capita 36725.60 36191.40 36725.60 3380.60 USD [+]
GDP per capita PPP 54279.20 53489.60 54279.20 26974.30 USD [+]
GDP From Agriculture 436.00 376.00 602.00 301.00 HKD Million [+]
GDP From Construction 28504.00 29358.00 29358.00 13065.00 HKD Million [+]
GDP From Manufacturing 6688.00 6221.00 11028.00 6211.00 HKD Million [+]
GDP From Public Administration 109459.00 102254.00 109459.00 69348.00 HKD Million [+]
GDP From Services 537653.00 543187.00 576119.00 268771.00 HKD Million [+]
GDP From Transport 35569.00 38460.00 39295.00 17352.00 HKD Million [+]
GDP From Utilities 9035.00 7664.00 10860.00 6236.00 HKD Million [+]


Hong Kong GDP Annual Growth Rate

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 December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.60 3.90 20.70 -8.10 1974 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Sep/17
India 6.30 Sep/17
Indonesia 5.06 Sep/17
South Korea 3.80 Sep/17
Spain 3.10 Sep/17
Canada 3.00 Sep/17
Netherlands 3.00 Sep/17
Australia 2.80 Sep/17
Germany 2.80 Sep/17
Euro Area 2.60 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Japan 2.10 Sep/17
Russia 1.80 Sep/17
Italy 1.70 Sep/17
Mexico 1.50 Sep/17
United Kingdom 1.50 Sep/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17