Hong Kong GDP Growth Up to 0.8% QoQ in Q2

On a seasonally adjusted quarter-to-quarter comparison basis, the GDP expanded 0.8 percent in the second quarter of 2013, up from 0.2 percent growth in the first three months of 2013, boosted by higher government spending and exports of services.

Government consumption increased by 2.1 percent qoq, as against the 0.2 percent contraction in the previous quarter. 

In contrast, private consumption shrank by 2.2 percent qoq, down from 4.4 percent growth in the first quarter.

While shipments of goods contracted by 3.1 percent qoq, exports of services increased 3.9 percent, led by higher exports of travel services. 

Imports of both goods and services shrank in the second quarter over the previous quarter by 2.2 percent and 3 percent, respectively. 

On a year-on-year comparison basis, the GDP increased by 3.3 percent, the fastest pace in the last seven quarters. . 

Hong Kong GDP Growth Up to 0.8% QoQ in Q2

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
8/16/2013 10:48:28 AM