The economy of Hong Kong contracted 0.3 percent on quarter in the three months to December 2018, compared to a 0.1 percent growth in the prior quarter. Exports of goods contracted 2.7 percent (vs 1.2 percent in Q3) while those of services grew by 0.7 percent (vs 0.5 percent in Q3). Meantime, imports of goods declined by 5 percent (vs 3.1 percent in Q3) while those of services went up 0.1 percent (vs 0.7 percent in Q3). At the same time, private consumption rose by 0.2 percent (vs 0.6 percent) and government spending grew by 1.4 percent (vs 0.7 percent in Q3). GDP Growth Rate in Hong Kong averaged 0.92 percent from 1990 until 2018, reaching an all time high of 6.10 percent in the third quarter of 2003 and a record low of -3.40 percent in the first quarter of 2009.
GDP Growth Rate in Hong Kong is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Hong Kong to stand at 0.70 in 12 months time. In the long-term, the Hong Kong GDP Growth Rate is projected to trend around 1.00 percent in 2020, according to our econometric models.