Hong Kong GDP advanced 5.4 percent on quarter in the first three months of 2021, faster than the 0.5 percent gain in the fourth quarter of 2020 and slightly beating preliminary figures of 5.3 percent. It was the fastest expansion since the third quarter of 2003, underpinned by a recovery in external demand, with shipments of goods jumping 14.4 percent (vs 2.9 percent in Q4) and exports of services going up 9.2 percent (vs -5.5 percent), while purchases of goods from abroad went up a slower 10.4 percent (vs 3.2 percent) and imports of services rose 4.0 percent (vs 0.9 percent). Finally, government spending increased at a faster pace (3.5 percent vs 0.8 percent), while private consumption eased (0.9 percent vs 1.4 percent). Year-on-year, the economy expanded 7.9 percent, also faster than flash estimates. source: Census and Statistics Department, Hong Kong
GDP Growth Rate in Hong Kong averaged 0.85 percent from 1990 until 2021, reaching an all time high of 6.10 percent in the third quarter of 2003 and a record low of -5.60 percent in the first quarter of 2020. This page provides - Hong Kong GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hong Kong GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
GDP Growth Rate in Hong Kong is expected to be 0.50 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 0.50 in 12 months time. In the long-term, the Hong Kong GDP Growth Rate is projected to trend around 1.00 percent in 2022, according to our econometric models.