Q4's reading marked the joint-best result since Q4 2019. While the slump matched the government’s previous forecast, the last time the local economy saw a … Publish your articles and forecasts in our website. Updated as of 2020. Hong Kong's gross domestic product has grown 180 times between 1961 and 1997. The GDP value of Hong Kong represents 0.30 percent of the world economy. Hong Kong gdp per capita for 2018 was $48,543, a 5.15% increase from 2017. The Hong Kong economy contracted by 6.1% for 2020 as a whole, the sharpest annual decline on record. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. GDP can be measured using different approaches. The economy will emerge from recession in 2021, but will be smaller in real terms than it was in 2018. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Hong Kong's GDP fell in 2009 as a result of the global financial crisis, but a recovery began in third quarter 2009, and the economy grew nearly 6% in 2010. The Shanghai municipal government dreamt of turning the city into China's main economic centre by as early as 2010. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Hong Kong GDP - composition by sector. of Hong Kong. Please check your download folder. A major milestone in the development in GDP statistics of Hong Kong is the compilation of the new quarterly series on constant price GDP by economic activity, to supplement the currently published quarterly figures on GDP by expenditure component. The latest value from is billion U.S. dollars. Download historical data for 20 million indicators using your browser. Hong Kong Economic Growth GDP is expected to rebound next year, emerging from a two-year recession triggered by political unrest and Covid-19. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. For a few countries where the official exchange rate does not reflect the rate effectively … Merchandise Trade statistics data for Hong Kong, China (HKG) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as percentage of GDP for Most Recent Year. GDP of Hong Kong increased from 169.38 billion US dollars in 2001 to 341.32 billion US dollars in 2020 growing at an average annual rate of 3.85%. Hong Kong gdp per capita for 2018 was $48,543, a 5.15% increase from 2017. Hong Kong’s Financial Secretary pledged $15.5 billion of fiscal support for an economy slowly emerging from two years of recession. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Hong Kong GDP: 422 billion International Dollars (2019) Gross Domestic Product (PPP in 2011 prices) World Bank national accounts data, and OECD National Accounts data files. Hong Kong's economy relative to China's gross domestic product (GDP) has fallen from a peak of 27 percent in 1993 to less than 3 percent in 2017. Find Out Download Historical Data Save as Image. Data are in current U.S. dollars. economy. In 2020, GDP for Hong Kong was 341.32 billion US dollars. GDP in Hong Kong averaged 112.52 USD Billion from 1960 until 2019, reaching an all time high of 366.03 USD Billion in 2019 and a record low of 1.32 USD Billion in 1960. Hong Kong gdp per capita for 2017 was $46,166, a 5.57% increase from 2016. Also, the GDP per capita rose by 87 times within the same time frame. GDP (current US$) - Hong Kong SAR, China. Hong Kong gdp per capita for 2016 was $43,731 , a 3.06% increase from 2015. Growth momentum remains robust in the 10 ASEAN countries, with economic growth averaging 5.6% over 2015-19. The average value for Hong Kong during that period was 112.51 billion U.S. dollars with a minimum of 1.32 billion U.S. dollars in 1960 and a maximum of 365.71 billion U.S. dollars in 2019. Annual GDP growth for the ASEAN -10, China and India is forecast to average 6.5% over 2015-19. 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