In the fourth quarter, GDP expanded 3.0% over the same quarter the previous year, which was below the 4.3% growth recorded in the third quarter, and marked the slowest pace of expansion since the first quarter of 2010. In the full year 2011, GDP rose 5.0%, which was down from the strong 7.0% increase in 2010 but in line with the government's forecast. Domestic demand deteriorated on the back of softer growth in both private consumption (Q3: +9.8% year-on-year; Q4: +6.4% yoy) and gross fixed investment (Q3: +11.2% yoy; Q4: +9.0% yoy). In contrast, the external sector improved somewhat. Exports of goods and services expanded 2.5% (Q3: -0.6% yoy) while imports rose 3.7% (Q3: +1.5% yoy). As a result, the net contribution from the external sector to overall growth improved from minus 4.6 percentage points in the third quarter to minus 2.1 percentage points in the fourth. A quarter-on-quarter comparison does not corroborate the deceleration suggested by the annual figures, as the economy expanded 0.3% over the fourth quarter in seasonally adjusted terms, up from the 0.1% expansion recorded in the third quarter. The government recently published its forecast for 2012 and now expects full-year growth to range from 1.0% to 3.0%.
Hong Kong GDP
Economic growth decelerates in last quarter of 2011
February 1, 2012
Looking for forecasts related to GDP in Hong Kong? Download a sample report now.
Hong Kong Economic News
October 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit rose from August’s 49.0 to 49.3 in September.
September 30, 2016
Hopes last month that a recovery in retail sales might be underway were dampened in August on the back of declining numbers of mainland tourists.
September 22, 2016
Inflation came in at 4.3% in August, which was notably above July’s 2.3%.
September 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit climbed from July’s 47.2 to 49.0 in August.
August 29, 2016
Although tourist visitors increased for the first time in July after 13 months of successive drops, the effect on retail sales appears to have been limited.