In the fourth quarter, GDP expanded 6.2% over the same quarter last year, which was below the 6.7% growth recorded in the third quarter but above market expectations of a 5.5% expansion. In the full year 2010, GDP expanded 6.8% over the previous year, contrasting the 2.7% contraction in 2009. The reading reflected a strong improvement in domestic demand, which was offset to some extent by a weaker external sector. Domestic demand improved on the back of strong gross fixed investment (Q4: +8.8% year-on-year) and robust private consumption (Q4: +7.1% yoy). In contrast, the external sector lost steam as both exports and imports decelerated markedly. Exports of goods and services expanded 8.6% (Q3: +19.7% yoy) while imports rose 7.5% (Q3: +16.0% yoy). As a result, the net contribution to growth of the external sector fell from 8.4 percentage points in the third quarter to 2.9 percentage points in the fourth. A quarter-on-quarter comparison does not corroborate the slight deceleration suggested by the annual figures, as the economy expanded 1.5% over the second quarter in seasonally adjusted terms, up from the 0.9% expansion in the third quarter. The government recently published its forecast for 2011, and now expects full-year growth to range from 4.0% to 5.0%.
Hong Kong GDP
Economic growth remains strong in the fourth quarter
February 23, 2011
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.