Hong Kong's Macroeconomic Analyses:
Nominal GDP of USD 381 billion in 2023.
Nominal GDP of USD 360 billion in 2022.
GDP per capita of USD 48,158 compared to the global average of USD 10,589.
GDP per capita of USD 50,544 compared to the global average of USD 10,589.
Average real GDP growth of 1.4% over the last decade.
Average real GDP growth of 1.2% over the last decade.
Sector Analysis
In 2020, services accounted for 94% of overall GDP, manufacturing 1%, other industrial activity 5%, and agriculture 0%. Looking at GDP by expenditure, private consumption accounted for 65% of GDP in 2021, government consumption 13%, fixed investment 18%, and net exports 4%.International trade
In 2021, manufactured products made up 91% of total merchandise exports, mineral fuels 0%, food 1%, ores and metals 2% and agricultural raw materials 0%, with other categories accounting for 6% of the total. In the same period, manufactured products made up 88% of total merchandise imports, mineral fuels 2%, food 4%, ores and metals 2% and agricultural raw materials 0%, with other goods accounting for 4% of the total. Total exports were worth USD 580 billion in 2022, while total imports were USD 630 billion.The economy recorded average annual growth of 1.2% in the decade to 2022. To read more about GDP growth in Hong Kong, go to our dedicated page.
Fiscal policy
Hong Kong's fiscal surplus averaged 0.7% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 3.7% in the decade to 2022. For more information on Hong Kong's unemployment click here.
Inflation
Inflation averaged 2.6% in the decade to 2022. Go to our Hong Kong inflation page for extra insight.
Monetary Policy
Hong Kong's monetary policy rate ended 2022 at 4.75%, up from 0.50% a decade earlier. See our Hong Kong monetary policy page for additional details.
Exchange Rate
From end-2012 to end-2022 the Hong Kong dollar stayed on the same level vs the U.S. dollar. For more info on the Hong Kong dollar, click here.
47 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 28 expert analysts.
Want to get insight on the economic outlook for Hong Kong in the coming years? FocusEconomics collects projections out to 2034 on 47 economic indicators for Hong Kong from a panel of 28 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Hong Kong economy. To download a sample report on the Hong Kong's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.