Current Account in Hong Kong
Hong Kong - Current Account
Hong Kong’s economic performance appears to have been feeble in the fourth quarter of last year and will likely remain subdued through Q1 2019. Meek retail sales growth throughout Q4 indicates weaker private consumption in the quarter, likely weighed on by the slowdown in mainland China affecting tourist spending, despite robust visitor inflows. Meanwhile, PMI data for the quarter showed anemic activity due to low external demand, as the country remains exposed to the U.S.-China trade conflict. This was also reflected by a contraction of merchandise exports in November and December. Furthermore, the January PMI suggests weakness in the private sector will persist in Q1, while business confidence turned sharply pessimistic for the quarter which could weigh on investment. On the flipside, the stock market has made strong gains since the start of the year—thanks notably to a more dovish Fed and hopes of progress in Sino-American trade negotiations—which should support domestic spending.Hong Kong - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | 1.5 | 1.4 | 3.3 | 4.0 | 4.2 |
Hong Kong Current Account Chart
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.77 | 3.38 % | Mar 11 |
| Exchange Rate | 7.85 | -0.11 % | Mar 11 |
| Stock Market | 28,503 | -1.92 % | Mar 11 |
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Economic News
Hong Kong: Retail sales surge in January due to seasonal holiday effects and high tourist inflows
March 5, 2019
Retail sales by volume rose 6.9% in annual terms in January, rebounding from December’s near flat growth of 0.1%.
Hong Kong: PMI inches up in February
March 5, 2019
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, rose from 48.2 in January to 48.4.
Hong Kong: Growth tumbles again in Q4 on broad-based deterioration amid worsening external environment
February 27, 2019
The economy decelerated for the third consecutive quarter in Q4 2018, as Hong Kong continued to grapple with the ongoing slowdown in mainland China and ripple effects from the trade war.
Hong Kong: Inflation keeps declining at the outset of 2019
February 22, 2019
Inflation ticked down from 2.5% in December to 2.4% in January.
Hong Kong: PMI remains feeble at the start of the year
February 8, 2019
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, rose from 48.0 in December to 48.2 in January.
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