Current Account in Hong Kong
Hong Kong - Current AccountThe economy expanded at a more moderate year-on-year pace in the third quarter, predominately due to a less favorable base effect as activity increased marginally in sequential terms. A marked fall in fixed investment growth led the annual slowdown in the quarter, while household spending growth was relatively stable and government consumption increased at a faster pace. On the external front, growth in both exports and imports eased in the period. Turning to Q4, GDP growth will likely continue to slow on an annual basis, but should remain robust in sequential terms as the private sector PMI continued to point to improved operating conditions in October, while the government’s consumption voucher scheme should be stoking private spending. That said, business sentiment soured in October and strict quarantine rules will likely be weighing on the tourism sector, stunting momentum somewhat.
Hong Kong - Current Account Data
|Current Account (% of GDP)||3.3||4.0||4.6||3.7||6.2|
5 years of economic forecasts for more than 30 economic indicators.
Hong Kong Current Account Chart
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
|Bond Yield||1.82||3.38 %||Dec 31|
|Exchange Rate||7.79||-0.11 %||Jan 01|
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November 4, 2021
Retail sales increased 55.5% in year-on-year terms in September, which followed August's 63.2% increase.
November 3, 2021
The IHS Markit Purchasing Managers’ Index (PMI) fell to 50.8 in October from September's 51.7.
October 21, 2021
Consumer prices fell a seasonally-adjusted 0.70% in September over the previous month, after falling 0.10% in August.
October 4, 2021
Retail sales increased 14.7% year-on-year in August (July: +5.0% yoy).
October 4, 2021
The IHS Markit Purchasing Managers’ Index (PMI) fell to 51.7 in September from August's 53.3.