Current Account in Hong Kong

Hong Kong - Current Account
After shrinking at the sharpest pace since 2020 in Q1 2022 due to soaring Covid-19 cases and tough ensuing restrictions, the economy is enjoying a strong rebound in Q2. Covid-19 cases have tumbled since their March peak, allowing for the progressive rollback of restrictions, and the distribution of HKD 5,000 (around USD 635) consumption vouchers to citizens in April is further aiding private spending. Looking at available indicators, retail sales surged year on year in April, while the private-sector PMI rose to an over decade-high in May. However, ongoing quarantine requirements continue to hamper tourism and the city’s international competitiveness. Moreover, in mid-June, testing requirements were reintroduced for entry to bars and clubs in response to a slight uptick in cases, raising the specter of a broader snapback of restrictions ahead.Hong Kong - Current Account Data
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Current Account (% of GDP) | 3.3 | 4.0 | 4.6 | 3.7 | 6.2 |
Hong Kong Current Account Chart

Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 1.82 | 3.38 % | Dec 31 |
Exchange Rate | 7.79 | -0.11 % | Jan 01 |
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Economic News
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Hong Kong: Inflation increases in December
January 20, 2023
Inflation edged up to 2.0% in December, above November’s 1.8%, amid faster price rises for food and transport.
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Hong Kong: PMI picks up in December but stays downbeat
January 5, 2023
The S&P Global Purchasing Managers' index (PMI) came in at 49.6 in December, up from November's 48.7.
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Hong Kong: Retail sales contract at sharpest pace since March in November
January 4, 2023
Retail sales plunged 5.3% year on year in November (October: +2.5% yoy), confounding market expectations for an increase.
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Hong Kong: Private sector PMI eases in November
December 5, 2022
The S&P Global Purchasing Managers' Index (PMI) fell to 48.7 in November from October's 49.3.
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Hong Kong: Retail sales rebound in October
December 1, 2022
Retail sales rose 2.4% compared to the same month of the previous year in October, which contrasted September's 1.3% decrease.