Current Account in Hong Kong

Hong Kong Current Account | Economic News & Forecasts

Hong Kong - Current Account

Economic momentum likely ticked up in Q1 2019 but remained feeble, after growth fell to a nearly three-year low in the previous quarter. The main positive development came from a rebound in the stock and property markets, which should support private spending. Nonetheless, the private-sector PMI remained mired in contractionary territory throughout the quarter, though its average reading slightly improved compared to Q4. Meanwhile, retail sales contracted over January-February, due largely to a slowdown in mainland tourist arrivals combined with lower spending per visitor. Finally, the labor market in February shed jobs for the first time since 2010, in a sign that private consumption could face pressures going forward. Looking at Q2, external factors should still drag on growth, but the picture is set to improve thanks to Chinese fiscal stimulus, a likely growth rebound in other advanced economies and a more dovish Fed.

Hong Kong - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)1.5  1.4  3.3  4.0  4.2  

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Hong Kong Current Account Chart


Hong Kong Current Account
Note: Current account balance as % of GDP.
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.

Hong Kong Facts

ValueChangeDate
Bond Yield1.633.38 %May 10
Exchange Rate7.85-0.11 %May 13
Stock Market28,550-1.92 %May 10

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