Current Account in Hong Kong

Hong Kong Current Account | Economic News & Forecasts

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  

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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

Bond Yield1.773.38 %Mar 11
Exchange Rate7.85-0.11 %Mar 11
Stock Market28,503-1.92 %Mar 11

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