Current Account in Hong Kong

Hong Kong Current Account | Economic News & Forecasts

Hong Kong - Current Account

Economic growth fell to a two-year low in the third quarter on the back of slowing private and public spending, though investment growth picked up thanks to a low base effect. Consumption was weighed on by losses in equity and property markets in the quarter, which suffered notably from higher interest rates and a loss of confidence mainly related to trade tensions affecting the mainland. The waning momentum furthermore appears to have continued in Q4. The PMI dropped further into negative territory in November on weak Chinese demand, and business confidence for Q4 also slipped. Meanwhile, though the Hang Seng Property Index pared back some of its losses in recent weeks, the broader equity index largely continued on its downward trend. Additionally, although retail sales growth picked up in October from September’s two-year low, it was still much lower than the readings seen earlier this year. Both these factors suggest private consumption is again losing steam in Q4, while the souring trade environment is likely to dampen external demand

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 Yield2.023.38 %Jan 16
Exchange Rate7.84-0.11 %Jan 16
Stock Market26,902-1.92 %Jan 16

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