Hong Kong SAR (China) - Real Fixed Investment (gross fixed capital formation)

For Hong Kong SAR (China), quarterly and annual national accounts with detailed expenditure and production approaches (a.k.a. GDP(E) and GDP(O)).

• Expenditure approach: quarterly at chained prices current prices, deflators, growth rates; annual growth rates.
• Production approach: quarterly at chained prices from 1973, annual at current prices from 1961.

Acive:

• National accounts framework: UN SNA 2008
• Industry classification: HSIC 2.0
• Measurements:
  • Millions of Hong Kong dollars at chained year-2024 prices (Mil. Ch. 2024 HKD)
  • At current prices (Mil. HKD)
  • Fixed-base index relative to 2024 (Index 2024=100)
  • Quarter-over-quarter percent change (% Q/Q)
  • Year-over-year percent change (% Y/Y)
  • Percent share (%)
• Adjustments:
  • Seasonally adjusted (SA) 
  • Not seasonally adjusted (NSA)
• Native frequencies:
  • Quarterly
  • Annual
• Start dates:
  • Quarterly from as early as 1973Q1
  • Annual from as early as 1961

Predecessors:

• At 2023 prices - 1973Q1 to 2025Q4 ("_23")
• At 2022 prices - 1973Q1 to 2024Q4 ("_22")
• At 2021 prices - 1973Q1 to 2023Q4 ("_21")
• At 2020 prices - 1973 to 2022 ("_20")
• At 2019 prices - 1973 to 2021 ("_19")
• At 2018 prices - 1973 to 2020 ("_18")
• At 2017 prices - 1973 to 2019 ("_17")
• At 2016 prices - 1973 to 2018 ("_16")
• At 2012 prices, HSIC 1.1
• At 2011 prices, HSIC 1.1
• At 2008 prices, HSIC 1.1

Global concept aliases:

• GDP, GDP$
• C, C$
• G, G$
• I, I$
• IF, IF$
• CI, CI$
• NETEX, NETEX$
• EX, EX$
• IM, IM$

Gross Domestic Product is a measure of the total cost of production of all occupant producing units of a country or territory in a stated period, before subtracting allowance for consumption of fixed capital.

Per capita GDP of a country or territory is found by dividing total GDP in a year by the population of that country or territory in the identical year.

GDP can be measured using alternate methods. For Hong Kong, GDP is collected using the expenditure approach and the production approach.

For chained prices, the currency reference year is updated every year. As of 2019 it is 2017.

Collection of GDP through the expenditure approach is the total final expenditures on goods and services (including private consumption expenditure, government consumption expenditure, gross domestic fixed capital formation, changes in inventories and exports of goods and services), minus imports of goods and services.

The collection structure of GDP and Gross National Income (GNI) agrees fundamentally with the global principles as specified in the System of National Accounts 2008 (2008 SNA). GDP by expenditure component at current market prices and in volume terms are collected. Modifications in "volume measure of GDP" (also denoted as changes in real terms) mirror modifications in the volumes of goods and services produced or purchased from one period to another.

Source tables

• Table 30 - Gross Domestic Product (GDP), implicit price deflator of GDP and per capita GDP [2008 SNA]
• Table 31 - Gross Domestic Product (GDP), implicit price deflator of GDP and per capita GDP [2008 SNA]
• Table 32 - GDP and its main expenditure components in chained (2018) dollars
• Table 35 - Gross Domestic Product (GDP) by Economic Activity at Current Prices
• Table 310-34101 - Gross Domestic Product (GDP) by Economic Activity at Current Prices
• Table 310-310020-31001 - Gross Domestic Product (GDP), implicit price deflator of GDP and per capita GDP

Moody's Analytics supplements

For select components of GDP(E) in SA terms, we back-extend over the interval 1973Q1 to 1989Q4. These are marked with a secondary source citation of "Moody's Analytics Estimated."

We construct certain identities in NSA terms. These are marked "Moody's Analytics Calculated."

We construct seasonally adjusted counterparts for level series (whereas the percent-change and deflator series are reported in SA terms by HKSARG). Depending on whether we adjust them directly or as additive identities, these are marked "Moody's Analytics Adjusted" or "Calculated."

Yes.

The source writes:

The first released figures on GDP by expenditure component in respect of a period are called "advance estimates". When more data become available, the figures will be revised [and these] are still subject to further regular revision later on when more data are incorporated.

The source writes (June 2024):

The first released figures on GDP by economic activity in respect of a period are called "preliminary figures".  When more data become available, the figures will be revised. All those figures published subsequently, after the preliminary figures, are called "revised figures". These "revised figures" are still subject to further regular revision later on when more data are incorporated. This routine revision is in accordance with the international practice to compile and release GDP figures at the earliest possible time by using only partial data. In general, the figures are finalised when finalised data from all regular sources are incorporated.

For chained-price figures, the currency reference year is advanced annually in May.

The source writes:

In calculating the year-on-year growth rate of private consumption expenditure (PCE) for 1992, the 1991 figures was adjusted to exclude the expenditure of ex-subvented hospitals (now called public hospitals). This is because, after the establishment of the Hospital Authority, ex-subvented hospitals started to function as instruments of the government to implement the provision of subsidised hospital services to the general public. In this regard, ex-subvented hospitals, which were previously classified as PCE, are now classified as government consumption services (GCE). The adjustment to the PCE figure for 1991 is for comparability with the figure for 1992. This avoids any distortion of the year-on-year growth rates due to the change in classification. For details, see paragraphs 3.26 and 3.27 of the annual GDP report at http://www.censtatd.gov.hk/hkstat/sub/sp250.jsp?productCode=B1030002

Further reading

At the source:

• Concepts and methods:
  • National accounts
  • Revision

At IMF (SDDS):

• National accounts (Dec 2025 / Jan 2026)

• 2 May 2023, Phillip Thorne - Description, Properties, Source tables, Revisions, Further reading.
• 1 Jun 2023, Phillip Thorne - Re-referenced to 2021: Properties.
• 5 Aug 2024, Phillip Thorne - Re-referenced to 2022: Properties, Moody's Analytics supplements.
• 22 May 2025, Phillip Thorne - Re-referenced to 2023: Properties.
• 20 May 2026, Phillip Thorne - Re-referenced to 2024: Properties.