Hong Kong SAR (China) - Nominal Gross Domestic Product





Hong Kong SAR (China): Nominal Gross Domestic Product

Mnemonic GDP.IHKG
Unit Mil. HKD, NSA
Adjustments Not Seasonally Adjusted
Quarterly 8.53 %
Data 2023 Q3 767,101
2023 Q2 706,780

Series Information

Source Census and Statistics Department Hong Kong Special Administrative Region (HKSARG)
Release National accounts
Frequency Quarterly
Start Date 3/31/1973
End Date 9/30/2023

Hong Kong SAR (China): GDP

Reference Last Previous Units Frequency
Government Consumption 2023 Q3 97,052 93,216 Mil. HKD, NSA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2023 Q3 127,072 121,556 Mil. HKD, NSA Quarterly
Nominal Gross Domestic Product 2023 Q3 767,101 706,780 Mil. HKD, NSA Quarterly
Private Consumption 2023 Q3 523,565 537,162 Mil. HKD, NSA Quarterly
Real Fixed Investment (gross fixed capital formation) 2023 Q3 126,594 120,202 Mil. Ch. 2021 HKD, NSA Quarterly
Real Government Consumption 2023 Q3 92,658 91,083 Mil. Ch. 2021 HKD, SA Quarterly
Real Gross Domestic Product 2023 Q3 711,507 711,042 Mil. Ch. 2021 HKD, SA Quarterly
Real Investment 2023 Q3 131,193 101,759 Mil. Ch. 2021 HKD, NSA Quarterly
Real Private Consumption 2023 Q3 497,350 501,144 Mil. Ch. 2021 HKD, SA Quarterly
Investment 2020 Q4 134,326,000,000 119,580,000,000 HKD, NSA Quarterly

Release Information

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-2021 prices (Mil. Ch. 2021 HKD)
    • At current prices (Mil. HKD)
    • Fixed-base index relative to 2021 (Index 2021=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 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

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

We compute certain identities in NSA terms. We compute seasonally adjusted counterparts for level series (whereas the percent-change and deflator series are reported in SA terms by HKSARG).

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. 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.

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

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:

At IMF (SDDS):

  • 2 May 2023, Phillip Thorne - Description, Properties, Source tables, Revisions, Further reading.
  • 1 Jun 2023, Phillip Thorne - Re-referenced to 2021: Properties.