The economy of Hong Kong expanded 2.8 percent quarter-on-quarter in the third quarter of 2020, slightly less than initial estimates of a 3 percent rise. Still, it is the first quarter of expansion in since early 2019, and the strongest growth rate in 11 years as the economy attempts to rebound from the coronavirus crisis. The near-term outlook will hinge critically on the local COVID-19 situation. Provided that the local epidemic remains well contained, domestic economic activities will likely see further modest improvement in Q4. Latest government forecasts point to a 6.1 percent drop in GDP for 2020. source: Census and Statistics Department, Hong Kong
GDP Growth Rate in Hong Kong averaged 0.82 percent from 1990 until 2020, reaching an all time high of 6.10 percent in the third quarter of 2003 and a record low of -5.50 percent in the first quarter of 2020. This page provides - Hong Kong GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hong Kong GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Growth Rate in Hong Kong is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Hong Kong to stand at 0.90 in 12 months time. In the long-term, the Hong Kong GDP Growth Rate is projected to trend around 1.00 percent in 2021, according to our econometric models.