Hong Kong SAR (China) - Real Gross Domestic Product





Hong Kong SAR (China): Real Gross Domestic Product

Mnemonic GDP$.IHKG
Unit Mil. Ch. 2019 HKD, SA
Adjustments Seasonally Adjusted
Quarterly 0.88 %
Data 2021 Q2 708,172
2021 Q1 714,458

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 6/30/2021

Hong Kong SAR (China): GDP

Reference Last Previous Units Frequency
Government Consumption 2021 Q2 84,453 95,595 Mil. HKD, NSA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2021 Q2 123,771 117,321 Mil. HKD, NSA Quarterly
Nominal Gross Domestic Product 2021 Q2 676,183 702,948 Mil. HKD, NSA Quarterly
Private Consumption 2021 Q2 467,267 450,967 Mil. HKD, NSA Quarterly
Real Fixed Investment (gross fixed capital formation) 2021 Q2 127,609 119,943 Mil. Ch. 2019 HKD, NSA Quarterly
Real Government Consumption 2021 Q2 85,966 87,597 Mil. Ch. 2019 HKD, SA Quarterly
Real Gross Domestic Product 2021 Q2 708,172 714,458 Mil. Ch. 2019 HKD, SA Quarterly
Real Private Consumption 2021 Q2 465,701 459,714 Mil. Ch. 2019 HKD, SA Quarterly
Real Investment 2021 Q1 134,825 122,188 Mil. Ch. 2018 HKD, NSA Quarterly
Investment 2020 Q4 134,326,000,000 119,580,000,000 HKD, NSA Quarterly

Release Information

Quarterly national accounts for Hong Kong SAR; detailed expenditure and production approaches; in current and constant prices; with levels, growth and deflators. Quarterly from 2000.

Acive:

  • National accounts framework: UN SNA 2008
  • Industry classification: HSIC 2.0
  • Measurements:
    • Millions of Hong Kong dollars at chained year-2018 prices (Mil. Ch. 2018 HKD)
    • Fixed-base index relative to 2018 (Index 2018=100)
    • Quarter-over-quarter percent change (% Q/Q)
    • Year-over-year percent change (% Y/Y)
  • Adjustments:
    • Seasonally adjusted (SA) 
    • Not seasonally adjusted (NSA)
  • Native frequency: Quarterly
  • Start date: As early as 1973Q1

Predecessors:

  • At 2017 prices
  • At 2016 prices
  • 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.

Moody's Analytics supplements

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

Revisions sometimes are produced by the source in future quarterly releases. These revisions are captured in the database.

For chained prices, the currency reference year is updated annually.

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):