GDP reading: Spain’s GDP increased 0.8% in seasonally adjusted quarter-on-quarter terms in Q4, following 0.6% growth in the previous quarter....
Economic Growth in Hong Kong
Hong kong's economy recorded an average growth rate of 1.3% in the decade to 2024, compared to the 4.9% average for East & South Asia. In 2024, real GDP growth was 2.5%. For more GDP information, visit our dedicated page.
Hong Kong GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Hong Kong from 2014 to 2025.
Source: Macrobond.
Hong Kong GDP Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | -6.5 | 6.5 | -3.7 | 3.2 | 2.6 |
| GDP (USD bn) | 345 | 369 | 359 | 381 | 407 |
| GDP (HKD bn) | 2,676 | 2,868 | 2,809 | 2,983 | 3,175 |
| Economic Growth (Nominal GDP, ann. var. %) | -5.9 | 7.2 | -2.1 | 6.2 | 6.4 |
Economic growth rises in the fourth quarter of 2025
GDP reading: Hong Kong's GDP grew 3.8% in annual terms in Q4, following a 3.7% expansion in the previous quarter. Q4's reading was the strongest since Q4 2023. In seasonally adjusted quarter-on-quarter terms, the economy expanded 1.0% in Q4, following 0.9% growth in the prior quarter.
Broad-based expansion: Compared to the previous period's data, readings in Q4 improved for private consumption (+2.5% in annual terms vs +2.4% in Q3), fixed investment (+10.9% vs +3.4% in Q3), exports of goods (+15.5% vs +12.0% in Q3), imports of goods (+18.4% vs +11.7%) and imports of services (+3.1% vs +2.3% in Q3). In contrast, readings worsened for government consumption (+1.4% vs +2.0% in Q3) and exports of services (+4.9% vs +6.6% in Q3). Key underlying drivers behind the solid economic performance were higher visitor arrivals, strong global demand for electronics exports, strong financial services activity, lower interest rates than in 2024 and a stabilizing property market.
Panelist insight: On the data and outlook, Nomura analysts said: “For full-year 2025, GDP growth reached 3.5% – the fastest rate of annual expansion since 2021. Excluding the volatile Covid years, this marks the strongest economic growth since 2017. Given these latest outturns, we raise our 2026 GDP growth forecast to 3.3% from 2.7%. We expect GDP growth to slow only modestly to 3.6% y-o-y in Q1.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Hong Kong GDP projections for the next ten years from a panel of 32 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Hong Kong GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Hong Kong GDP projections.
Want to get access to the full dataset of Hong Kong GDP forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
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Spain: Economic growth accelerates in the fourth quarter of 2025 -
Mexico: Economy perks up in Q4 GDP reading: Mexico’s GDP expanded 0.8% on a seasonally adjusted quarter-on-quarter basis in Q4 2025, following a 0.3% contraction in... -
Hong Kong: Economic growth rises in the fourth quarter of 2025 GDP reading: Hong Kong’s GDP grew 3.8% in annual terms in Q4, following a 3.7% expansion in the previous quarter.... -
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