GDP reading: GDP stagnated on a seasonally adjusted month-on-month basis in January, following 0.1% growth in the prior month. January’s...
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
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 6.5 | -3.7 | 3.2 | 2.6 | 3.5 |
| GDP (USD bn) | 369 | 359 | 381 | 407 | 425 |
| GDP (HKD bn) | 2,868 | 2,809 | 2,983 | 3,175 | 3,311 |
| Economic Growth (Nominal GDP, ann. var. %) | 7.2 | -2.1 | 6.2 | 6.4 | 4.3 |
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 33 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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United Kingdom: Economy stagnates in January -
Australia: Economic growth rises in the fourth quarter of 2025 GDP reading: Australia’s GDP increased 0.8% on a seasonally adjusted quarter-on-quarter basis in Q4, following 0.5% growth in the previous... -
South Africa: Economic growth rises in the fourth quarter of 2025 Q4 reading slightly above market expectations: South Africa’s GDP grew 0.4% in seasonally adjusted quarter-on-quarter terms in Q4, following a... -
Turkey: Economic growth slows in the fourth quarter of 2025 GDP reading: Turkey’s GDP expanded 0.4% on a seasonally adjusted quarter-on-quarter basis in Q4, following a 1.0% expansion in the... -
Brazil: A modest return to growth in Q4 2025 Q4 reading disappoints markets: Brazil’s GDP grew by a mere 0.1% in seasonally adjusted quarter-on-quarter terms in Q4, following a... -
Switzerland: Economy rebounds in Q4 2025 Mild rebound recorded: Switzerland’s GDP grew 0.1% on a seasonally adjusted quarter-on-quarter basis in Q4, following a 0.4% contraction in... -
Latvia: Economic growth accelerates in the fourth quarter of 2025 GDP reading: Latvia’s GDP increased 2.9% in annual terms in Q4, following a 2.6% expansion in the previous quarter. Q4’s...