China is curbing the ability of democracy activists to win elections in Hong Kong, with local reports saying a vote for the territory’s legislature would be delayed another year to September 2022. Leverage Knoema data to participate in the Snowflake Data Marketplace Challenge for a chance to win a free Snowflake SnowPro Certification Course. Our tools allow individuals and organizations to discover, visualize, model, and present their data and the world’s data to facilitate better decisions and better outcomes. Here, we take a look at the highlights of the 2020-2021 budget that will take effect at the start of Hong Kong’s fiscal year in April. Register today! Maskless Xi, China’s Modest GDP Target, Hong Kong: NPC Update Bloomberg News. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. The government has rolled out relief measures costing a total 290 billion Hong Kong dollars ($37.4 billion), including a one-off cash handout of HK$10,000 ($1,290) to all permanent residents. Along with a massive package of countercyclical measures unveiled in the 2020-21 budget, the total relief efforts cost HK$290 billion ($37.4 billion), equivalent to 9.5 percent of Hong Kong’s GDP. GDP of Hong Kong increased from 169.38 billion US dollars in 2001 to 341.32 billion US dollars in 2020 growing at an average annual rate of 3.85%. Bloomberg’s Stephen … You can change your personal cookie settings through your internet browser settings. GDP of Hong Kong increased from 169.38 billion US dollars in 2001 to 341.32 billion US dollars in 2020 growing at an average annual rate of 3.85%. The government this year increased its national expenditure by approximately 20 percent, forecasting a budget deficit of HKD 139.1 billion (US$17.9 billion) (about 4.8 percent of Hong Kong’s GDP) in 2021. Current Hong Kong GDP is 320.91 billion USD. (1 U.S. dollar equals 7.75 Hong Kong dollars) Enditem Search and explore the world’s largest statistical database to find data. Hong Kong’s economy contracted by 3.0% year-on-year in real terms in the fourth quarter of 2020, after a fall of 3.6% (year-on-year) in the preceding quarter. The Hong Kong government will spend more than 120 billion Hong Kong dollars ($15.5 billion) in the coming financial year on measures to lift its … Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. Our currency rankings show that the most popular Hong Kong Dollar exchange rate is the HKD to USD rate. The currency code for Dollars is HKD, and the currency symbol is HK$. But China’s new five-year plan that runs through 2025 didn’t give a numeric target for average growth. Download historical data for 20 million indicators using your browser. Integrate your data with the world’s data in a personalized and collaborative environment, purpose-built to support your organizational objectives. Hong Kong’s total inflow of primary income, which mainly comprises investment income, estimated at $401.7 billion in the third quarter of 2020 and equivalent to 57.5% of GDP in that quarter, recorded a decrease of 8.9% from a year earlier. Data are in current U.S. dollars. The GDP value of Hong Kong represents 0.30 percent of the world economy. The gross domestic product (GDP) measures of national income and output for a given country's economy. Hong Kong’s Financial Secretary pledged $15.5 billion of fiscal support for an economy slowly emerging from two years of recession. Hong Kong’s deficit will have ballooned to an estimated HK$257.6 billion ($33.2 billion) in the fiscal year ending March 31, 2021, Chan said in his speech, rising from HK$37.8 billion the previous year which was the first shortfall in 16 years. Leverage our AI Workflow Tools and online data environment to manipulate, visualize, present, and export data. Assuming nothing else has changed since 2017, if mainland visitor arrivals drop by 50 percent between August and December 2019, half a percentage point of Hong Kong’s GDP would be at stake. Hong Kong GDP Value was 366 USD Billion in 2021. Our website uses cookies to improve your online experience. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. In 2020, GDP for Hong Kong was 341.32 billion US dollars. More than 44 million mainland visitors in 2017 added HK$56.8 billion (US$7.24 billion) to Hong Kong’s economy, 2.2 percent of the city’s 2017 GDP. BEIJING - China's central bank issued 25 billion yuan ($3.87 billion) worth of bills in Hong Kong on Friday. Statistics and historical data on GDP growth rate, per capita PPP, constant prices. Okay to continue The new quarterly series enables analysis of … ... is about four times GDP. This level of fiscal reserves is equivalent to 11.3 months of government expenditure and is close to the level reached in 2003-04 when Hong Kong was hit by the SARS outbreak. source: World Bank 10Y 25Y This level of budget deficit will reduce Hong Kong’s fiscal reserves to HK$797.3 billion as at 31 March 2021, amounting to 29.6% of Hong Kong’s estimated GDP in 2020. - … Hong Kong will bank on HK$81 billion of one-off sweeteners and spending HK$100 billion in public works to pull the city out of its worst recession ever. Considering full 2020, the Hong Kong economy contracted 6.1 percent, the worst annual performance on record. The report contains Hong Kong facts, including Hong Kong's population, GDP, business, trade, inflation and more. Hong Kong GDP (Gross Domestic Product) was INT$421.68billion for 2019 in PPP terms. More Hong Kong Dollar info > GBP - British Pound. The Trading Economics Application Programming Interface (API) provides direct access to our data. Hong Kong’s government slashed its 2019 growth forecast Thursday and announced a HK$19.1 billion ($2.44 billion) package of measures to support the economy as the special administrative region faces threats from the impact of a global slowdown, the U.S.-China trade war and mass protests. Curated by Knoema’s data analysts to deliver leading short-term and long-term indicators and forecasts from trusted sources for each of the covered industries. A major milestone in the development in GDP statistics of Hong Kong is the compilation of the new quarterly series on constant price GDP by economic activity, to supplement the currently published quarterly figures on GDP by expenditure component. In 2020, GDP for Hong Kong was 341.32 billion US dollars. 20 April 2018 Hong Kong – By 2021, digital transformation will add an estimated US$9 billion to Hong Kong’s GDP, and increase the growth rate by 0.5% annually, according to a … Hong Kong's nominal GDP is $372 billion which is about the same as those of Singapore and Israel. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. At the end of 2007, GDP was HK$1,627.5 billion (US$208.7 billion) and GDP per capita was HK$235,134 (US$30,157). Hong Kong's economy, which leans heavily on international trade and finance, saw its gross domestic product shrink by 2.5% in the fourth quarter, the first such contraction in about a decade. 1960-2019 Data | 2020-2021 Forecast | Historical | Chart | News. Photo: Reuters Hong Kong budget 2021-2022 The Gross Domestic Product (GDP) in Hong Kong was worth 366.03 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Gross domestic product (GDP) shrank 6.1% in 2020, its worst annual performance on record since 1962. World and regional statistics, national data, maps and rankings, Discover new signals and insights from leading alternative and fundamental data providers, Latest releases of new datasets and data updates from different sources around the world. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Feeding 1.4 Billion … GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Publish your articles and forecasts in our website. China: Electric Vehicle Trends a Double Victory for Metals Powerhouse, Worldwide: COVID-19 Vaccination Progress Report, Current account balance as a share of GDP. In 2019, the total gross domestic product (GDP) of the Guangdong - Hong Kong - Macao Greater Bay Area amounted to around 1,679.26 billion U.S. Direct access to our calendar releases and historical data. They were placed on your computer when you launched this website. GDP Annual Growth Rate in Hong Kong averaged 4.83 percent from 1974 until 2020, reaching an all time high of 20.70 percent in the fourth quarter of 1976 and a record low of …
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