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Hong Kong GDP Growth Rate YoY
Hong Kong has emerged in recent years as a major international hub for businesses, traders, and financiers seeking to gain access to the Chinese market through importation. As a result, the services sector is the most important sector of the economy, accounting for approximately 93%. Wholesale and retail trade account for 25% of GDP, followed by public administration and social services (17%), finance and insurance (16%), real estate and business services (11%), ownership of premises (10%), transport and postal services (6%). Information and communications, as well as food and lodging, account for 8%, construction accounts for 3.5% of GDP, with power, water, and gas distribution, waste management, and manufacturing accounting for 3.4%.
A higher than expected figure should be seen as positive (bullish) for the HKD while a lower than expected figure should be seen as negative (bearish) for the HKD.
News (HKD)
Hong Kong Budget Focuses On Spending Cuts, Promoting AI
Hong Kong Financial Secretary Paul Chan unveiled the budget on Wednesday that largely focused on government spending cuts with minimal impact on people's livelihood and underscored the importance of artificial intelligence to enhance competitive edge. The government estimated a consolidated deficit of HK$87.2 billion for 2024-25, which was smaller than the HK$100 billion previous projection.
RTTNews | 125 days ago
Hong Kong PMI Ebbs In January - S&P Global
The private sector in Hong Kong continued to expand in January, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a PMI score of 51.0.
RTTNews | 147 days ago
Hong Kong Private Sector Ebbs In December - S&P Global
The private sector in Singapore continued to expand in December, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a PMI score of 51.1.
RTTNews | 177 days ago
