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What is Hong Kong GDP in 2021?

320.00 USD Billion
GDP in Hong Kong is expected to reach 320.00 USD Billion by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong GDP is projected to trend around 365.00 USD Billion in 2022, according to our econometric models.

What is the GDP forecast for 2021?

Oct 10 (Reuters) – Goldman Sachs cut its U.S. economic growth target to 5.6% for 2021 and to 4% for 2022 citing an expected decline in fiscal support through the end of next year and a more delayed recovery in consumer spending than previously expected.

How is Hong Kong economy doing now?

Hong Kong’s economy expanded by 7.6% year-on-year in real terms in the second quarter of 2021, after an increase of 8.0% (year-on-year) in the preceding quarter.

Why is Hong Kong GDP so high?

Hong Kong’s economic strengths include a sound banking system, virtually no public debt, a strong legal system, ample foreign exchange reserves at around US $408 billion as of mid-2017, rigorous anti-corruption measures and close ties with mainland China.

Is Hong Kong a developed country?

HDI is set on a scale from 0 to 1, and most developed countries have a score above . 80….Developed Countries List.

Country Human Development Index 2021 Population
Hong Kong 0.949 7,552,810
Iceland 0.949 343,353
Germany 0.947 83,900,473
Sweden 0.945 10,160,169

What is the GDP of China in 2021?

$16.642 trillion
As of August 2021, China has over 400 million 5G users and 1 million base stations….Economy of China.

Population 1,443,995,000 (2021)
GDP $16.642 trillion (nominal; 2021 est.) $26.66 trillion (PPP; 2021 est.)
GDP rank 2nd (nominal; 2021) 1st (PPP; 2021)
GDP growth 6.7% (2018) 6.0% (2019) 2.3% (2020) 8.5% (2021)

Is Hong Kong’s economy good?

Hong Kong has a free market economy, highly dependent on international trade and finance – the value of goods and services trade, including the sizable share of reexports, is about four times GDP. Excess liquidity, low interest rates and a tight housing supply have caused Hong Kong property prices to rise rapidly.

What was the GDP growth rate in Hong Kong?

GDP Growth Rate in Hong Kong averaged 0.84 percent from 1990 until 2021, reaching an all time high of 6.10 percent in the third quarter of 2003 and a record low of -5.60 percent in the first quarter of 2020. This page provides – Hong Kong GDP Growth Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news.

What’s the forecast for the Hong Kong economy?

The FocusEconomics panel projects the economy to rebound and grow 6.5% in 2021, which is up 0.1 percentage points from the previous month’s forecast. In 2022, the panel sees growth moderating to 3.0%.

Why did the Hong Kong economy slow down in the last quarter?

The slowdown was predominately driven by a weaker external sector as export growth tapered and import growth strengthened. However, domestic demand rebounded notably in the quarter—hitting an over 11-year high—as both private consumption and fixed investment surged.

What is the GDP growth forecast for 2021?

Considering the robust real GDP outturn in the first half of the year and the support from the Consumption Voucher Scheme, the real GDP growth forecast for 2021 as a whole is revised upwards to 5.5%-6.5% in the current round of review, from 3.5%-5.5% as announced in the May round of review.