Hong Kong SAR: Selected Economic and Financial Indicators, 2010–16

Proj.

2010

2011

2012

2013

2014

2015

2016

Real GDP (percent change)

6.8

4.8

1.7

3.1

2.5

2.2

2.5

Contribution

Domestic demand

6.7

6.0

3.7

3.9

2.8

1.4

2.3

Private consumption

3.8

5.2

2.6

3.0

2.1

3.1

2.0

Government consumption

0.3

0.2

0.3

0.3

0.3

0.3

0.3

Gross fixed capital formation

1.7

2.2

1.6

0.6

0.0

-0.9

-0.3

Inventories

0.9

-1.7

-0.8

0.0

0.5

-1.0

0.3

Net exports

0.2

-1.3

-2.0

-0.9

-0.3

0.8

0.2

Inflation (percent change)

Consumer prices

2.4

5.3

4.1

4.3

4.4

2.7

2.9

GDP deflator

0.3

3.9

3.5

1.9

2.9

3.7

2.3

Employment (percent change)

0.2

2.9

2.4

1.8

0.6

0.7

0.7

Unemployment rate (percent, period average)

4.3

3.4

3.3

3.4

3.3

3.2

3.1

Real wages (percent change)

-0.4

2.7

1.6

0.1

-2.4

…

…

Government budget (percent of fiscal year GDP)

Revenue

21.2

22.6

21.7

21.3

21.2

22.0

22.1

Expenditure

17.0

18.8

18.5

20.3

17.6

18.5

19.4

Consolidated budget balance

4.2

3.8

3.2

1.0

3.7

3.5

2.7

Fiscal reserves as of March 31

33.5

34.6

36.0

35.3

36.7

38.3

39.2

Money and credit (percent change, end-period)

Narrow money (M1)

12.8

10.8

22.2

9.7

13.1

…

…

Broad money (M3)

8.0

12.9

11.0

12.4

9.6

…

…

Loans for use in Hong Kong SAR (not including trade financing)

20.9

12.5

7.0

10.6

13.5

…

…

Interest rates (percent, end-period)

Best lending rate

5.0

5.0

5.0

5.0

5.0

…

…

Three-month HIBOR

0.3

0.5

0.3

0.3

0.3

…

…

Asset prices

Hang Seng stock index (end of period, 1964=100)

23,035

18,434

22,657

23,306

23,605

…

…

Hang Seng stock index (percent change)

5.3

-20.0

22.9

2.9

1.3

…

…

Residential property prices (end of period, percent change)

21.0

11.1

25.7

7.7

13.5

…

…

Merchandise trade (percent change)

Export volume

17.3

3.5

1.9

6.5

0.8

-2.6

0.2

    Domestic exports

-0.1

-0.6

10.1

-1.6

2.3

-0.9

0.2

    Re-exports

17.9

3.6

1.7

6.8

0.8

-2.7

0.2

Import volume

18.1

4.7

3.0

7.2

0.9

-3.4

-0.6

Current account balance (percent of GDP) 1/

7.0

5.6

1.6

1.5

1.9

2.5

2.7

Foreign exchange reserves 1/

In billions of U.S. dollars, end-of-period

257.1

269.9

300.5

311.1

328.5

…

…

In months of retained imports

27.5

24.6

26.5

26.3

26.3

…

…

In percent of broad money (M3)

27.9

26.0

26.0

23.9

23.1

…

…

Exchange rate

Linked rate (fixed)   

Market rate (HK$/US$1, period average)

7.769

7.783

7.755

7.756

7.754

…

…

Real effective rate (period average, 2010=100)

100.0

96.6

98.7

102.2

105.7

…

…

Sources: CEIC; and IMF staff estimates.

1/ Data published using the Balance of Payments Statistics Manual 6 (BPM6) format.