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"Overall for 2023, GDP grew by 3.2% in real terms compared to 2022," the institution stated. A year before, the GDP had contracted by 3.5% at the same time. As a result, Hong Kong was still unable to reach the levels of 2021 at the end of last year.
Overall, Hong Kong's private consumer expenditure increased by 7.4% in real terms this year over 2022, while government spending fell by 4.3%. In real terms, gross domestic fixed capital formation grew by 10.6% in 2023 over 2022.
Simultaneously, overall goods imports and exports decreased by 8.5% and 10.3%, respectively, in the last year compared to 2022. In real terms, services imports and exports rose by 26.0% and 21.2%, respectively, over this period.
source: ft.com
Overall, Hong Kong's private consumer expenditure increased by 7.4% in real terms this year over 2022, while government spending fell by 4.3%. In real terms, gross domestic fixed capital formation grew by 10.6% in 2023 over 2022.
Simultaneously, overall goods imports and exports decreased by 8.5% and 10.3%, respectively, in the last year compared to 2022. In real terms, services imports and exports rose by 26.0% and 21.2%, respectively, over this period.
source: ft.com