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Hong Kong country overview
Before we start to discuss Hong Kong GDP, First we discuss the Hong Kong country overview, so Hong Kong is officially called the Hong Kong Special Administrative Region of the People’s Republic of China. It is a Metropolitan area. Hong Kong is located in the South China Sea.
Its official languages are Chinese and English. Its other regional language is Cantonese. When we talk about its Ethnic groups, so 92% of Han Chinese, 2.5% Filipino, 2% Indonesian, and other ethnic groups live in Hong Kong.
When we talk about its government system, so we see that the Hong Kong government system is a Devolved executive-led system with a unitary one-party socialist republic. Hong Kong’s Chief Executive name is Carrie Lam. Its Chief secretary’s name is John Lee.
Its council President’s name is Andrew Leung. Its Chief Justice name is Andrew Cheung. Hong Kong’s total area is 2,754,98 km2. Its total area rank is 168th in the world. Its total population is 7,500,800 in the year 2019.
Its population rank is 103rd in the world. Hong Kong’s population density is 6,778 /km2 which is considered the highest in the world. Its population density rank is 4th in the world.
Hong Kong Economy overview
Hong Kong’s currency name is the Hong Kong dollar. Its fiscal year is between 1 April and 31 March. Hong Kong is generally called a Developed and Advanced country and a high-income economy.
The inflation rate in Hong Kong is 2% in the year 2020. When we talk about poverty in Hong Kong, so 20% of the Hong Kong population live below the poverty line in the year 2016. In Human Development, so Hong Kong’s Human Development Index rate is 0.949 in the year 2019.
This HDI rate is considered the highest in the world. Hong Kong’s HDI rank is 4th in the world. Its total labor force is 3,946,780 in the year 2019. The unemployment rate in Hong Kong is 4.4% in the year 2020. Hong Kong’s total gross external debt is $630 billion in the year 2017. Its Foreign reserves are $430 billion in the year 2017.
Hong Kong GDP
Hong Kong’s total GDP is $368 billion (nominal) and $472 billion (PPP) in the year 2021. Its GDP growth rate is 3.8% in the year 2021. Its GDP per capita is $49,000 (nominal) and $62,000 (PPP) in the year 2021.
When we talk about its GDP by sector, agriculture: 0.1%, industry: 7.8%, and services are 92% according to year 2017.
Exports
Hong Kong’s total exports are $537 billion in the year 2017. Its main export goods are electrical, machinery, textile, toys, and others. Its main export partners are China, the United States, and others.
Imports
Its total imports are $560 billion in the year 2017. Its main import goods are fuel, food products, consumer goods, raw materials, and others. Its main import partners are China, Singapore, Japan, the United States, and others.
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