Click here to know more about our subscription packages.
Want to commission a custom market research to suit your needs? We are here to help. Let us know.
Hong Kong Snapshot - PESTLE, SWOT, Risk and Macroeconomic Analysis report is designed to provide in-depth information about Hong Kong including it’s PESTLE (political, economic, social, technological, legal and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and country risk analysis backed by macroeconomic data.
Hong Kong is a Special Administrative Region (SAR) of the People's Republic of China. Its status is defined by the basic law (adopted in 1990 by the National People's Assembly of China), which serves as the "constitution" of the Territory, and which confers its scope to the "one country, two systems" principle. Hong Kong, officially and alternatively known by its initials H.K, is situated on China's south coast and enclosed by the Pearl River Delta and South China Sea.
Hong Kong is expected to have a population of 7.432 million in the year 2023 and expected to reach 7.595 million by 2027, growing at a CAGR of 0.54%.
Hong Kong’s real gross domestic product (GDP) was HKD 2,660.03 billion in 2020 and while recovering from the COVID-19 impact it increased by 6.03% to be around HKD 2,830.76 billion in 2021. It is further expected to increase by 2.76% and reach HKD 3,333.25 billion by 2027.
Hong Kong’s unemployment rate was 5.828% of total labor force in 2020. While recovering from COVID-19 pandemic the unemployment decreased by 12.60% and reached 5.176% in 2021. Unemployment is further estimated to decrease by a CAGR of 8.84% and reach 2.971% of total labor force in Hong Kong by 2027.
Hong Kong’s per capita GDP was USD 49,849.841 whereas purchasing power parity (PPP) based per capita GDP was USD 70,448.012 for the year 2022.
In 2022, Hong Kong government’s revenue was HKD 714.679 billion whereas the expenditure was HKD 808.301 billion. This resulted in Hong Kong government’s net lending / borrowing negative at HKD 93.621 billion in 2022 indicating that not enough financial resources were made available by the Hong Kong government to boost economic growth.
The current account balance for Hong Kong was positive at USD 40.381 billion for the year 2022 and is expected to decrease at a CAGR of 2.67% and reach positive USD 35.278 billion by 2027. This positive current account balance indicates that Hong Kong will remain a net lender to rest of the world till 2027.
Do you need more information about this report before making a purchase decision or wish to customize this report to suite your requirements?
If yes, then please use the form given below and we will get in touch with you immediately.
Kindly use your official email address and contact number to ensure speedy response.
View all our market research reports