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Robust growth in 2011, but concerns about asset price bubbles remain
- This year GDP growth will be 5.2%, supported mainly by private consumption and exports
- Inflation is increasing above 4%, due in the main to higher food prices and expected rent/housing increases
- A loose monetary policy, tight housing supply and an influx of Chinese buyers have led to sharply rising property prices rises
- However, strong measures have been taken so far and it is expected that the government will introduce further cooling measures if needed
- Payment behaviour is generally good .
Real GDP growth (%)
Source: EIU/IMF
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General Information
Government type - Limited democracy
Currency - Hong Kong dollar (HKD)
Population - 7.1 million
Status - High Income country (GDP/capita: US$ 33,591 in 2011)
Main import sources (2010, % of total)
- China - 45.5%
- Japan - 9.2%
- Singapore - 7.1%
- Taiwan - 6.7%
Main export markets (2010, % of total)
- China - 52.7%
- USA - 11.0%
- Japan - 4.2%
- Germany - 2.7%
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Date May 2011
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