Chart 2
3
The Economy
Gross Domestic Product
Index (1995 = 100)
250
Real GDP (left scale)
Per capita GDP at current market prices (right scale)
200
150
100
US$
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
50
1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015
Over the past two decades, the Hong Kong economy grew an average of 3.4 per cent in real terms, consistently faster than most high-income economies.
The stock of direct investment liabilities in Hong Kong was enormous, at $12,715 billion in market value at the end of 2014, equivalent to 564 per cent of GDP. It served as another vivid manifestation of Hong Kong's increasing international focus. The territory is among the most preferred destinations for inward direct investment, ranked second in the world after only the Mainland by the United Nations' World Investment Report 2015.
The corresponding figures for Hong Kong's stock of direct investment assets were likewise. huge, at $12,359 billion, or 548 per cent of GDP. As an international financial centre with huge cross-territory fund flows, Hong Kong's external financial assets and liabilities were also substantial, at $33,436 billion and $25,848 billion respectively at the end of 2015. The corresponding ratios to GDP in 2015 were 1,392 per cent and 1,076 per cent. Reflecting Hong Kong's robust international investment position, its net external financial assets amounted to $7,588 billion at the end of 2015, equivalent to 316 per cent of GDP.
The Gross National Income (GNI), comprising GDP and net external primary income flow, stood at $2,442 billion in 2015. This was higher than the corresponding GDP by 2 per cent. The difference represented a net inflow of external primary income. In gross terms, inflows and outflows of external primary income remained substantial in 2015, at $1,272 billion and $1,232 billion respectively, equivalent to 53 per cent and 51 per cent of GDP respectively. This was attributable to the huge volumes of Hong Kong's inward and outward investment.
Contributions of Various Economic Sectors
Primary production, including agriculture, fisheries, mining and quarrying, is insignificant in terms of both value-added contribution to GDP and share in total employment, as Hong Kong is a predominantly city economy.
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