GDP expands by 2.5% in 2024

Value added in all service activities taken together increased by 2.2% in 2024.

Hong Kong’s gross domestic product (GDP) grew by 2.5% in 2024, and by 2.4% in the fourth quarter of the year (Q4 2024), according to the Census and Statistics Department's (C&SD) preliminary figures.

Value added in respect of all the service activities taken together increased by 1.9% in real terms in Q4 2024. For 2024, value added increased by 2.2% in real terms.

Value added in the import and export, wholesale, and retail trade sectors decreased by 0.6% in Q4 2024, whilst value added in this sector recorded a marginal increase of 0.1% in real terms in 2024 as a whole.

Value added in the accommodation and food services sector increased by 1.4% in Q4 2024. For 2024, value added in this sector decreased by 2.1% in real terms.

Value added in the transportation, storage, postal, and courier services sector increased by 6.2% in real terms in Q4 2024. For 2024 as a whole, value added in this sector recorded an increase of 10.4% in real terms.

Moreover, value added in the information and communications sector increased by 1.3% in real terms in Q4 2024, whilst value added in this sector rose by 2.1% in real terms in 2024 as a whole.

Value added in the financing and insurance sector increased by 2% in real terms in Q4 2024. For 2024 as a whole, the value added in this sector increased by 0.8% in real terms.

Value added in the real estate, professional, and business services sectors registered an increase of 1.2% in real terms in Q4 2024. For 2024 as a whole, value added in this sector increased by 1.3% in real terms.

Value added in the public administration, social, and personal services sectors rose by 2.4% in real terms in Q4 2024. For 2024 as a whole, value added in this sector rose by 2.7% in real terms.

As for sectors other than the services sectors, value added in the local manufacturing sector increased by 1% in real terms in Q4 2024. For 2024 as a whole, value added in this sector rose by 0.8% in real terms.

Value added in the electricity, gas and water supply, and waste management sectors increased by 3.3% in real terms in Q4 2024, whilst value added in this sector registered an increase of 2.9% in real terms in 2024 as a whole.

Lastly, value added in the construction sector decreased by 5.6% in real terms in Q4 2024. For 2024 as a whole, value added in this sector increased by 4.1% in real terms.