Hong Kong: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| Hong Kong |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -2.50 |
| Year | 2024 |
| Measure | percent |
| Data availability | 1997 - 2024 |
| Average | 0.63 |
| Min - Max | -8.70 - 7.50 |
| Source | Financial Secretary of Hong Kong |
The latest value from 2024 is -2.5 percent, an increase from -3.4 percent in 2023. In comparison, the world average is -4.03 percent, based on data from 5 countries. Historically, the average for Hong Kong from 1997 to 2024 is 0.63 percent. The minimum value, -8.7 percent, was reached in 2020 while the maximum of 7.5 percent was recorded in 2007.
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Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 13.23 | 2023 | percent |
| Government spending, in dollars | 50.51 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -2.50 | 2024 | percent |
| Government debt | 9.01 | 2024 | percent |
| Government expenditure | 112.23 | Q1/2025 | billion |
| Commercial tax rate | 21.90 | 2019 | percent |
| Tax preparation time | 35 | 2019 | hours |
| Number of taxes | 3 | 2019 | taxes |
| Foreign aid | 6.95 | 2004 | million U.S. dollars |