HONG KONG MONETARY AUTHORITY Annual Report 1996
TABLE 1: MAJOR ECONOMIC INDICATORS
1992 | 1993 | 1994 | 1995 | 1996 | 1997 | (a) | |||
---|---|---|---|---|---|---|---|---|---|
I. | GROSS DOMESTIC PRODUCT | ||||||||
Real GDP growth (%) | 6.3 | 6.1 | 5.4 | 4.7 | 4.7 | (b) | 5.5 | ||
Nominal GDP growth (%) | 16.6 | 15.2 | 12.6 | 7.3 | 10.2 | (b) | 12.8 | ||
Real growth of major expenditure | |||||||||
components of GDP (%) | |||||||||
- Private consumption |
|||||||||
expenditure |
8.5 | 7.5 | 6.7 | 0.8 | 4.4 | (b) | 5.5 | ||
- Government consumption |
|||||||||
expenditure |
7.2 | 2.2 | 3.9 | 4.4 | 4.6 | (b) | 5.0 | ||
- Gross domestic fixed |
|||||||||
capital formation, |
9.2 | 3.7 | 15.7 | 9.6 | 11.1 | (b) | 7.4 | ||
of which |
|||||||||
- Construction |
0.0 | 11.5 | 18.4 | 1.8 | 5.6 | (b) | 5.8 | ||
- Machinery and equipment |
21.4 | 2.7 | 17.7 | 25.1 | 13.5 | (b) | 7.6 | ||
- Exports |
18.3 | 12.7 | 9.8 | 11.9 | 5.0 | (b) | 8.4 | ||
- Imports |
20.8 | 12.0 | 13.5 | 13.0 | 4.1 | (b) | 8.7 | ||
GDP at current market price | |||||||||
(US$ billion) | 100.7 | 116.0 | 130.8 | 140.2 | 154.6 | (b) | 172.9 | ||
Per capita GDP at current | |||||||||
market price (US$) | 17,357 | 19,660 | 21,674 | 22,774 | 24,500 | (b) | 26,600 | ||
II. | EXTERNAL TRADE (HK$ billion) | ||||||||
Merchandise trade | |||||||||
Domestic exports of goods |
234.1 | 223.0 | 222.1 | 231.7 | 212.2 | (b) | 214.0 | ||
Re-exports of goods |
690.8 | 823.2 | 947.9 | 1,112.5 | 1,185.8 | (b) | 1,315.3 | ||
Total Imports of goods (c) |
958.5 | 1,075.7 | 1,254.4 | 1,495.7 | 1,539.9 | (b) | 1,687.3 | ||
Merchandise trade balance (c) |
-33.5 | -29.5 | -84.4 | -151.6 | -141.9 | (b) | -158.0 | ||
Services trade | |||||||||
Exports of services |
189.4 | 215.6 | 240.7 | 279.3 | 302.9 | (b) | 342.5 | ||
Imports of services |
114.2 | 123.0 | 144.1 | 165.9 | 172.8 | (b) | 188.7 | ||
Services trade balance |
75.1 | 92.6 | 96.6 | 113.3 | 130.0 | (b) | 153.8 | ||
III. | FISCAL EXPENDITURE AND REVENUE | ||||||||
(HK$million, fiscal year) | |||||||||
Total government expenditure (d) | 113,332 | 147,438 | 164,155 | 183,158 | 187,164 | (b) | 203,062 | ||
Total government revenue (e) | 135,311 | 166,602 | 174,998 | 180,045 | 202,276 | (b) | 234,739 | ||
Consolidated cash surplus | 21,979 | 19,164 | 10,843 | -3,113 | 15,112 | (b) | 31,677 | ||
Reserve balance as at end of | |||||||||
fiscal year |
121,032 | 140,196 | 151,040 | 147,927 | 163,039 | (b) | 359,316 | (f) | |
IV. | PRICES (annual change, %) | ||||||||
Consumer Price Index (A)** | 9.4 | 8.5 | 8.1 | 8.7 | 6.0 | 7.0 | |||
Composite Consumer Price | |||||||||
Index** |
9.6 | 8.8 | 8.8 | 9.1 | 6.3 | n.a. | |||
Trade Unit Value Indices | |||||||||
- Domestic exports |
1.0 | 0.3 | 1.6 | 2.4 | 0.3 | n.a. | |||
- Re-exports |
0.8 | -0.6 | 1.5 | 3.5 | -0.5 | n.a. | |||
- Imports |
0.2 | -0.6 | 2.8 | 5.0 | -1.3 | n.a. | |||
Property Price Indices | |||||||||
- Residential flats |
41 | 10 | 23 | -7 | 9 | (b) | n.a. | ||
- Office premises |
37 | 20 | 39 | -15 | -3 | (b) | n.a. | ||
- Retail premises |
40 | 22 | 17 | -3 | 0 | (b) | n.a. | ||
- Flatted factory premises |
29 | 20 | 6 | -12 | -14 | (b) | n.a. | ||
n.a. : not available | |||||||||
Figures set out in Tables 1 to 15 may not add up due to rounding.