Hong Kong SAR, China Consolidated Fiscal Balance: % of GDP

1997 - 2025 | Quarterly | % | CEIC Data

Key information about Hong Kong SAR (China) Consolidated Fiscal Balance: % of GDP

  • Hong Kong SAR (China) Consolidated Fiscal Balance registered a surplus equal to 1.0 % of its Nominal GDP in Dec 2025, compared with a surplus equal to 1.3 % in the previous quarter
  • Hong Kong SAR (China) Consolidated Fiscal Balance to GDP data is updated quarterly, available from Mar 1997 to Dec 2025, with an average ratio of 4.1 %
  • The data reached an all-time high of 8.4 % in Dec 2007 and a record low of -8.6 % in Dec 2020
CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from monthly Consolidated Fiscal Balance and quarterly Nominal GDP. The Treasury provides Consolidated Fiscal Balance in local currency. Census and Statistics Department provides Nominal GDP in local currency. Consolidated Fiscal Balance as % of Nominal GDP prior to Q2 2015 is calculated from quarterly Consolidated Fiscal Balance.


Further information about Hong Kong SAR (China) Consolidated Fiscal Balance: % of GDP

  • In the latest reports, Hong Kong SAR (China) National Government Debt reached 190.8 USD bn in Mar 2025
  • Hong Kong SAR (China) Nominal GDP reached 109.2 USD bn in Sep 2025

View Hong Kong SAR, China's Consolidated Fiscal Balance: % of GDP from Mar 1997 to Dec 2025 in the chart:

Hong Kong SAR, China Consolidated Fiscal Balance: % of GDP

What was Hong Kong SAR, China's Consolidated Fiscal Balance: % of GDP in Dec 2025?

Hong Kong SAR (China) Consolidated Fiscal Balance registered a surplus equal to 1.0 % of its Nominal GDP in Dec 2025, compared with a surplus equal to 1.3 % in the previous quarter See the table below for more data.

Last Previous Min Max Unit Frequency Range
1.0 Dec 2025 1.3 Sep 2025 -8.6 Dec 2020 8.4 Dec 2007 % quarterly Mar 1997 - Dec 2025

Consolidated Fiscal Balance: % of GDP by Country Comparison

country/region Last Frequency Range
Albania (%) -1.8 2025 yearly 1997 - 2025
Algeria (%) -2.6 2022 yearly 1994 - 2022
Argentina (%) 0.2 Dec 2025 quarterly Dec 2004 - Dec 2025
Armenia (%) -3.5 Dec 2025 quarterly Dec 2002 - Dec 2025
Australia (%) -3.1 Dec 2025 quarterly Jun 2003 - Dec 2025
Austria (%) -4.2 Dec 2025 quarterly Dec 2001 - Dec 2025
Azerbaijan (%) 0.4 Jun 2021 monthly Dec 2004 - Jun 2021
Bahrain (%) -4.8 2023 yearly 1998 - 2023
Bangladesh (%) -3.4 2025 yearly 2006 - 2025
Belarus (%) -0.4 Sep 2021 quarterly Sep 2006 - Sep 2021
Belgium (%) -4.4 2024 yearly 1970 - 2024
Bolivia (%) -11.2 2024 yearly 1990 - 2024
Bosnia and Herzegovina (%) 3.5 Dec 2025 quarterly Dec 2008 - Dec 2025
Botswana (%) -2.7 Dec 2025 quarterly Mar 2004 - Dec 2025
Brazil (%) -8.1 Mar 2026 quarterly Dec 1997 - Mar 2026
Brunei (%) -13.3 2024 yearly 1974 - 2024
Bulgaria (%) -3.0 Dec 2025 quarterly Sep 2003 - Dec 2025
Cambodia (%) -4.1 2023 yearly 2007 - 2023
Canada (%) -1.4 Dec 2025 quarterly Jun 1993 - Dec 2025
Chile (%) -2.8 2024 yearly 1990 - 2024
China (%) -5.1 Mar 2026 quarterly Dec 1995 - Mar 2026
Colombia (%) -8.7 Sep 2025 quarterly Dec 2000 - Sep 2025
Croatia (%) -2.4 2024 yearly 2002 - 2024
Cyprus (%) 3.4 Dec 2025 quarterly Dec 1995 - Dec 2025
Czech Republic (%) -2.1 Dec 2025 quarterly Dec 1999 - Dec 2025
Denmark (%) 2.9 Dec 2025 quarterly Dec 1999 - Dec 2025
Ecuador (%) -2.9 Dec 2025 quarterly Dec 2000 - Dec 2025
Estonia (%) -1.2 Dec 2025 quarterly Dec 1999 - Dec 2025
European Union (%) -3.1 2025 yearly 1995 - 2025
Finland (%) -3.4 Dec 2025 quarterly Dec 1999 - Dec 2025
France (%) -5.1 Dec 2025 quarterly Dec 1949 - Dec 2025
Georgia (%) -1.2 Dec 2025 quarterly Dec 2006 - Dec 2025
Germany (%) -2.7 Dec 2025 quarterly Dec 1991 - Dec 2025
Ghana (%) -0.6 Dec 2025 quarterly Dec 2008 - Dec 2025
Greece (%) -1.3 Dec 2018 monthly Apr 1999 - Dec 2018
Hong Kong SAR, China (%) 1.0 Dec 2025 quarterly Mar 1997 - Dec 2025
Hungary (%) -4.7 Dec 2025 quarterly Dec 1999 - Dec 2025
Iceland (%) -4.2 Dec 2025 quarterly Mar 2002 - Dec 2025
India (%) -4.5 Dec 2025 quarterly Mar 2005 - Dec 2025
Indonesia (%) -3.4 Mar 2026 quarterly Dec 2014 - Mar 2026
Iran (%) -3.4 Mar 2021 quarterly Mar 2006 - Mar 2021
Ireland (%) 1.8 Dec 2025 quarterly Dec 2000 - Dec 2025
Israel (%) -4.7 Dec 2025 quarterly Dec 1999 - Dec 2025
Italy (%) -3.1 Dec 2025 quarterly Dec 1999 - Dec 2025
Ivory Coast (%) -4.0 2024 yearly 1960 - 2024
Japan (%) -4.6 2026 yearly 1996 - 2026
Jordan (%) 1.0 2018 yearly 1999 - 2018
Kazakhstan (%) 0.7 Mar 2026 quarterly Dec 2008 - Mar 2026
Kenya (%) -6.0 Sep 2025 quarterly Dec 2009 - Sep 2025
South Korea (%) -1.8 Dec 2025 quarterly Jun 2000 - Dec 2025
Kosovo (%) 0.2 Sep 2023 quarterly Dec 2010 - Sep 2023
Kuwait (%) -2.1 2024 yearly 1988 - 2024
Kyrgyzstan (%) 19.2 Jan 2026 monthly Jan 2007 - Jan 2026
Laos (%) 2.3 2024 yearly 2012 - 2024
Latvia (%) -2.5 Dec 2025 quarterly Dec 1999 - Dec 2025
Lebanon (%) 0.9 2021 yearly 1992 - 2021
Lithuania (%) -1.8 Dec 2025 quarterly Dec 1999 - Dec 2025
Luxembourg (%) -2.0 2025 yearly 1995 - 2025
Macau SAR, China (%) 7.9 Jun 2025 quarterly Dec 2003 - Jun 2025
North Macedonia (%) -4.6 2024 yearly 1993 - 2024
Malawi (%) -1.3 Sep 2025 monthly Apr 2005 - Sep 2025
Malaysia (%) -6.4 2024 yearly 1970 - 2024
Malta (%) -2.2 Dec 2025 quarterly Dec 1999 - Dec 2025
Mauritius (%) -7.8 Dec 2025 quarterly Dec 2010 - Dec 2025
Mexico (%) -3.8 Dec 2025 quarterly Dec 1980 - Dec 2025
Moldova (%) -3.9 2024 yearly 1998 - 2024
Mongolia (%) -1.4 Dec 2025 quarterly Dec 2000 - Dec 2025
Montenegro (%) -3.8 Dec 2025 quarterly Dec 2012 - Dec 2025
Morocco (%) -3.9 2024 yearly 1980 - 2024
Mozambique (%) -2.7 2016 yearly 1996 - 2016
Myanmar (%) -2.8 2023 yearly 1986 - 2023
Nepal (%) -10.0 2018 yearly 2012 - 2018
Netherlands (%) -1.4 Jun 2025 quarterly Dec 1999 - Jun 2025
New Zealand (%) -1.2 Dec 2025 quarterly Dec 1999 - Dec 2025
Nigeria (%) -4.0 Dec 2024 quarterly Dec 2010 - Dec 2024
Norway (%) 10.4 Dec 2025 quarterly Dec 2002 - Dec 2025
Oman (%) 2.3 Sep 2023 quarterly Dec 2005 - Sep 2023
Pakistan (%) -2.6 2025 yearly 2000 - 2025
Palestinian Territory (%) 1.2 2024 yearly 2010 - 2024
Panama (%) -3.7 2025 yearly 2003 - 2025
Paraguay (%) -0.4 Dec 2025 quarterly Dec 2003 - Dec 2025
Peru (%) -2.4 Dec 2025 quarterly Dec 1990 - Dec 2025
Philippines (%) -5.2 Mar 2026 quarterly Dec 1985 - Mar 2026
Poland (%) -7.3 2025 yearly 1995 - 2025
Portugal (%) 0.7 Dec 2025 quarterly Dec 1995 - Dec 2025
Qatar (%) -2.7 Dec 2025 quarterly Mar 2011 - Dec 2025
Romania (%) -7.6 Dec 2025 quarterly Dec 2004 - Dec 2025
Russia (%) -3.9 Dec 2025 quarterly Dec 1993 - Dec 2025
Saudi Arabia (%) -2.8 2024 yearly 1969 - 2024
Serbia (%) -2.4 Dec 2025 quarterly Dec 2005 - Dec 2025
Singapore (%) 3.0 Dec 2025 quarterly Mar 2012 - Dec 2025
Slovakia (%) -6.2 2020 yearly 1995 - 2020
Slovenia (%) -2.5 Dec 2025 quarterly Dec 2000 - Dec 2025
South Africa (%) -3.5 Dec 2025 quarterly Dec 1990 - Dec 2025
Spain (%) -2.4 Dec 2025 quarterly Dec 1995 - Dec 2025
Sri Lanka (%) -2.3 Dec 2025 quarterly Dec 2014 - Dec 2025
Sudan (%) -0.6 2021 yearly 2001 - 2021
Sweden (%) -1.3 2025 yearly 1995 - 2025
Switzerland (%) 0.5 2025 yearly 1990 - 2025

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Hong Kong SAR, China Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) 1.0 Dec 2025 quarterly Mar 1997 - Dec 2025
Consolidated Fiscal Balance (USD mn) -7,782.057 Mar 2026 monthly Oct 1998 - Mar 2026
Tax Revenue (USD mn) 28,775.452 Dec 2025 quarterly Sep 1979 - Dec 2025
Tax Revenue: % of GDP (%) 25.4 Dec 2025 quarterly Sep 1979 - Dec 2025
National Government Debt (USD mn) 190,786.0 2025 yearly 2003 - 2025
Government Debt: % of GDP (%) 46.1 2025 yearly 2003 - 2025
Forecast: Government Expenditure (HKD bn) 948.778 2032 yearly 1982 - 2032
Forecast: Government Net Debt (HKD bn) 885.007 2032 yearly 2005 - 2032
Forecast: Government Revenue (HKD bn) 915.226 2032 yearly 1982 - 2032
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 2.665 2031 yearly 1980 - 2031
Trade Balance (USD mn) -11,381.9 Mar 2026 monthly Jan 1957 - Mar 2026
Total Exports (USD mn) 79,010.6 Mar 2026 monthly Jan 1957 - Mar 2026
Total Exports Growth (%) 35.8 Mar 2026 monthly Jan 1953 - Mar 2026
Aluminum: Exports (USD th) 177,416.639 2024 yearly 1995 - 2024
Exports: Medicament (USD th) 1,714,519.261 2024 yearly 1995 - 2024
Exports: Medicinal and Pharmaceutical Product (USD th) 346,742.409 2024 yearly 1995 - 2024
Total Imports (USD mn) 90,392.5 Mar 2026 monthly Jan 1957 - Mar 2026
Total Imports Growth (%) 41.2 Mar 2026 monthly Jan 1953 - Mar 2026
Imports: Medicament (USD th) 2,887,691.952 2024 yearly 1995 - 2024
Imports: Medicinal and Pharmaceutical Product (USD th) 917,283.629 2024 yearly 1995 - 2024
Total Exports to USA (USD mn) 5,824.314 Mar 2026 monthly Apr 1964 - Mar 2026
Total Imports from USA (USD mn) 4,351.243 Mar 2026 monthly Apr 1964 - Mar 2026
Total Exports to China (USD mn) 50,219.574 Mar 2026 monthly Apr 1964 - Mar 2026
Total Imports from China (USD mn) 38,541.753 Mar 2026 monthly Apr 1964 - Mar 2026
Imports Value Index: sa (2016=100) 117.00 Feb 2018 monthly Jan 2002 - Feb 2018
Total Exports Value Index: sa (2016=100) 113.40 Feb 2018 monthly Jan 2002 - Feb 2018
Total Exports Quantum Index (2016=100) 79.20 Feb 2018 monthly Jan 1982 - Feb 2018
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 11,913.9 Dec 2025 quarterly Mar 1999 - Dec 2025
Current Account Balance (USD mn) 12,214.7 Dec 2025 quarterly Mar 1999 - Dec 2025
Current Account Balance: % of GDP (%) 10.6 Dec 2025 quarterly Mar 1999 - Dec 2025
Foreign Direct Investment (USD mn) 26,742.9 Dec 2025 quarterly Mar 1999 - Dec 2025
Foreign Direct Investment: % of GDP (%) 23.6 Dec 2025 quarterly Mar 1999 - Dec 2025
Foreign Portfolio Investment (USD mn) 8,113.077 Dec 2025 quarterly Mar 1999 - Dec 2025
Foreign Portfolio Investment: % of GDP (%) 7.2 Dec 2025 quarterly Mar 1999 - Dec 2025
Foreign Portfolio Investment: Equity Securities (USD mn) 676.8 Dec 2025 quarterly Mar 1999 - Dec 2025
Foreign Portfolio Investment: Debt Securities (USD mn) 7,436.259 Dec 2025 quarterly Mar 1999 - Dec 2025
External Debt (USD mn) 2,062,658.4 Dec 2025 quarterly Mar 2001 - Dec 2025
External Debt: % of GDP (%) 481.9 2025 yearly 2001 - 2025
External Debt: Short Term (USD mn) 1,237,819.8 Dec 2025 quarterly Mar 2001 - Dec 2025
External Debt: Short Term: % of GDP (%) 289.2 2025 yearly 2001 - 2025
Forecast: Current Account Balance (USD bn) 64.227 2031 yearly 1980 - 2031
Net International Investment Position (USD mn) 2,506,615.960 Dec 2025 quarterly Mar 2010 - Dec 2025
BoP: FA: Portfolio Investment (PI) (HKD mn) 83,884.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: Goods: Debit (HKD mn) 1,635,055.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: DI: Assets (AS) (HKD mn) 92,661.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: PInc: Debit (HKD mn) 430,237.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: Net Errors and Omissions (HKD mn) 39,021.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: Goods (HKD mn) -32,458.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: Capital Account (HKD mn) -268.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: Current Account (CA) (HKD mn) 93,872.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CFA: Reserve Assets (HKD mn) 46,475.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: Secondary Income (SInc) (HKD mn) -4,791.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: Current Account: Credit (HKD mn) 2,366,632.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: Overall Balance (HKD mn) 46,475.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: Financial Derivatives (FD) (HKD mn) 2,073.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: PInc: Credit (HKD mn) 523,493.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: Other investment (OI) (HKD mn) 115,527.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: FD: Liabilities (HKD mn) -130,665.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: Current Account: Debit (HKD mn) 2,272,760.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: Direct Investment (DI) (HKD mn) -115,334.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: Capital Account: Debit (HKD mn) 271.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: FD: Assets (HKD mn) -128,592.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: OI: Assets (HKD mn) 437,300.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: Services: Credit (HKD mn) 233,452.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: SInc: Debit (HKD mn) 11,881.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: OI: Liabilities (HKD mn) 321,773.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: Services: Debit (HKD mn) 195,587.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: Capital Account: Credit (HKD mn) 3.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: PI: Liabilities (LB) (HKD mn) 63,100.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: Financial Account (FA) (HKD mn) 132,625.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: Services (HKD mn) 37,865.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: DI: Liabilities (LB) (HKD mn) 207,995.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: SInc: Credit (HKD mn) 7,090.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: FA: PI: Assets (AS) (HKD mn) 146,985.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: Primary Income (PInc) (HKD mn) 93,256.000 Dec 2025 quarterly Mar 1999 - Dec 2025
BoP: CA: Goods: Credit (HKD mn) 1,602,597.000 Dec 2025 quarterly Mar 1999 - Dec 2025
External Debt (ED): Total (HKD mn) 16,054,289.000 Dec 2025 quarterly Mar 2002 - Dec 2025
International Investment Position (IIP): Assets (HKD mn) 60,122,806.000 Dec 2025 quarterly Mar 2010 - Dec 2025
IIP: Net (HKD mn) 19,509,744.000 Dec 2025 quarterly Mar 2010 - Dec 2025
IIP: Liabilities (HKD mn) 40,613,062.000 Dec 2025 quarterly Mar 2010 - Dec 2025
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 2.1 Mar 2026 quarterly Mar 1997 - Mar 2026
Household Debt: % of GDP (%) 87.6 Dec 2025 quarterly Mar 1982 - Dec 2025
Money Supply M1 (USD mn) 237,220.283 Mar 2026 monthly Jan 1985 - Mar 2026
Money Supply M2 (USD mn) 2,655,578.187 Mar 2026 monthly Dec 1980 - Mar 2026
M2 Growth (%) 9.3 Mar 2026 monthly Dec 1981 - Mar 2026
Foreign Exchange Reserves (USD mn) 430,477.0 Mar 2026 monthly Apr 2000 - Mar 2026
Foreign Exchange Reserves: % of GDP (%) 99.609 Mar 2026 quarterly Jun 2000 - Mar 2026
Foreign Exchange Reserves: Months of Import (NA) 6.6 Oct 2025 monthly Apr 2000 - Oct 2025
Gold Reserves (USD mn) 312.000 Mar 2026 monthly Dec 1990 - Mar 2026
Total Deposits (USD mn) 2,502,211.258 Mar 2026 monthly Jan 1991 - Mar 2026
Total Deposits Growth (%) 9.1 Mar 2026 monthly Jan 1992 - Mar 2026
Domestic Credit (USD mn) 1,074,992.6 Jan 2026 monthly Dec 1990 - Jan 2026
Domestic Credit Growth (%) 7.2 Jan 2026 monthly Dec 1991 - Jan 2026
Debt Service Ratio: Private Non-Financial Sector (%) 34.000 Sep 2025 quarterly Mar 1999 - Sep 2025
Credit to Households (USD bn) 370.111 Sep 2025 quarterly Dec 1990 - Sep 2025
Credit to Private Non-Financial Sector (USD bn) 1,403.261 Sep 2025 quarterly Dec 1978 - Sep 2025
Household Debt (USD mn) 381,945.7 Mar 2026 quarterly Mar 1982 - Mar 2026
Total Loans (USD mn) 1,331,668.122 Mar 2026 monthly Dec 1978 - Mar 2026
Total Loans Growth (%) 4.70 Mar 2026 monthly Dec 1979 - Mar 2026
Private Debt: % of Nominal GDP (%) 188.87 Mar 2026 quarterly Dec 1973 - Mar 2026
Deposits: Renminbi: Total Outstandings (RMB mn) 554,316.75 Mar 2018 monthly Feb 2004 - Mar 2018
HK: Loans & Advances: Total (HKD mn) 9,652,390.44 Mar 2018 monthly Dec 1978 - Mar 2018
HK: Residential Mortgage: Value: Outstanding Loans (OL) (HKD mn) 1,228,442.00 Mar 2018 monthly Dec 2000 - Mar 2018
HK: Residential Mortgage: Value: New Loans Made (HKD mn) 29,750.00 Mar 2018 monthly Dec 2000 - Mar 2018
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 4.0 Jun 2026 quarterly Mar 2009 - Jun 2026
BTS: Expected Changes: Business Situation (BS): sa (%) -5.000 Jun 2026 quarterly Mar 2008 - Jun 2026
BTS: Expected Changes: BS: sa: Retail (%) -3.000 Jun 2026 quarterly Mar 2008 - Jun 2026

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