Go to main content
 
Chain volume measures of Gross Domestic Product by economic activity for the third quarter of 2022
******************************************************************************************
     The Census and Statistics Department (C&SD) released today (December 19) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for the third quarter of 2022.
 
     GDP figures by economic activity show the value of production in respect of individual economic activities. The value of production is measured by net output or value added, which is calculated by deducting intermediate input consumed in the process of production from the gross value of output. Volume measures of GDP by economic activity, expressed in terms of chain volume measures net of the effect of price changes, enable analysis of the output growth profiles of individual economic sectors in real terms.
 
     According to the preliminary figures, overall GDP decreased by 4.5% in real terms in the third quarter of 2022 from a year earlier, compared with the 1.3% decrease in the second quarter of 2022.
 
     Analysed by constituent services sector and on a year-on-year comparison, net output in respect of all the services activities taken together decreased by 3.2% in real terms in the third quarter of 2022 from a year earlier, compared with the 1.2% decrease in the second quarter. The Hong Kong economy showed a widened year-on-year contraction in the third quarter of 2022 as a result of the worsened external environment, continued disruptions to cross-boundary transportation and tightened financial conditions.
 
     Net output in the import and export, wholesale and retail trades sector dropped by 12.1% in real terms in the third quarter of 2022 from a year earlier, after the decrease of 6.7% in the second quarter.
 
     Net output in the accommodation services (covering hotels, guesthouses, boarding houses and other establishments providing short term accommodation) and food services sector decreased by 7.5% in real terms in the third quarter of 2022 from a year earlier, after the fall of 6.2% in the second quarter.
 
     Net output in the transportation, storage, postal and courier services sector decreased by 5.3% in real terms in the third quarter of 2022 from a year earlier, compared with the decrease of 3.3% in the second quarter.
 
     Net output in the financing and insurance sector decreased by 1.9% in real terms in the third quarter of 2022 from a year earlier, as against the increase of 1.6% in the second quarter.
 
     Net output in the real estate, professional and business services sector registered a decrease of 1.9% in real terms in the third quarter of 2022 from a year earlier, similar to the decline of 1.8% in the second quarter.
 
     Net output in the information and communications sector remained virtually unchanged in real terms in the third quarter of 2022 over a year earlier, compared with the growth of 1.1% in the second quarter.
 
     Net output in the public administration, social and personal services sector rose by 1.8% in real terms in the third quarter of 2022 over a year earlier, as against the decrease of 0.1% in the second quarter.
 
     As for sectors other than the services sectors, net output in the local manufacturing sector dropped by 0.6% in real terms in the third quarter of 2022 from a year earlier, as against the increase of 2.7% in the second quarter.
 
     Net output in the electricity, gas and water supply, and waste management sector decreased by 1.0% in real terms in the third quarter of 2022 from a year earlier, following the decrease of 7.2% in the second quarter.
 
     Net output in the construction sector increased by 1.9% in real terms in the third quarter of 2022 over a year earlier, compared with the 7.4% increase in the second quarter.
 
Further information
 
     The year-on-year percentage changes of GDP by economic activity in real terms from the third quarter of 2021 to the third quarter of 2022 are shown in Table 1. For enquiries about statistics on GDP by economic activity, please call the National Income Branch (2) of the C&SD at 3903 7005.
 
     Figures of chain volume measures of GDP by economic activity for the third quarter of 2022 are only preliminary at this stage. When more data become available, the preliminary figures will be revised accordingly. More detailed figures can also be found at the C&SD website (www.censtatd.gov.hk/en/scode250.html).
 
Ends/Monday, December 19, 2022
Issued at HKT 16:30
NNNN
Today's Press Releases  

Attachment

Table