Economy
Hong Kong crashes into recession in 2019
This was dragged by GDP contractions recorded in H2 2019.
Exports dipped 4.1% to $3.99t in 2019
This was attributed to a 15.7% rise in exports to Mainland China.
Inflation up 2.9% in 2019
Mild price hikes on imports and economic conditions will contain inflation in the near-term.
Hong Kong's global finance centre status weathers protests' effects
But its perception as a stable international hub is slowly deteriorating amongst foreigners.
Unemployment rate edged up to 3.2% in September-November
The unemployment rate in F&B service activities sector reached an eight-year high.
Poverty rate rises to 20.4% in 2019
This was blamed on the accelerating number of ageing citizens.
GDP down 0.5% in Q3
This amounts to $722.8b, whilst GNY fell to $764.1b.
Exports to Mainland down 9.2% to $150.6b in Q3
This accounts for 25.6% of the total exports.
Check out the brands hit hardest Hong Kong's social unrest
Xiaomi is one of the hardest hit brands as its metric scores fell.
Accommodation industry's business receipts fell 19.1% in Q3
Business receipts declined across nine industries.
1 in 20 firms fully disclosed environmental targets in 2019
The percentage of firms who have set goals for ESG declined to 15%.
Spooked investors back long-term debt as default and recession risks rise
Approximately $3.2t in Chinese debt is poised to mature by 2023, spelling trouble for Hong Kong.
Exports fell 9.2% to $348.5b in October
The city recorded a trade deficit of $30.6b or 8.1% of imports.
Inflation slows to 3.1% in October
Food products rose sharply at 13.3% due to elevated pork prices.
Real GDP forecast revised down to -1.3% for 2019
Revised GDP figures revealed that the economy contracted 2.9% in Q3.
Two-thirds of accountants expect recession spill-over into 2020
2 in 5 expect GDP to decline by over 1%.
Export volumes contract 7.8% in September
This marks the seventh straight month of decline.
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