Hong Kong Government Budget
General government net lending (+) / borrowing (-) as a percentage of GDP.
Government Budget in Hong Kong increased to -4.50 percent of GDP in 2025 from -5.80 percent of GDP in 2024.
Hong Kong Government Budget — History
Drag or pinch to zoom. Dashed line: IMF World Economic Outlook projection.
Hong Kong Government Budget — analysis in simple words
Latest reading
Government Budget in Hong Kong increased to -4.50 percent of GDP in 2025 from -5.80 percent of GDP in 2024.
Over the last three years it rose twice and fell once.
Recent trend
A year earlier (2024) it was -5.8%, so the latest figure is 1.3 percentage points higher.
Over the past five years the average was -4.5%, with a range from -6.6% to 0.0%. The latest value is above that five-year average.
Historical context
This data series starts in 1981 and has 45 annual observations. The latest reading is higher than 13% of all of them.
The highest value on record is 7.3% (2007) and the lowest is -9.2% (2020). The long-run average is 0.6%.
Compared with other countries
Among 193 economies with recent data, Hong Kong ranks 142nd from the top. The median across all these economies is -2.6%, so Hong Kong is below the typical country.
Within East Asia & Pacific (31 economies with data) it ranks 25th; the regional median is -1.7%.
IMF outlook
The IMF World Economic Outlook projects -4.4% in 2026 and -3.2% in 2027 for Hong Kong. Projections are forecasts, not actual data, and are revised as new information arrives.
Statistics
- Latest
- -4.5%2025
- Previous
- -5.8%
- 5-year average
- -4.5%
- Long-run average
- 0.6%since 1981
- All-time high
- 7.3%2007
- All-time low
- -9.2%2020
- Observations
- 45Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2031 IMF proj. | -0.7% | ■ 0.0 pp |
| 2030 IMF proj. | -0.7% | ■ 0.0 pp |
| 2029 IMF proj. | -0.7% | ▲ +0.6 pp |
| 2028 IMF proj. | -1.3% | ▲ +1.9 pp |
| 2027 IMF proj. | -3.2% | ▲ +1.2 pp |
| 2026 IMF proj. | -4.4% | ▲ +0.1 pp |
| 2025 | -4.5% | ▲ +1.3 pp |
| 2024 | -5.8% | ▼ −0.1 pp |
| 2023 | -5.7% | ▲ +0.9 pp |
| 2022 | -6.6% | ▼ −6.6 pp |
| 2021 | 0.0% | ▲ +9.2 pp |
| 2020 | -9.2% | ▼ −8.6 pp |
| 2019 | -0.6% | ▼ −2.9 pp |
| 2018 | 2.3% | ▼ −3.2 pp |
| 2017 | 5.5% | ▲ +1.1 pp |
| 2016 | 4.4% | ▲ +3.8 pp |
| 2015 | 0.6% | ▼ −3.0 pp |
| 2014 | 3.6% | ▲ +2.6 pp |
| 2013 | 1.0% | ▼ −2.1 pp |
| 2012 | 3.1% | ▼ −0.7 pp |
| 2011 | 3.8% | ▼ −0.3 pp |
| 2010 | 4.1% | ▲ +2.6 pp |
| 2009 | 1.5% | ▲ +1.3 pp |
| 2008 | 0.2% | ▼ −7.1 pp |
| 2007 | 7.3% | ▲ +3.3 pp |
| 2006 | 4.0% | ▲ +3.0 pp |
| 2005 | 1.0% | ▲ +1.3 pp |
| 2004 | -0.3% | ▲ +2.9 pp |
| 2003 | -3.2% | ▲ +1.6 pp |
| 2002 | -4.8% |
Government Budget — Hong Kong vs Peers
Latest available reading for each economy (periods may differ). Hong Kong highlighted.
More Hong Kong indicators
Understanding Government Budget — a simple guide
What it measures
General government net lending (+) or borrowing (−) — the overall fiscal balance — as a percentage of GDP.
How it is calculated
(Government revenue − government spending) ÷ GDP × 100. Negative means a deficit.
−5% means the government spent 5% of GDP more than it collected.
A surplus reduces debt.
A deficit adds to government debt.
Why it matters for the economy and markets
Deficits add to government debt and can influence bond yields and inflation.
How to read it
Cyclical downturns widen deficits automatically; compare across several years.
Data source
IMF — World Economic Outlook (series GGXCNL_NGDP), annual data from 1981 to 2025. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current government budget of Hong Kong?
What is the highest and lowest government budget of Hong Kong?
What is the IMF projection for Hong Kong government budget?
What does government budget measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.