Hong Kong GDP fell 4.2% in the fourth quarter last year.

The Hong Kong Government Statistics Office released data. The fourth quarter of last year's GDP fell 4.2%compared with the same period last year, and the third quarter declined by 4.6%; the whole year and 2021 fell 3.5%.

Comprehensive Ming Pao and Sing Tao Daily reported that the total exports of local goods in the fourth quarter of last year fell, fell 24.8%year -on -year, and the third quarter fell 15.8%year -on -year.In the fourth quarter of last year, the import of goods fell 22.8%year -on -year, which also deteriorated by 16.4%from the third quarter.From the perspective of the year, the total exports of goods fell 13.9%year -on -year, and the total imports fell 13.1%year -on -year.

According to the local GDP, private consumption expenditures rose 1.7%in the fourth quarter last year, and the third quarter of the same year recorded a decline of 0.4%.Last year, private consumption expenditure fell 1.1%year -on -year.The government consumption expenditure calculated based on the national economic accounting and definition. Following the 5.3%of the third quarter of last year, the fourth quarter was substantially rose by 9.1%year -on -year, and the year was a substantial year -on -year by 8.1%.

A spokesman for the Hong Kong government said that the Hong Kong economy continued to record obviously year -on -year contraction last year, mainly due to the sharp deterioration of the peripheral environment and the obstruction of cross -border land freight, the overall exports of goods plummeted, and the weakened local demand was weakened., First affected by the local fifth wave of epidemic, then dragged down by the tightening of financial conditions.

The spokesman said that looking forward to the Hong Kong economy will recover this year, the slowdown in the growth of advanced economies will continue to challenge the export of goods in Hong Kong. It is expected that the mainland economy will accelerate growth and relax the restrictions on cross -border freight.You should provide some support.

The spokesman also said that as the passenger's isolation quarantine arrangement was canceled and the retransimer of Hong Kong and the mainland, it is expected that the entry tourism will rebound strongly and will support the recovery of the service output.