Chain volume measures of Gross Domestic Product by economic activity for the third quarter of 2021
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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 increased by 5.4% in real terms in the third quarter of 2021 over a year earlier, compared with the 7.6% increase in the second quarter of 2021.
Analysed by constituent services sector and on a year-on-year comparison, net output in respect of all the services activities taken together increased by 5.3% in real terms in the third quarter of 2021 over a year earlier, compared with the 6.6% increase in the second quarter. Hong Kong's economic recovery became more entrenched in the third quarter of 2021 alongside the continued revival of global economic activity and stable local epidemic situation. Consumption Voucher Scheme also provided additional support to consumption-related industries.
Net output in the import and export, wholesale and retail trades sector increased by 8.0% in real terms in the third quarter of 2021 over a year earlier, compared with the increase of 15.5% in the second quarter.
Net output in the financing and insurance sector increased by 3.2% in real terms in the third quarter of 2021 over a year earlier, following the 6.2% rise 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 increased by 46.8% in real terms in the third quarter of 2021 over a year earlier, compared with the increase of 16.8% in the second quarter.
Net output in the transportation, storage, postal and courier services sector increased by 20.3% in real terms in the third quarter of 2021 over a year earlier, compared with the increase of 19.6% in the second quarter.
Net output in the information and communications sector increased by 2.3% in real terms in the third quarter of 2021 over a year earlier, compared with the growth of 2.1% in the second quarter.
Net output in the real estate, professional and business services sector registered an increase of 2.6% in real terms in the third quarter of 2021 over a year earlier, compared with the 2.3% growth in the second quarter.
Net output in the public administration, social and personal services sector rose by 4.2% in real terms in the third quarter of 2021 over a year earlier, similar to the 4.1% increase in the second quarter.
As for sectors other than the services sectors, net output in the local manufacturing sector increased by 7.8% in real terms in the third quarter of 2021 over a year earlier, compared with the increase of 5.6% in the second quarter.
Net output in the electricity, gas and water supply, and waste management sector increased by 3.6% in real terms in the third quarter of 2021 over a year earlier, compared with the increase of 6.0% in the second quarter.
Net output in the construction sector increased by 0.6% in real terms in the third quarter of 2021 over a year earlier, as against the decrease of 0.5% 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 2020 to the third quarter of 2021 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 2021 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 20, 2021
Issued at HKT 16:30
Issued at HKT 16:30
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