According to the results of the 2022 Annual Survey of Economic Activities – Information and Communications, Financing and Insurance, Professional and Business Services Sectors released today (November 30) by the Census and Statistics Department (C&SD), the financing (except banking) industry recorded the largest total receipts (comprising business receipts and other income) in 2022, followed by insurance; banking; information and communications; professional, scientific and technical activities; and administrative and support service activities.

     In the financing (except banking) industry, total receipts increased by 2.1% over 2021 to $684.0 billion in 2022. On a per establishment basis, total receipts increased by 0.9% compared with 2021 to $72.4 million in 2022. Total operating expenses and compensation of employees together decreased by 3.5% year-on-year to $312.9 billion in 2022. Gross surplus, which is equal to total receipts less operating expenses, compensation of employees and (where applicable) value of purchases of goods for sale, increased by 7.3% over 2021 to $371.0 billion in 2022, accounting for 54.2% of total receipts in 2022. Industry value added (except investment and holding companies), which is a measure of its contribution to Hong Kong’s Gross Domestic Product (GDP), decreased by 19.0% compared with 2021 to $108.0 billion in 2022. In 2022, the financing (except banking) industry comprised about 9 400 establishments and engaged about 98 700 persons, or an average of 10.4 persons per establishment.

     In the insurance industry, total receipts amounted to $649.5 billion in 2022, representing an increase of 0.4% compared with 2021.  On a per establishment basis, total receipts increased by 0.7% compared with 2021 to $234.5 million in 2022. Total operating expenses and compensation of employees together decreased by 2.3% year-on-year to $64.1 billion in 2022. In 2022, the insurance industry comprised about 2 800 establishments and engaged about 88 200 persons, or an average of 31.8 persons per establishment.

     In the banking industry, total receipts amounted to $483.2 billion in 2022, representing an increase of 12.3% compared with 2021. On a per establishment basis, total receipts increased by 15.9% compared with 2021 to $2.2 billion in 2022. Total operating expenses and compensation of employees together increased by 0.7% year-on-year to $240.1 billion in 2022. In 2022, the banking industry comprised 218 establishments and engaged about 99 800 persons, or an average of 457.8 persons per establishment.

     Owing to the special features of business operations for the banking industry and the insurance industry, gross surplus and industry value added statistics are not compiled for these industries. Statistics on value added in respect of these two industries compiled under the framework of GDP are released by the C&SD separately. Similarly, within the financing (except banking) industry, industry value added is not compiled for investment and holding companies. Hence, the figure of industry value added for this industry does not cover investment and holding companies.

     In the information and communications sector, total receipts amounted to $240.0 billion in 2022, representing an increase of 3.0% compared with 2021. On a per establishment basis, total receipts increased by 2.5% over 2021 to $21.2 million in 2022. Total operating expenses and compensation of employees together increased by 2.9% year-on-year to $164.9 billion in 2022.  Gross surplus increased by 9.7% over 2021 to $60.0 billion in 2022, accounting for 25.0% of total receipts in 2022. Industry value added increased by 4.3% compared with 2021 to $99.8 billion in 2022. In 2022, the information and communications sector comprised about 11 300 establishments and engaged about 103 000 persons, or an average of 9.1 persons per establishment.

     In the professional, scientific and technical activities sector, total receipts amounted to $161.1 billion in 2022, representing an increase of 0.2% compared with 2021. On a per establishment basis, total receipts increased by 0.9% over 2021 to $5.8 million in 2022. Total operating expenses and compensation of employees together decreased by 0.9% year-on-year to $127.2 billion in 2022. Gross surplus increased by 6.6% over 2021 to $32.6 billion in 2022, accounting for 20.2% of total receipts in 2022. Industry value added increased by 0.4% compared with 2021 to $87.7 billion in 2022. In 2022, the professional, scientific and technical activities sector comprised about 27 700 establishments and engaged about 150 800 persons, or an average of 5.4 persons per establishment.

     In the administrative and support service activities sector, total receipts amounted to $95.8 billion in 2022, representing an increase of 10.6% compared with 2021. On a per establishment basis, total receipts increased by 15.8% over 2021 to $8.4 million in 2022. Total operating expenses and compensation of employees together increased by 9.3% year-on-year to $88.6 billion in 2022. Gross surplus increased from $5.0 billion in 2021 to $6.6 billion in 2022, accounting for 6.9% of total receipts in 2022. Industry value added increased by 7.0% compared with 2021 to $53.7 billion in 2022. In 2022, the administrative and support service activities sector comprised about 11 400 establishments and engaged about 226 500 persons, or an average of 19.9 persons per establishment.

     Selected statistics for the sectors mentioned above are shown in the attached table. More detailed statistics will be given in the reports "Key Statistics on Business Performance and Operating Characteristics of the Information and Communications Sector in 2022" and "Key Statistics on Business Performance and Operating Characteristics of the Financing and Insurance, Professional and Business Services Sectors in 2022". Users can browse and download these reports at the website of the C&SD (https://www.censtatd.gov.hk/en/scode560.html and https://www.censtatd.gov.hk/en/scode570.html) as from end-December 2023.

     For enquiries about the key statistics on business performance and operating characteristics of the information and communications, financing and insurance, professional and business services sectors, please contact the Business Services Statistics Section of the C&SD (Tel: 3903 7268 or email: business-services@censtatd.gov.hk).

Ends/Thursday, November 30, 2023
Issued at HKT 16:30

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