Hong Kong: General government net lending/borrowing
General government revenue minus total expenditure, as a percentage of GDP: positive is a surplus (net lending), negative a deficit (net borrowing).
Official statisticIMF forecastSource figures as of October 8, 2026 · International Monetary Fund’s own, as published, To 2031Sources & methods
- Sources
- International Monetary Fund
- Period covered
- 1981 – 2025
- Source figures as of
- October 8, 2026
- Geography
- Hong Kong
- Sector
- Whole economy (not a single sector)
- Seasonal adjustment
- Not applicable
- Transformations
- Views other than the level (changes, averages, volatility) are calculated by CK Economics from these figures
- Forecast method
- International Monetary Fund’s own, as published
- Assumptions
- International Monetary Fund’s own
- Horizon
- To 2031
- Interval
- Not recorded
- Backtest
- See the publisher
- Revisions
- Replaced with the source’s latest figures whenever it revises them.
- Data status
- Current
Key figures
CK estimate% of GDP · calculated by CK Economics from International Monetary Fund data
- Latest · 2025
- −4.5
- +1.3 pp vs a year earlier1
- 5-year change
- +4.7 pp
- since 20202
- 10-year change
- −5.1 pp
- since 20152
- Record high
- 7.3
- 20073
- Record low
- −9.2
- 20203
- Where the latest ranks
- 13th pct.
- Higher than 13% of the other 44 observations since 19814
- IMF forecast · 2031
- −0.7
- As published5
- 1Latest observation against the observation one year earlier (for weekly data, the nearest within three days).
- 2Latest observation against the observation five and ten years earlier.
- 3Highest and lowest published observations across the full history shown.
- 4Share of the other published observations that are lower than the latest one, rounded down.
- 5Final period of the publisher's own forecast, shown as published (rounded to three significant figures); not a CK forecast.
Methodology
General government revenue minus total expenditure, as a percentage of GDP: positive is a surplus (net lending), negative a deficit (net borrowing). Figures for the years from the WEO's own year onward are IMF staff projections, labelled "IMF forecast". Earlier years are the IMF's series of reported data, which for some countries include IMF staff estimates for the latest years. Values from 2026 on are labelled “IMF forecast”: the source’s projections, not CK Economics’. Source series GGXCNL_NGDP. Licence: IMF terms of use (https://www.imf.org/en/About/copyright-and-terms).
Source
International Monetary Fund, World Economic Outlook (WEO October 2026). https://www.imf.org/external/datamapper/GGXCNL_NGDP@WEO/HKG
Projected periods (6): IMF forecast, shown as published.
All data
| Period | Value | Change y/y |
|---|---|---|
| 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 | +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 pp |
| 2014 | 3.6 | +2.6 pp |
| 2013 | 1 | −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 | +3 pp |
| 2005 | 1 | +1.3 pp |
| 2004 | −0.3 | +2.9 pp |
| 2003 | −3.2 | +1.6 pp |
| 2002 | −4.8 | 0 pp |