Hong Kong SAR, China Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Hong Kong SAR, China's budget deficit was -4.82% in 2025, ranked 139th globally. This represents a 17.2% increase from 2024. Data from IMF WEO, covering 1981–2025.
Overview
Hong Kong SAR, China's budget deficit stood at -4.82% in 2025, a rise of +1.00% from 2024. The IMF projects -4.82% by 2025. Hong Kong SAR, China ranked 139th globally.
Hong Kong SAR’s primary budget deficit has swung dramatically over the 45‑year series, moving from a surplus of 2.80 % of GDP in 1981 to a peak deficit of 7.34 % in 2007, before plunging to an all‑time trough of –9.23 % in 2020 amid the pandemic‑related revenue shock. By 2025 the deficit stood at –4.82 % of GDP, ranking 139th globally and placing Hong Kong close to peers such as Hungary (–4.68 %) and Guyana (–4.94 %). The post‑2020 rebound reflects a partial fiscal recovery as tax receipts improved and stimulus measures were wound down, yet the deficit remains sizable relative to the pre‑crisis surplus era. Continued pressure on public finances could be mitigated by stronger economic growth, higher corporate tax yields, or targeted spending cuts; absent such adjustments, the deficit trajectory is likely to stay in the negative‑mid‑single‑digit range in the near term.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 0.54% | - | - |
| 2029* IMF | 0.54% | - | - |
| 2028* IMF | -0.50% | - | - |
| 2027* IMF | -1.54% | - | - |
| 2026* IMF | -3.23% | - | - |
| 2025* IMF | -4.82% | - | - |
| 2025 | -4.82% | +1.00% | #139 |
| 2024 | -5.82% | −0.17% | #37 |
| 2023 | -5.65% | +0.93% | #31 |
| 2022 | -6.58% | −6.58% | #29 |
| 2021 | 0.01% | +9.24% | #167 |
| 2020 | -9.23% | −8.65% | #44 |
| 2019 | -0.58% | −2.93% | #119 |
| 2018 | 2.35% | −3.14% | #165 |
| 2017 | 5.49% | +1.11% | #186 |
| 2016 | 4.39% | +3.79% | #184 |
| 2015 | 0.60% | −3.00% | #172 |
| 2014 | 3.59% | +2.58% | #178 |
| 2013 | 1.01% | −2.14% | #165 |
| 2012 | 3.14% | −0.63% | #165 |
| 2011 | 3.77% | −0.37% | #172 |
Detected Pattern
Analysis
Hong Kong SAR, China matched the Export Boom Cycle pattern in 2017. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Hong Kong SAR, China's budget deficit was -4.82% in 2025. Ranked 139th globally. This represents a 17.2% increase from the previous year.
Hong Kong SAR, China's budget deficit peaked at 7.34% in 2007.
The lowest budget deficit in Hong Kong SAR, China was -9.23% in 2020.
Hong Kong SAR, China ranks 139th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Hong Kong SAR, China's budget deficit is projected to reach -4.82% by 2025 based on IMF projection.
The budget deficit of Hong Kong SAR, China in 2025 was -4.82%. This ranks 139th in the world.
Cite this page
@misc{historysaid_hong-kong-sar-china_budget-deficit,
title = {Hong Kong SAR, China Budget Deficit},
url = {https://historysaid.com/hong-kong-sar-china/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}