Hong Kong SAR, China GDP Deflator
Inflation as measured by annual growth rate of GDP implicit deflator NY.GDP.DEFL.KD.ZG
Hong Kong SAR, China's gdp deflator was 4.52% in 2025, ranked 126th globally. This represents a 18.2% increase from 2024. Data from World Bank, covering 1962–2025.
Overview
Hong Kong SAR, China's gdp deflator stood at 4.52% in 2025, a rise of +0.70pp from 2024. Based on recent trends, this figure is projected to reach 4.52% by 2025. Hong Kong SAR, China ranked 126th globally.
Hong Kong’s GDP deflator stood at 4.52 % in 2025, ranking it 126th globally, and reflects a modest inflationary environment after more than six decades of measurement. The index surged to its all‑time peak of 17.76 % in 1979, a period marked by rapid industrial expansion and external price shocks, before collapsing to a historic trough of –6.01 % in 2003 amid the Asian financial crisis and deflationary pressures. Over the 64‑year series, the deflator has trended downward from the early 1960s level of 1.95 %, indicating a long‑run moderation of price movements relative to nominal GDP. Compared with peers, Hong Kong’s 2025 figure sits close to the United States (4.50 %) and Italy (4.59 %), suggesting a similar pace of underlying price change among advanced economies. Continued resilience of export‑driven growth and stable monetary policy are likely to keep the deflator within a narrow band, though significant external shocks could alter this trajectory.
Data & projection
| Year | GDP Deflator | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 6.24% | - | - |
| 2026* trend | 5.38% | - | - |
| 2025* trend | 4.52% | - | - |
| 2025 | 4.52% | +0.70pp | #126 |
| 2024 | 3.82% | +0.93pp | #98 |
| 2023 | 2.89% | +1.20pp | #61 |
| 2022 | 1.69% | +1.01pp | #16 |
| 2021 | 0.68% | +0.05pp | #16 |
| 2020 | 0.64% | −1.41pp | #64 |
| 2019 | 2.04% | −1.61pp | #96 |
| 2018 | 3.66% | +0.78pp | #127 |
| 2017 | 2.88% | +1.24pp | #105 |
| 2016 | 1.64% | −2.01pp | #94 |
| 2015 | 3.64% | +0.79pp | #145 |
| 2014 | 2.85% | +1.04pp | #123 |
| 2013 | 1.81% | −1.73pp | #92 |
| 2012 | 3.54% | −0.35pp | #101 |
| 2011 | 3.90% | +3.63pp | #85 |
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 gdp deflator improve within 24 months. View full analysis →
Frequently Asked Questions
Hong Kong SAR, China's gdp deflator was 4.52% in 2025. Ranked 126th globally. This represents a 18.2% increase from the previous year.
Hong Kong SAR, China's gdp deflator peaked at 17.76% in 1979.
The lowest gdp deflator in Hong Kong SAR, China was -6.01% in 2003.
Hong Kong SAR, China ranks 126th globally in gdp deflator as of 2025.
The World Bank indicator code is NY.GDP.DEFL.KD.ZG. Data sourced from World Bank.
Hong Kong SAR, China's gdp deflator is projected to reach 4.52% by 2025 based on trend extrapolation.
The gdp deflator of Hong Kong SAR, China in 2025 was 4.52%. This ranks 126th in the world.
Cite this page
@misc{historysaid_hong-kong-sar-china_gdp-deflator,
title = {Hong Kong SAR, China GDP Deflator},
url = {https://historysaid.com/hong-kong-sar-china/gdp-deflator/},
publisher = {HistorySaid},
year = {2026}
}