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Hong Kong Debt to GDP Ratio

Hong Kong's government debt to GDP ratio hit a record 9.3% in 2024, up from 6.3% in 2023. This increase stems from higher government spending, expected to rise from HK$727.9 billion to HK$776.9 billion. Increased bond issuance of HK$120 billion for infrastructure and revenue shortfalls in land premiums and stamp duties also contributed to the deficit and increased borrowing. Hong Kong's record low government debt to GDP was 0.1% in 2015 and record high was 9.3% in 2024.

Yearly Historical Data (2015-2024)

(in %)
Year Debt to GDP Ratio
2024 9.3%
2023 6.3%
2022 4.3%
2021 1.9%
2020 1%
2019 0.3%
2018 0.1%
2017 0.1%
2016 0.1%
2015 0.1%
Hong Kong Debt to GDP Ratio : Definition
Hong Kong's government debt to GDP is the ratio of total government liabilities to the city's economic output. It is calculated by dividing the government's outstanding debt, primarily certificates of indebtedness, by the Gross Domestic Product (GDP) measured in Hong Kong dollars.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio 11.5% 7.7% Dec'24
Interest Rate 4.5% 4.75% Sep'25
Private Credit (% GDP) 230.9% 248.59% 2024