Source: world bank Nominal/PPP
Summary:
Hong Kong SAR GDP Per Capita expanded from 1960 to 2008, increasing from $426.77 to $31,515.53 .The compound annual growth rate (CAGR) averaged 9.38% over the period. The economy recorded its peak level in 2008 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 12.27%, indicating the largest cyclical decline from peak levels. The country experienced 4 recession episode(s) during the observed period.
Hong Kong SAR Economic Phases (1960 - 2008)
From 1960 to 2008, Hong Kong SAR economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1962–1965) indicating robust economic expansion
- High Growth (1969–1981) indicating robust economic expansion
- High Growth (1984–1994) indicating robust economic expansion
- High Growth (1996–1997) indicating robust economic expansion
- Contraction (1998–1999) indicating temporary slowdown
- Contraction (2001–2003) indicating temporary slowdown
- High Growth (2005–2007) indicating robust economic expansion
- Expansion (2008–2008) indicating steady moderate growth
The most remarkable growth occurred in 1973 with an increase of 36.718%, while the largest decline was in 1983 at -8.779%.