Chain volume measures of Gross Domestic Product by economic activity for the fourth quarter of 2024 and the whole year of 2024
The Census and Statistics Department (C&SD) released today (March 20) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for the fourth quarter of 2024 and the whole year of 2024.
GDP figures by economic activity show the value of production in respect of individual economic activities. The value of production is measured by value added or net output, which is calculated by deducting intermediate input consumed in the process of production from the gross value of output. Volume measures of GDP by economic activity, expressed in terms of chain volume measures net of the effect of price changes, enable analysis of the output growth profiles of individual economic sectors in real terms.
According to the preliminary figures, overall GDP increased by 2.4% in real terms in the fourth quarter of 2024 over a year earlier, compared with the 1.9% increase in the third quarter of 2024. For 2024 as a whole, GDP increased by 2.5% in real terms over 2023.
Analysed by constituent services sector and on a year-on-year comparison, value added in respect of all the services activities taken together increased by 1.9% in real terms in the fourth quarter of 2024 over a year earlier, similar to the growth of 1.8% in the third quarter. For 2024 as a whole, value added increased by 2.2% in real terms over 2023 for all the services sectors taken together.
Value added in the import and export, wholesale and retail trades sector decreased by 0.6% in real terms in the fourth quarter of 2024 from a year earlier, as against the increase of 0.3% in the third quarter. For 2024 as a whole, value added in this sector recorded a marginal increase of 0.1% in real terms.
Value added in the accommodation and food services sector increased by 1.4% in real terms in the fourth quarter of 2024 over a year earlier, as against the decline of 5.1% in the third quarter. For 2024 as a whole, value added in this sector decreased by 2.1% in real terms.
Value added in the transportation, storage, postal and courier services sector increased by 6.2% in real terms in the fourth quarter of 2024 over a year earlier, compared with the increase of 6.8% in the third quarter. For 2024 as a whole, value added in this sector recorded an increase of 10.4% in real terms.
Value added in the information and communications sector increased by 1.3% in real terms in the fourth quarter of 2024 over a year earlier, compared with the rise of 2.8% in the third quarter. For 2024 as a whole, value added in this sector rose by 2.1% in real terms.
Value added in the financing and insurance sector increased by 2.0% in real terms in the fourth quarter of 2024 over a year earlier, compared with the increase of 1.3% in the third quarter. For 2024 as a whole, value added in this sector increased by 0.8% in real terms.
Value added in the real estate, professional and business services sector registered an increase of 1.2% in real terms in the fourth quarter of 2024 over a year earlier, as against the decline of 0.2% in the third quarter. For 2024 as a whole, value added in this sector increased by 1.3% in real terms.
Value added in the public administration, social and personal services sector rose by 2.4% in real terms in the fourth quarter of 2024 over a year earlier, virtually the same as that in the third quarter. For 2024 as a whole, value added in this sector rose by 2.7% in real terms.
As for sectors other than the services sectors, value added in the local manufacturing sector increased by 1.0% in real terms in the fourth quarter of 2024 over a year earlier, as against the marginal decrease of 0.1% in the third quarter. For 2024 as a whole, value added in this sector rose by 0.8% in real terms.
Value added in the electricity, gas and water supply, and waste management sector increased by 3.3% in real terms in the fourth quarter of 2024 over a year earlier, after the increase of 3.1% in the third quarter. For 2024 as a whole, value added in this sector registered an increase of 2.9% in real terms.
Value added in the construction sector decreased by 5.6% in real terms in the fourth quarter of 2024 from a year earlier, as against the increase of 1.8% in the third quarter. For 2024 as a whole, value added in this sector increased by 4.1% in real terms.
Further information
The year-on-year percentage changes of GDP by economic activity in real terms from the fourth quarter of 2023 to the fourth quarter of 2024 are shown in Table 1. More detailed statistics are given in the report "Gross Domestic Product by Economic Activity". Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1030004&scode=250). For enquiries about statistics on GDP by economic activity, please call the National Income Branch (2) of the C&SD at 39037005.
Figures of chain volume measures of GDP by economic activity for the fourth quarter of 2024 and the whole year of 2024 are only preliminary at this stage. When more data become available, the preliminary figures will be revised accordingly and can be found at the C&SD website (www.censtatd.gov.hk/en/scode250.html).
Summer Family Cine Fest to take families on fantastical cinematic adventures
The Film Programmes Office (FPO) of the Leisure and Cultural Services Department will present the Summer Family Cine Fest (SFCF) from July 12 to August 16, offering over 40 fun-filled film screenings at the Hong Kong Film Archive, Hong Kong City Hall, the Hong Kong Science Museum, the Hong Kong Space Museum (HKSpM) and the North District Town Hall. The programme is one of the highlights of the International Arts Carnival (IAC).
The Feature Films section features 15 works. Blending animation and live action, "Diplodocus" (2024) tells the story of a cute little comic dinosaur, which, in order to save itself and its family, must help its creator regain his confidence to create. In the animated film "Into the Wonderwoods" (2024), while on the way to visit his grandmother, 10-year-old Angelo is accidentally left behind in the wild. With his imagination and courage, he embarks on a solo journey while braving monsters and demons in the forest.
In "Fox and Hare Save the Forest" (2024), a selfish beaver causes a flood in the forest, and other animals bravely come together to save their home. "Tummy Tom and the Lost Teddy Bear" (2024) follows a cat on an adventurous journey to find its favourite cuddle toy bear. In "Benjamin Bat" (2024), a little bat named Benjamin is bullied by his brothers for loving singing and becoming friends with a bat's sworn enemy, a bird. For himself and his friend, he needs to muster his courage to stand up against the odds. A cute penguin in "Thelma's Perfect Birthday" (2024) accidentally travels from the Land of Ice to the warm Great Forest and learns the meaning of growth through this whimsical journey.
"Buffalo Kids" (2024) from Spain tells the story of two young siblings and their disabled new friend teaming up to battle wits and strength against outlaws of the Wild West in a thrilling adventure of courage and inclusion. Starting from the parents of a young boy building a sailboat in their home garden, "A Boat in the Garden" (2024) tells a story of perseverance and dedication of a family of three in the pursuit of dreams.
The Swedish film "The Pinchers' High Voltage Heist" (2023) delivers a comedic portrayal of a quirky family of thieves and their hilarious lives together. In the award-winning "Coco Farm" (2023), three youngsters strive to build a business guided by conscience. In "Lampo, The Travelling Dog" (2023), a social media-famous dog and a sick girl cross paths at a train station, leading to a heartwarming tale of mutual care between human and canine. "Greetings from Mars" (2024) tells the story of how Tom turns his passion for space exploration into strength when his mother has to travel a long way away.
The SFCF also features three sports-themed films. "King Richard" (2021) depicts the parenting story of tennis superstars Venus and Serena Williams' father and coach, who meticulously guided them to success. Lead actor Will Smith won Best Actor awards at the Academy Awards, Golden Globe Awards and British Academy of Film and Television Arts Awards for his performance. "Lioness" (2023) follows a South American migrant girl in the Netherlands pursuing her dream of becoming a football player in a strange land. "The Hill" (2023) delivers a passionate and inspiring true story of a baseball prodigy overcoming adversity despite suffering from a degenerative spinal condition.
In addition, the FPO will co-organise with the HKSpM to present the dome show, "The Great Solar System Adventure!" (2024), at the Space Theatre of the HKSpM. Audiences will be guided through an exhilarating journey across the solar system. After the screenings, audiences will be invited to join a post-screening activity at the HKSpM Lecture Hall to make Mars paper models and learn about the major discoveries of various Mars exploration missions. This activity will be conducted in Cantonese.
Veteran dubbing artists Yip Ka-man and Kinson Lai will perform live Cantonese dubbing for "Thelma's Perfect Birthday", "Benjamin Bat" and "Into the Wonderwoods" with no subtitles. "The Great Solar System Adventure!" is in Cantonese, with English available through the headphone system, with no subtitles. Other films will feature Chinese and English subtitles.
Apart from the feature films, the FPO has hand-picked 20 animated short films from around the world to present three World Animation & Shorts programmes, titled "All About Love", "Is That OK?" and "Craving For Food!". Professional actor and drama tutor Man Jai (Raymond Chan) will host an introduction in Cantonese for the programmes.
The FPO will also present a two-day event titled Summer of Light: Cinematic Adventure at Sai Wan Ho Civic Centre on July 12 and 13. The event consists of free activities and ticketed workshops for the public to participate. Details will be available in early June on the FPO website www.lcsd.gov.hk/fp.
Tickets are priced at $88 and will be available from tomorrow (May 16) at URBTIX (www.urbtix.hk). For telephone bookings, please call 3166 1288. For programme enquiries and concessionary schemes, please call 2734 2900 or visit www.lcsd.gov.hk/fp/en/listing.html?id=75.
For details of other IAC programmes, please visit the website www.hkiac.gov.hk.
Summer Family Cine Fest to take families on fantastical cinematic adventures Source: HKSAR Government Press Releases
Summer Family Cine Fest to take families on fantastical cinematic adventures Source: HKSAR Government Press Releases
Summer Family Cine Fest to take families on fantastical cinematic adventures Source: HKSAR Government Press Releases
Summer Family Cine Fest to take families on fantastical cinematic adventures Source: HKSAR Government Press Releases
Summer Family Cine Fest to take families on fantastical cinematic adventures Source: HKSAR Government Press Releases