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Hong Kong – 1Q 2021 GDP (Advance)
03/05/2021 06:04 pm MYT
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Based on advanced estimates, Hong Kong’s real GDP jumped 7.8% year-on-year in 1Q 2021 due to a low base (figure 1). On a seasonally adjusted basis, real GDP increased by 5.3% quarter-on-quarter in 1Q 2021.
 

On a year-on-year basis, all the main expenditure components of GDP saw a slight recovery with private consumption showing an increase after six quarters of contractions (table 1).
 

The exports and imports of goods increased by 30.6% and 23.3% respectively from a year ago. Meanwhile, the exports and imports of services plunged by 8.7% and 14.9% respectively.
 

The Hong Kong economy is slated to recover as lockdown restrictions loosen. However, with the looming threat of a resurgence in the number of Covid-19 cases and the protracted US-China conflict, the Hong Kong economy should continue to be weak in the near term.

 



 

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Despite being a multi-racial, multi-cultural, and multi-religious society, Malaysia has largely been a peaceful country. This is a great achievement in light of a world that is being ravaged by multiple conflicts. Unfortunately, certain individuals and groups have hated this precious social fabric of the country and are making every effort to tear it apart. People say “you never know what you have until you lose it”. We really hope these selfish and irresponsible people will come to their senses before it is too late.

Nevertheless, it is heartening to see that the Malaysian media and civil society organisations have collectively launched a campaign called “Maaf Zahir Batin Hari Hari” or known as #MZB365 to help heal a dividing Malaysia. Carrying the meaning of “please forgive my wrongs, both thoughts and deeds”, the campaign will run for one whole year. This initiative could not have come at a better time. We believe the majority of Malaysians still treasure the country’s unique social fabric. With #MZB365, hopefully the silent majority can have a bigger voice to counter the destructive noises of the divisive minority.
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