The Government expenditure in Hong Kong attained a value of 78,686.03 Millions in 2021
The indicator recorded a historical growth (CAGR) of 5.06% between 2018 to 2021, and is expected to grow by...
GlobalData projects the figure to grow at a CAGR of ...
The government expenditure in Hong Kong was $78 billion in 2021. Between 2018 and 2021, the government expenditure was highest in 2021 at $78 billion and lowest in 2018 at $67 billion. The government expenditure increased by 4.4% on a YoY basis in 2021 and increased by 16.00% between 2018 and 2021.
According to the budget of 2019–20, budget expenditure in Hong Kong on education, social welfare, and healthcare amounts to 60% of recurrent government expenditure. Government expenditure on education as a percentage of GDP was recorded at 2.4% in 2021.
Government spending refers to the general government sector, which is a consolidation of accounts for the central, state and local governments plus social security. Total outlays are defined as current outlays plus capital outlays.
The government expenditure is the total amount of public sector expenditure at any level, including central government, local government etc. It is split into the following segments: defense, education, social protection, healthcare, and other.
The military & defense sector includes all military and civil defense spending, foreign military aid, research and development, and other defense related expenditure.
The education sector includes all spending on pre-primary, primary, secondary, and tertiary education, as well as education not definable by level, subsidiary services, research and development, and other education related expenditure.
The social protection segment includes all spending on sickness and disability, old age, survivors, family and children, unemployment, housing, social exclusion, research and development, and other social protection expenditure.
The healthcare segment includes all spending on medical products, appliances, and equipment, as well as outpatient, hospital, and public health services, research and development, and other health expenditure.
The other segment includes spending on general public services, public order and safety, economic affairs, environmental protection, housing and community amenities, and recreation, culture and religion, and other government expenditure.
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer