In 2022, Hong Kong's nominal GDP was HK$2,850 billion and GDP deflator was 108.5 (2020=100). In 2023, nominal GDP was HK$2,950 billion and deflator was 112.0. The approximate real GDP growth rate from 2022 to 2023 was:

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Accepted Answer

B. Real GDP 2022 = 2850/108.5 × 100 = 2626.7; Real GDP 2023 = 2950/112.0 × 100 = 2633.9. Growth = (2633.9-2626.7)/2626.7 ≈ 0.27% ≈ 0.3%. Nominal growth was 3.5% but inflation (~3.2%) nearly offset it.

In 2022, Hong Kong's nominal GDP was HK$2,850 billion and GDP deflator was 108.5 (2020=100). In 2023, nominal GDP was HK$2,950 billion and deflator was 112.0. The approximate real GDP growth rate from 2022 to 2023 was:

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