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HK's GDP up 9.5 pct in Q3

HK's GDP up 9.5 pct in Q3

Write: Kaylana [2011-05-20]

Hong Kong's gross domestic product (GDP) rose 9.5 percent from a year earlier in the third quarter this year, reaching 453.9 billion HK dollars (58.35 billion U.S. dollars), said the Hong Kong government on Tuesday.

Meanwhile, Hong Kong's gross national product (GNP) went up 7.9 percent year on year, reaching 447.8 billion HK dollars at current market prices, said the Census and Statistics Department.

After netting out the effect of price changes, Hong Kong's GNP increased 5.3 percent in real terms, while the GDP in the same quarter up 6.8 percent, the data showed.

During the same period, total factor income inflow into Hong Kong, estimated at 223.8 billion HK dollars, equivalent to 49.3 percent of GDP, rose 17.8 percent over a year earlier.

Total factor income outflow, estimated at 229.9 billion HK dollars in the third quarter and equivalent to 50.6 percent of GDP, went up 21.3 percent over a year earlier.

Taking the inflow and outflow together, a net external factor income outflow of 6.1 billion HK dollars was recorded.

Chinese mainland continued to be the largest source of Hong Kong's external factor income inflow in the third quarter, accounting for 37.4 percent of the total, the department said. (1 U.S. dollar is equivalent to 7.779 HK dollars)