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- HK's balance-of-payments account sees 13.9 bln HK dollars surplus
Date: 24-Dec-2007 Sources: (Xinhua Online)
HONG KONG, Dec. 21 (Xinhua) -- Hong Kong recorded a 13.9 billion HK dollars (1.8 billion U.S. dollars) surplus in its balance-of-payments account in the third quarter of 2007, official figures released here Friday indicated.
The amount was 3.9 billion HK dollars higher than in the second quarter, representing 3.4 percent of Hong Kong's gross domestic product, the Census and Statistics Department said.
Of the major balance-of-payment components, there was a current- account surplus of 65.2 billion HK dollars in the third quarter, larger than that of 26.5 billion HK dollars in the second.
A net outflow of financial non-reserve assets amounting to 73.3billion HK dollars was recorded, larger than that of 34 billion HK dollars in the second, said the department.
Compared with the 61.9 billion HK dollars surplus recorded in the third quarter of 2006, the current-account surplus in the third quarter of 2007 was characterized by rises in visible trade deficit and invisible trade surplus, a continued net inflow of external-factor income, and a continued net outflow of current transfers.
In the third quarter, a net inflow of capital transfers was estimated at 7 billion HK dollars, as compared with a net inflow of 3.7 billion HK dollars in the second. (One U.S. dollar = 7.793 HK dollars)
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