HK's Balance of Payments record 15.4 bln HKD surplus in Q3

08:31, December 24, 2010      

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Hong Kong recorded a 15.4 billion HK dollars surplus in its Balance of Payments account (as a ratio to 3.4 percent of GDP) in the third quarter, compared with a surplus of 5.5 billion HK dollars (as a ratio to 1.3 of GDP) in the second quarter, the authority announced here on Thursday.

According to figures released by the Census &Statistics Department, there was a current account surplus of 44.3 billion HK dollars in the third quarter, larger than the 8.7 billion figure for the second quarter.

A net outflow of financial non-reserve assets amounting to 53.6 billion HK dollars was recorded, against a net inflow of 6 billion HK dollars in the previous quarter.

With exports of goods increasing faster than imports, the visible trade deficit decreased from 65.9 billion HK dollars in the third quarter of 2009 to 60.1 billion HK dollars in this year' s third quarter.

The invisible trade surplus increased from 86 billion HK dollars to 117.1 billion HK dollars, year-on-year, as exports of services increased faster than imports.

A combined visible and invisible trade surplus of 57.1 billion HK dollars was recorded, beating the 20.1 billion figure for the third quarter last year. (One U.S. dollar is about 7.78 HK dollars. )

Source: Xinhua
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