Hong Kong's GDP rises 7.2 percent in Q1

08:27, June 21, 2011      

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Hong Kong's gross domestic product (GDP) went up 7.2 percent in real terms in the first quarter of 2011 from a year earlier, compared with the 6.4 percent increase in the fourth quarter of 2010, the city's Census and Statistics Department announced Monday.

According to the department, analyzed by constituent sector and on a year-on-year comparison, net output in all the service activities taken together increased by 7.0 percent in real terms in the first quarter of 2011 from a year earlier, compared with the 6.4 percent growth in the fourth quarter of 2010.

Net output in the import and export, wholesale and retail trades sector increased significantly by 14.0 percent in real terms in the first quarter of 2011 from a year earlier, faster than the 9.1 percent increase in the fourth quarter of 2010. The accelerated growth was attributable to the strong growth momentum of external trade regained in the first quarter, the department said.

Net output in the transportation, storage, postal and courier services sector increased further by 9.3 percent in real terms in the first quarter of 2011 from a year earlier, after the 6.6 percent growth in the fourth quarter of 2010. The strong growth in this sector was in tandem with the thriving trading activities, it said.

Net output in the financing and insurance sector grew by 12.6 percent in real terms in the first quarter of 2011 from a year earlier, following the growth of 13.8 percent in the fourth quarter of 2010. This reflected the continued buoyancy in financial activities, according to the department

Source:Xinhua
 
 
     
 
 
 
     
 
 
 
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