HK's gross national product in Q1 jumps 13.4%

Hong Kong's gross national product rose to 442.4 billion HK dollars (1 U.S. dollar equals to 7.793 HK dollars) in the first quarter this year, up 13.4 percent from a year earlier, the city's Census and Statistics Department said on Monday.

HK's gross domestic product rose 9.2 percent to 416.8 billion HK dollars.

Compared with GDP, Hong Kong's GNP was larger by 25.6 billion HK dollars, representing a net external factor income inflow of the same amount, and equivalent to 6.1 percent of GDP in that quarter, said the department.

After netting out the effect of price changes, Hong Kong's GNP grew 12.3 percent in real terms compared to the corresponding rise of 8.2 percent recorded for GDP.

Total factor income inflow into Hong Kong, estimated at 200.5 billion HK dollars and equivalent to 48.1 percent of GDP, increased by 17.1 percent.

Total factor income outflow, estimated at 174.9 billion HK dollars and equivalent to 42 percent of GDP, recorded an increase of 7.6 percent. Taking the inflow and outflow together, a net external factor income inflow of 25.6 billion HK dollars was recorded.

Within total factor income inflow, direct investment income grew 25.8 percent, portfolio investment income increased 15.6 percent, while other investment income dropped 48.8 percent.

Within total factor income outflow, direct investment income rose 14.3 percent, portfolio investment income grew 3.7 percent, while other investment income dropped 54.7 percent, according to the department.

Source: Xinhua