HK's GNP Rises 3.7 Percent for Second Quarter 2000Hong Kong's Gross National Product was estimated at 317.3 billion HK dollars (US$40.68 billion) for second quarter 2000, an increase of 3.7 percent over a year earlier, the Census and Statistics Department said on Tuesday.After netting out the effect of price change, Hong Kong's GNP grew by 12.0 percent in real terms in the second quarter of 2000 over a year earlier, according to statistics released Tuesday by the department. Total factor income inflow into Hong Kong, estimated at 102.8 billion HK dollars (US$13 billion), increased significantly by 12.8 percent in the second quarter of 2000 over a year earlier, while total factor income outflow also recorded a notable growth, by 9.3 percent to 96.4 billion HK dollars (US$12.36 billion). Taking the inflow and outflow together, net external factor income flow (EFIF) surged by 118.2 percent in the second quarter of 2000, amounting to 6.4 billion HK dollars (US$820 millions) . Within the total factor income inflow, direct investment income (DII) recorded a substantial increase of 26.9 percent in the second quarter of 2000 over a year earlier, reflecting that the earnings from Hong Kong's direct investment abroad continued to rise markedly upon the sustained regional recovery. A government Secretariat spokesman noted that external factor income flows continued to be sizable in the second quarter of 2000, with the inflow and outflow each amounting to about one-third of GDP in that quarter. The sharp increases in income inflow and outflow from direct investment reflected higher investment returns upon sustained improvement in the local and regional economic environment, he said. |
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