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HK Records Surplus in BoP Account in 3rd Guarter
Hong Kong recorded a surplus of HK$39 billion (US$5 billion) in its Balance of Payments account in the third quarter of 2000, following a surplus of HK$25.4 billion (US$3.26 billion) in the second quarter, the Census and Statistics Department announced Thursday.
According to the department's preliminary BoP account for the third quarter, Hong Kong posted a sizable current account surplus of HK$20.8 billion (US$2.67 billion) in the third quarter, larger than that of HK$12.2 billion (US$1.56 billion) in the second quarter.
Meanwhile, a net inflow of financial non-reserve assets amounting to HK$16.2 billion (US$2 billion) was recorded in the third quarter, also larger than that of HK$13.0 billion (US$1.67 billion) in the second quarter.
On direct investment (DI) flows, both Hong Kong's DI abroad and foreign DI in Hong Kong increased, by HK$34.4 billion (US$4.41 billion) and HK$56.3 billion (US$7.21 billion) respectively during the third quarter of 2000.
A government secretariat spokesman noted that Hong Kong's overall external payments position remained favorable in the third quarter of 2000, reflecting general improvement in the regional and local investment environment upon the sustained economic recovery.
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