HK's GNP for First Quarter Higher over Last YearHong Kong's Gross National Product (GNP) for the first quarter of 2001 was estimated at 316.8 billion HK dollars (US$40.6 billion), representing an increase of 1.6 percent over a year earlier, the Census and Statistics Department said on Tuesday.The difference of 12.0 billion HK dollars (US$1.5 billion) from Gross Domestic Product (GDP), estimated at 304.8 billion HK dollars (US$39 billion) for the same quarter, represented a net factor income inflow equivalent to 3.9 percent of the GDP in that quarter, the department said. After netting out the effect of price changes, Hong Kong's GNP rose by 3.4 percent in real terms in the first quarter of 2001 over a year earlier. This was above the growth of 2.5 percent in real terms for Hong Kong's GDP in the same quarter, the department said. The GDP and GNP are closely related measures of economic performance. The GDP is the total value of production of all resident producing units within the territory, the Census and Statistics Department said. The GNP denotes the total income earned by residents of a particular territory, regardless of the place in which the economic activities giving the income are undertaken, the department said. |
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