Hong Kong GDP grows 5.9% to $413.5bln

China remains largest external factor income inflow source at 43.8% as GNP $17.6bln larger than GDP.

Hong Kong's gross domestic product was estimated at $413.5 billion at current market prices in this year's second quarter, up 5.9% on the same period last year. Gross national product rose 4.6% to $431 billion.

The Census & Statistics Department said on Tuesday the value of gross national product was $17.6 billion larger than that for gross domestic product, representing a net external factor income inflow of the same amount, and equivalent to 4.2% of gross domestic product in that quarter, according to the Census and Statistics Department report.

Total factor income inflow into Hong Kong, estimated at $253.8 billion, rose 18% over a year earlier. Total factor income outflow, estimated at $236.2 billion in the second quarter, grew 22% over a year earlier. Taking the inflow and outflow together a net external factor income inflow of $17.6 billion was recorded.

After netting out the effect of price changes, Hong Kong's gross national product increased 5.1% in real terms in the second quarter this year over a year earlier.

The Mainland continued to be the largest source of Hong Kong's external factor income inflow, accounting for 43.8%, followed by the British Virgin Islands with a share of 27.8%. Regarding external factor income outflow, the Mainland and the British Virgin Islands remained the most important destinations, accounting for 26.8% and 23.5%.