Hong Kong posts a balance of payments surplus

Hong Kong recorded a $48.2 billion surplus in its balance of payments account in the first quarter of 2012, said the Census & Statistics Department.

The amount represents 10.3% of the city’s gross domestic product. Hong Kong had a current-account surplus of $1.7 billion with a net inflow of financial non-reserve assets amounting to $52.7 billion, compared with a net outflow of $1.9 billion in the previous quarter.

With goods imports rising faster than exports, the visible trade deficit rose from $93.8 billion in 2011's first quarter to $131.4 billion.

The invisible trade surplus rose to $132.7 billion, as services exports increased faster than imports. Overall, a combined visible and invisible trade surplus of $1.3 billion was recorded in the first quarter of 2012.

The external factor income inflow amounted to $239.9 billion while outflow stood at $233.9 billion, yielding a net inflow of $6 billion.