ECONOMY | Staff Reporter, Hong Kong

Hong Kong's GDP up 4.8% to $676.9b

While its gross national income grew 7.3% to $696.4b.

Hong Kong's Gross National Income rose 7.3% year-on-year to $696.4 billion in the fourth quarter of 2016, while Gross Domestic Product grew 4.8% to $676.9 billion, the Census & Statistics Department announced.

The city's GNI was larger than its GDP by $19.4 billion, representing a net external primary income inflow of the same amount, and equivalent to 2.9% of GDP in that quarter.

After netting out the effect of price changes, Hong Kong's GNI increased 5% in real terms compared to a year earlier, while the corresponding GDP grew 3.1%.

Total primary income inflow into Hong Kong - estimated at $310.4 billion and equivalent to 45.9% of GDP - was up 13.3% compared to the previous year.

Total primary income outflow - estimated at $291 billion and equivalent to 43% of GDP - increased 7.3% year-on-year.

Taking the inflow and outflow together, a net external primary income inflow of $19.4 billion was recorded in the fourth quarter.

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