ECONOMY | Staff Reporter, Hong Kong

Hong Kong's gross domestic product up 7% to $627b

Gross national income also inched up 8.5% to $677.5b.

Hong Kong's Gross National Income rose 8.5% year-on-year to $677.5 billion in the second quarter, while Gross Domestic Product grew 7% to $627 billion, the Census & Statistics Department announced.

The city's GNI was larger than its GDP by $50.4 billion, representing a net external primary income inflow of the same amount, and equivalent to 8% of GDP in that quarter.

After netting out the effect of price changes, Hong Kong's GNI increased 5.2% in real terms compared to a year earlier, while the corresponding GDP grew 3.8%.

Total primary income inflow into Hong Kong - estimated at $391.4 billion and equivalent to 62.4% of GDP - was up 6.8% compared to the previous year.

Total primary income outflow - estimated at $341 billion and equivalent to 54.4% of GDP - increased 4% year-on-year.

Taking the inflow and outflow together, a net external primary income inflow of $50.4 billion was recorded in the second quarter.

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