Hong Kong's gross national product up 7.9%

The gross domestic product, estimated at $453.9 billion, recorded a 9.5% increase.

Hong Kong's Information Services Department said Hong Kong's gross national product went up 7.9% to $447.8 billion at current market prices in this year's third quarter, compared to the same period last year.

Compared with the gross domestic product, the value of gross national product was smaller by $6.1 billion in this year’s third quarter, representing a net external factor income outflow of the same amount, and equivalent to 1.3% of gross domestic product in that quarter.

After netting out the effect of price changes, Hong Kong's gross national product rose 5.3% in real terms. The corresponding increase in gross domestic product in the same quarter was 6.8%.

Total factor income inflow into Hong Kong, estimated at $223.8 billion in the third quarter and equivalent to 49.3% of gross domestic product in that quarter, rose 17.8% over a year earlier.

Meanwhile, total factor income outflow, estimated at $229.9 billion in the third quarter and equivalent to 50.6% of gross domestic product of the same period, went up 21.3% over a year earlier.

Taking the inflow and outflow together, a net external factor income outflow of $6.1 billion was recorded.

The Mainland continued to be the largest source of Hong Kong's external factor income inflow in the third quarter, accounting for 37.4%, followed by the British Virgin Islands, with a share of 31.9%.

The Mainland and the British Virgin Islands remained the most important destinations for external factor income outflow, accounting for 30% and 25.3%.