People shop for Christmas items at a market in Hong Kong on Dec 12, 2022. (PETER PARKS / AFP)
HONG KONG – Hong Kong's gross national income increased by 0.3 percent to HK$792.7 billion ($101.96 billion) in the third quarter of this year from a year earlier, data from the Census and Statistics Department showed.
The gross domestic product was estimated at HK$729.8 billion last quarter, falling by 0.2 percent over the same period.
Total primary income inflow into Hong Kong, which mainly comprises investment income, was estimated at HK$480.2 billion and equivalent to 65.8 percent of GDP. It represented an increase of 7.8 percent compared to the previous year
The value of GNI was larger than that of the GDP by HK$62.8 billion in the third quarter of 2022, which was equivalent to 8.6 percent of GDP in that quarter, mainly attributable to a net inflow of investment income, according to the government.
After excluding the effect of price changes over the same period, the GNI fell by 2.6 percent in real terms in the third quarter of this year from a year earlier.
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The corresponding GDP in the same quarter fell by 4.5 percent in real terms.
Total primary income inflow into Hong Kong, which mainly comprises investment income, was estimated at HK$480.2 billion and equivalent to 65.8 percent of GDP. It represented an increase of 7.8 percent compared to the previous year.
Meanwhile, total primary income outflow, estimated at HK$417.4 billion in the third quarter and equivalent to 57.2 percent of GDP – increased 7.9 percent year-on-year.
The Chinese mainland continued to be the largest source of the Hong Kong Special Administrative Region's total primary income inflow during the period, accounting for 47.2 percent. This was followed by the British Virgin Islands at 16.8 percent.
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As for the total primary income outflow, the Chinese mainland and the BVI remained the most important destinations, accounting for 32.8 percent and 24.1 percent, respectively.