Hong Kong`s GNP grew 3.4 percent in first quarter
Hong Kong’s Census and Statistics Department has reported that the region’s gross national product (GNP) increased by 3.4 percent in real terms in the first quarter of 2001 year-on-year, achieving HK$316.8 billion (US$40.6 billion)
External factor income flows continued to be sizeable, with the inflows and outflows each amounting to approximately 30 percent of gross domestic product (GDP) in the quarter, with GDP amounting to an estimated at HK$304.8 billion.
Total factor income inflow into Hong Kong decreased 9.3% year-on-year, levelling out at an estimated HK$98.2 billion, with total factor income outflow declining by 13.0 percent to HK$86.2 billion.
Within total factor income inflow, direct investment income (DII) tumbled by 19.4 percent, largely on the back of a slowdown in the East Asian economies, the government statement said.
Within total factor income outflow, DII decreased by 15.5 percent in the first quarter of 2001 from a year earlier on a more moderate economic growth.
