Wednesday, March 26, 2008

HK's BoP account posts a 7.1% growth in 2007

Hong Kong's balance of payments (BoP) account, an integrated statistical statement of an economy's external transactions with the rest of the world, posted a surplus of HK$114.5 billion in 2007, or a 7.1% growth of its gross domestic product (GDP), announced the Hong Kong Special Administrative Region (HKSAR) government on Tuesday.

In 2006, the city recorded a surplus of HK$46.7 billion (US$5.99 billion) in its BoP account, representing a 3.2% of its GDP, according to the HKSAR.

In the fourth quarter of 2007, the city had a surplus of HK$78.3 billion, and the reserve assets correspondingly added HK$78.3 billion, compared to a surplus of HK$13.9 billion in the third quarter.

The current account surplus for the whole year of 2007 was HK$213.7 billion, with the visible trade deficit leaping to HK$153.7 billion and the invisible trade surplus soaring to HK$325.2 billion.

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