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China   The goods deficit increased in Hong Kong

Hong Kong saw deficit of $2 billion

Hong KongHong Kong recorded a BoP deficit of $2 billion (as a ratio of 0.3% to GDP) in the third quarter of 2016.

This compares with a deficit of $16.1 billion (as a ratio of 2.7% to GDP) in the second quarter of 2016. Reserve assets correspondingly decreased by the same amount ($2.0 billion) in the third quarter of 2016.

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READ MORE Hong Kong saw $20 billion deficit in June

On a year-on-year comparison, the current account recorded a surplus of $45.6 billion (as a ratio of 7.2% to GDP) in the third quarter of 2016, compared with a surplus of $50.2 billion (as a ratio of 8.2% to GDP) in the same quarter of 2015, mainly due to the reduced goods and services balance.

The goods deficit increased to $11.8 billion in the third quarter of 2016, compared with the $6.3 billion in the same quarter of 2015. This was due to a larger increase in imports of goods relative to that in respect of exports of goods.

Over the same period, the services surplus decreased to $47.2 billion in the third quarter of 2016, compared with the $57.4 billion in the same quarter of 2015. This was due to a decrease in exports of services and an increase in imports of services.

The overall balance on goods and services recorded a surplus of $35.5 billion in the third quarter of 2016, compared with a surplus of $51.0 billion in the same quarter of 2015.

The primary income inflow and outflow amounted to $317.4 billion and $302.1 billion respectively, thus yielding a net inflow of $15.3 billion in the third quarter of 2016, compared with a net inflow of $4.6 billion in the same quarter of 2015.

The secondary income inflow and outflow amounted to $2.6 billion and $7.8 billion respectively, resulting in a net outflow of $5.2 billion in the third quarter of 2016, compared with a net outflow of $5.5 billion in the third quarter of 2015.

On a seasonally adjusted quarter-to-quarter comparison basis, the current account credit and the current account debit in the third quarter of 2016 increased by 0.8% and 2.5% respectively from the second quarter of 2016.




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