Monday, June 25, 2007

BVI is 2nd largest source for Hong Kong, accounting for 22.2% in Q1

The Census & Statistics Department of Hong Kong has released the data that indicates the British Virgin Islands as one of the top destinations for Hong Kong's external factor income outflow and inflow in the 1st quarter of 2007.

According to the Census & Statistics Department, comparing Hong Kong's GNP with a year earlier, it rose 11.9% to $397.7 billion in the 1st quarter of 2007.

During the period, the GDP, estimated at $370.3 billion, recorded the growth of 6.6%. Accordingly, the value of Hong Kong's GNP was larger than that of Hong Kong's GDP by $27.4 billion in the 1st quarter, which represents a net external factor income inflow of the same amount and equivalent to 7.4% of GDP in the 1st quarter. Within total factor income inflow, direct investment income rose 28.8%, portfolio investment income grew 17.5% and other investment income – 43.7%. As to total factor income outflow, within it, direct investment income grew 15%, portfolio investment income and other investment income grew 13.6% and 24% respectively.

Analysed by country/territory, the British Virgin Islands was 2nd only to China, which remained the largest source of Hong Kong's external factor income inflow in the 1st quarter, accounting for 27.9%. The BVI had external factor income inflow that accounted for 22.2%. It was followed by the United Kingdom and the United States, at a share of 9.5% and 8.9% respectively.

As to Hong Kong's external factor income outflow in the same period, China and the BVI continued to be the most important destinations with quite insignificant difference – China accounted for 24.5%, while the BVI accounted for 23.2%. The two leaders were followed by the Netherlands, accounting for 10.6%, and the United States accounting for 7.1%.

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