HONG KONG 2004
Appendices *
Appendix 1 Appendix 2 Appendix 3 Appendix 4 Appendix 5 Appendix 6  
Appendix 6
TABLE Table 1 Table 2 Table 3 Table 4 Table 5 Table 6 Table 7 Table 8 Table 9 Table 10 Table 11 Table 12 Table 13 Table 14 Table 15 Table 16 Table 17 Table 18 Table 19 Table 20   CHART Chart 1
Table 21 Table 22 Table 23 Table 24 Table 25 Table 26 Table 27 Table 28 Table 29 Table 30 Table 31 Table 32 Table 33 Table 34 Table 35 Table 36 Table 37 Table 38 Table 39 Table 40 Table 41   Chart 2
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Table 3
(Chapter 3: The Economy)
 
Balance of Payments Account(1)
HK$ Billion
  1999   2003 @ 2004 @
Current Account Balance(2) 79.5   126.2   124.9  
  Balance on goods -24.5   -45.0   -72.5  
  Balance on services(3) 81.5   151.4   182.6  
  Net income flow(4) 34.5   34.1   30.3  
  Net flow in current transfers -11.9   -14.3   -15.4  
Capital and Financial Account Balance(2) -83.4   -179.1   -136.3  
  Net flow in capital transfers -13.8   -8.3   -2.1  
  Net change(5) in financial non-reserve assets 8.3   -163.2   -108.7  
    Direct investment 40.5   63.4   -44.4  
    Portfolio investment 256.8   -264.6   -251.3  
    Financial derivatives 79.2   78.3   48.8  
    Other investment -368.2   -40.2   138.2  
  Net change(5) in reserve assets -77.9   -7.6   -25.5  
Net Errors and Omissions(6) 3.8   52.9   11.4  
               
Overall Balance of Payments 77.9   7.6   25.5  
               
          (in surplus)   (in surplus)   (in surplus)  
 
 
Notes:
For details, please refer to the pamphlet series on Balance of Payments Statistics available on the Census and Statistics Department's website (http://www.info.gov.hk/censtatd/eng/statliteracy/booklet_index.html).
(1) A Balance of Payments (BoP) account is a statistical statement that systematically summaries, for a specific time period, the economic transactions of an economy with the rest of the world. A complete BoP account comprises (a) current account; and (b) capital and financial account.
(2) In accordance with the Balance of Payments accounting rules, a positive value for the balance figure in the current account represents a surplus whereas a negative value represents a deficit. For the capital and financial account, a positive value indicates a net capital and financial inflow and a negative value indicates a net outflow. As increases in external assets are debit entries and decreases are credit entries, a negative value for net change in reserve assets represents a net increase and a positive value represents a net decrease.
(3) Figures for 2003 and 2004 have been revised to incorporate the revised data on destination consumption expenditure of incoming visitors and travellers released by the Hong Kong Tourism Board.
(4) Figures have been revised with the adoption of an enhanced methodology based on more relevant data available.
(5) The estimates on net change in reserve and non-reserve assets under the Balance of Payments framework are transaction figures. Effects from valuation changes (including price changes and exchange rate changes) and reclassifications are excluded.
(6) In principle, the net sum of credit entries and debit entries is zero. In practice, discrepancies between the credit and debit entries may however occur for various reasons as the data are collected from many sources. Equality between the sum of credit entries and debit entries is brought about by the inclusion of a balancing item which reflects "net errors and omissions".
Source: Balance of Payments Branch (1), Census and Statistics Department.
(Enquiry Telephone No.: 2116 8677)
 
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