Balance of Payments surplus reaches a whopping $23.6b

This represents almost 5% of the country's gross domestic product.

According to a release, Hong Kong recorded a $23.6 billion surplus in its Balance of Payments account in the year’s third quarter, representing 4.8% of gross domestic product, according to figures released by the Census & Statistics Department.

A current-account surplus of $33.7 billion was recorded, with a net outflow of financial non-reserve assets amounting to $54.5 billion.

With imports of goods rising faster than exports, the visible trade deficit rose from $60.1 billion in last year’s third quarter to $99.9 billion in this year’s third quarter.

The invisible trade surplus rose to $135.9 billion, as exports of services increased faster than imports. Overall, a combined visible and invisible trade surplus of $36 billion was recorded in the third quarter.

For factor income flows, the external factor income inflow amounted to about $244.7 billion while outflow stood at about $238.7 billion, yielding a net inflow of $6.1 billion in the third quarter.