Hong Kong posts $30bn BOP surplus in fourth quarter

Visible trade deficit rises to $88.9bn in fourth quarter 2010 as imports of goods increasing faster than exports.

Hong Kong recorded a $30.1 billion surplus in its balance of payments account in the last quarter of 2010, representing 6.3% of gross domestic product, according to figures released by the Statistics Department on Tuesday.

A current-account surplus of $32.6 billion was recorded, with net outflow of financial non-reserve assets amounting to $30.8 billion against a net outflow of $53.6 billion in the third quarter.

With imports of goods increasing faster than exports, the visible trade deficit rose from $68.2 billion in the fourth quarter of 2009 to $88.9 billion in last year’s fourth quarter.

The invisible trade surplus rose from $100.3 billion in the fourth quarter of 2009 to $128.8 billion in the same quarter last year, as exports of services increased faster than imports of services. Overall, a combined visible and invisible trade surplus of $39.8 billion was recorded in last year’s fourth quarter.

For factor income flows, the external factor income inflow and outflow amounted to $227.4 billion and $227.9 billion, yielding a net outflow of $500 million.