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Financial News: Hong Kong Current Account Surplus Shrinks In Q1

Hong Kong Current Account Surplus Shrinks In Q1

06/22/2018 - 06:16:00 (RTTNews)

(RTTNews) - Hong Kong's current account surplus decreased in the first quarter from a year ago, figures from the Census and Statistics Department showed Friday.

The current account surplus fell to HK$16.3 billion in the March quarter from HK$20.2 billion in the same period last year. However, the surplus increased from HK$16.0 billion in the fourth quarter.

The goods trade deficit widened to HK$76.9 billion in the first quarter from HK$56.6 billion a year ago. At the same time, the surplus on services trade rose to HK$74.5 billion from HK$61.8 billion.

The primary income surplus climbed from HK$19.8 billion to HK$24.1 billion. On the other side, the negative balance in the secondary income widened to HK$5.5 billion from HK$4.9 billion.

The capital account deficit was HK$75 million versus HK$59.0 million. At the same time, the financial account deficit rose markedly to HK$44.5 billion from HK$12.1 billion.

During the first quarter, overall balance of payment showed a surplus of HK$73.8 billion versus HK$73.5 billion in the fourth quarter of 2017.

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