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Financial News: Hong Kong Current Account Surplus Rises In Q2

Hong Kong Current Account Surplus Rises In Q2

09/21/2017 - 06:52:00 (RTTNews)

(RTTNews) - Hong Kong's current account surplus grew in the three months ended June, mainly due to an increase in the net inflow of primary income, figures from the Census and Statistics Department showed Thursday.

The current account surplus rose to HK$16.4 billion in the second quarter from HK$15.0 billion in the same period last year. During the first quarter, the surplus was HK$16.9 billion.

The goods trade deficit widened notably to HK$68.8 billion in the second quarter from HK$57.4 billion a year ago. At the same time, the surplus on services trade increased marginally to HK$39.6 billion from HK$39.3 billion.

The primary income surplus climbed markedly from HK$15.3 billion to HK$50.4 billion. On the other side, the negative balance in the secondary income narrowed to HK$4.7 billion from HK$5.3 billion.

The capital account deficit was HK$74 million versus HK$57.0 million. At the same time, the financial account balance turned to a deficit of HK$45.5 billion from a surplus of HK$8.9 billion.

During the second quarter, overall balance of payments showed a surplus of HK$76.1 billion compared with a deficit of HK$16.09 billion in the corresponding period of 2016.

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