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Hong Kong Q2 Current Account Surplus Widens

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Tuesday, the Census & Statistics Department announced that Hong Kong's current account surplus amounted to HK$46.1 billion in the second quarter, up from the HK$32.3 billion surplus in the corresponding period of the previous year. In the first quarter, the city had a surplus of HK$43 billion.

The widening of the current account surplus was largely due to a decrease in the visible trade deficit and a decline in the invisible trade surplus. Further, a decrease in the net inflow of external factor income and a continued net outflow of current transfers contributed to a larger surplus

Total trade surplus expanded to HK$30.4 billion in the second quarter from HK$17.8 billion surplus in the same quarter of the preceding year. The visible trade deficit decreased to HK$39.4 billion from HK$62.0 billion a year ago. The invisible trade surplus decreased to HK$69.7 billion from HK$79.8 billion.

In the second quarter, current transfers amounted to a net outflow of HK$5.8 billion in the quarter, smaller than a net outflow of HK$7.5 billion in the year-ago period.

(Market News Provided by RTTNews)

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