488
APPENDICES
APPENDIX 7
(Chapter 4: The Economy)
Hong Kong's Balance of Payments Account
Standard Components
$ Million
1999
2000 *
2001 *
Current Account (1)
89,088
69,471
93,338
Goods
-24,501
-63,832
-64,970
Services
90,755
124,548
135,282
Income
34,777
21,768
36,137
Current transfers
-11,943
-13,013
-13,110
Capital and Financial Account (1)
-83,374
-57,863
-85,717
Capital and financial non-reserve assets (net change) (2)
-5,507
20,459
-49,187
Capital transfers
-13,812
-12,044
-9,059
Financial non-reserve assets (net change)(2)
8,305
32,503
-40,128
Direct investment
40,737
19,767
108,036
Portfolio investment
256,812
190,782
-309,317
Financial derivatives
Other investment
Reserve assets (net change) (2)
78,999
1,871
39,141
-368,243
-179,917
122,013
-77,867
-78,321
-36,530
Net errors and omissions (3)
Overall Balance of Payments
-5,714
-11,609
-7,621
77,867
78,321
36,530
(in surplus)
(in surplus)
(in surplus)
Notes: (1) In accordance with the Balance of Payments accounting rules, a positive value for the balance figure in the current account represents a surplus whereas a negative value represents a deficit. For the capital and financial account, a positive value indicates a net capital and financial inflow and a negative value indicates a net outflow. As increases in external assets are debit entries and decreases are credit entries, a negative value for net change in reserve assets represents a net increase and a positive value represents a net decrease.
(2) The estimates on net change in reserve and non-reserve assets under the Balance of Payments framework are transaction figures. Effects
from valuation changes (including price changes and exchange rate changes) and reclassifications are excluded.
(3) In principle, the net sum of credit entries and debit entries is zero. In practice, discrepancies between the credit and debit entries may
*
however occur for various reasons as the data are collected from many sources. Equality between the sum of credit entries and debit entries is brought about by the inclusion of a balancing item which reflects net errors and omissions.
Figures are subject to revision later on.
Source: Balance of Payments Branch (1), Census and Statistics Department
(Enquiry Telephone No.: 2116 8677)