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Wednesday, October 31, 1973
MORE DETAILED ESTIMATES OF GROSS DOMESTIC PRODUCT
Expected To Be Ready Early In 1975
The Financial Secretary, the Hon. Philip Haddon-Cave, said today
that more detailed estimates of Gross Domestic Product for a number of
years, using the income approach, are now being made.
It was hoped, he added, that the estimates would be available
early in 1975.
By then, the result of the forthcoming Industrial Production
Census, covering manufacturing, mining and quarrying and electricity, gas
and water, would also be available.
He added that this would enable the Census and Statistics Department
to calculate estimates of net output or value added by each sector of
the economy.
Mr. Haddon-Cave was replying to a question by Mr. Wilfred Wong
at the Legislative Council this afternoon.
He recalled that at the end of February this year, preliminary
estimates of Gross Domestic Product based on expenditure for the years
1966 to 1971 were published for the first time.
These, he said, were accompanied by a report by an experienced
national income statistician from the United Kingdom showing his independently
prepared estimates, using the income approach, for the years 1970 and 1971.
The Financial
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