ENG-2001 — Page 568

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)