ENG-2013 — Page 450

Table 3

(Chapter 3: The Economy)

Balance of Payments (BoP)(1)

Appendices

6

HK$ Billion

2008

2012@

2013@

Current account balance(2)

255.8

32.2

43.8

Goods

194.8

-146.7

-203.3

Services

-21.0

169.8

225.6

Primary income

100.5

29.5

42.2

Secondary income

-18.4

-20.3

-20.7

Capital and financial account balance(2)

-254.7

-67.7

-40.5

Capital account

-2.0

-1.4

-1.6

Financial non-reserve assets(3)

-28.8

122.7

19.0

Direct investment

77.4

-102.6

-115.5

Portfolio investment

-281.1

-31.6

-333.6

Financial derivatives

Other investment

Reserve assets(3)

Net errors and omissions(4)

63.3

15.2

8.1

111.7

241.7

460.1

-224.0

-188.9

-57.9

-1.1

35.5

-3.3

Overall Balance of Payments

224.0

188.9

57.9

(in surplus)

(in surplus)

(in surplus)

Notes:

(1) BOP is a statistical statement that systematically summarises, for a specific time period (typically a year or a quarter), the economic transactions of an economy with the rest of the world (ie between residents and non-residents). A complete BOP account comprises two broad accounts: (a) the current account; and (b) the capital and financial

account.

(2) In accordance with the accounting rules adopted in compiling BoP, a positive value for the balance figure in the current account represents a surplus whereas a negative value represents a deficit. In the capital and financial account, a positive value indicates a net financial inflow while a negative value indicates a net outflow. As increases in external assets are debit entries and decreases are credit entries, a negative value for the reserve assets represents a net increase while a positive value represents a net decrease.

(3) The estimates of reserve and non-reserve assets under the BOP framework are transaction figures. Effects of valuation changes (including price changes and exchange rate changes) and reclassifications are not taken into

account.

(4) In principle, the net sum of credit entries and debit entries is zero. In practice, discrepancies between the credit and debit entries may occur for various reasons as the relevant data are collected from many sources. Equality between the sum of credit entries and that of 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, Census and Statistics Department

(For enquiries, please call 2116 8677)

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Table 4

(Chapter 3: The Economy)