Gross National Product grew to $379.6 billion in the third quarter, up 10.9% on the same period last year, slightly higher than the $379.3 billion Gross Domestic Product figure announced earlier.

The Census & Statistics Department said GNP rose 10.9% in real terms. The quarter saw total factor income inflow into Hong Kong, estimated at $158.2 billion, grow 29.5% over a year earlier, while total factor income outflow, estimated at $158 billion, saw a 16.4% year-on-year increase.

Within the total factor income inflow, direct investment income (DII) grew 26.7% over a year earlier, mainly due to increased earnings of some prominent local enterprises from investment abroad. Within total factor income outflow, DII rose 9.1%, largely attributable to increased earnings of some prominent multinational enterprises from investment in Hong Kong.

The Mainland continued to be the largest source of external factor income inflow in Q3, accounting for 27.9%. It was followed by the British Virgin Islands with a share of 18.7%, reflecting continued investment income inflow from the tax-haven economy. The islands and the Mainland were also the most important destinations for external factor income outflow in Q3, accounting for 15.4% and 21.7%.