Hong Kong's fourth quarter gross national product rose 14.6% over a year earlier to $465.3 billion, the Census & Statistics Department says. Gross domestic product, estimated at $447.2 billion, was up 11.7%.

Compared with GDP, the value of GNP was larger by $18.1 billion, representing a net external factor income inflow of the same amount, and equivalent to 4.1% of GDP in the fourth quarter.

After netting out the effect of price changes, Hong Kong's GNP rose 9.4% in real terms. This was higher than the corresponding increase of 6.7% recorded for GDP in the same quarter.

Total factor income inflow into Hong Kong - estimated at $245.4 billion and equivalent to 54.9% of GDP - grew 35.4% over a year earlier.

Total factor income outflow - estimated at $227.3 billion and equivalent to 50.8% of GDP - also rose 29.5%.

Net Income inflow  

Taking the inflow and outflow together, a net external factor income inflow of $18.1 billion was recorded in the fourth quarter.

Within total factor income inflow, direct investment income rose 40.6%, portfolio investment income went up 18.1%, and other investment income surged 42.8%.

Within total factor income outflow, direct investment income grew 30.8%, portfolio investment dropped 0.7%, and other investment income rose 37.2%.

The Mainland continued to be the largest source of Hong Kong's external factor income inflow, accounting for 28.3%. This was followed by the British Virgin Islands with a share of 26%. Other major sources were the US at 8.6%, and the UK at 7%.

The Mainland and the British Virgin Islands were also the most important destinations for Hong Kong's external factor income outflow, accounting for 22.9% and 20% respectively. Other major destinations included the US at 11.3% and the Netherlands at 9.1%.

GNP for 2007 

For 2007, Hong Kong's GNP grew 11.4% over a year earlier to $1.6749 trillion. The difference of $62.3 billion from GDP, estimated at $1.6126 billion, represented a net factor income inflow of the same amount and equivalent to 3.9% of GDP in the year.