Hong Kong recorded a $106.6 billion surplus in its balance of payment account - 25.3% of GDP - in the third quarter, compared to $143.1 billion in the second quarter, the Census & Statistics Department says.

Of the major balance of payment components, there was a current account surplus of $27.5 billion compared to $44.5 billion in the second quarter. A net inflow of financial non-reserve assets amounting to $52.2 billion was also recorded.

The current account recorded a surplus of $27.5 billion in the third quarter, smaller than the $77.7 billion recorded in the same period last year.

The visible trade deficit rose from $41.4 billion in the third quarter last year to $65.9 billion in this year's third quarter.

The invisible trade surplus dropped from $98.1 billion to $90.8 billion. A combined visible and invisible trade surplus of $24.8 billion was recorded in the third quarter, down on the $56.8 billion seen in the same period last year.

Capital transfers

A net inflow of capital transfers was estimated at $12.3 billion, as compared with a net inflow of $6.9 billion in the second quarter.

An overall net inflow of financial non-reserve assets amounting to $52.2 billion was recorded in the third quarter, against a net inflow of $72.2 billion in the second quarter.

External debt

At the end of September, Hong Kong's gross external debt amounted to $5.11 trillion. 

Compared with the end of June, gross external debt increased by $218.1 billion. This was attributable to the increases in external debt of the banking sector, direct investment debt liabilities (inter-company lending) and external debt of other sectors which were larger than the decreases in external debt of the Monetary Authority and the Government.