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HK 3Q Balance of Payments Deficit $23B w/ Current Account Surplus $120.8B
Recommend 8 Positive 1 Negative 14 |
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The Census and Statistics Department of Hong Kong (C&SD) released today the preliminary Balance of Payments (BoP) and International Investment Position (IIP) statistics of Hong Kong for 3Q24. This release also included the preliminary External Debt (ED) statistics of Hong Kong for the same period. Hong Kong recorded a BoP deficit of $23 billion (2.8% of GDP) in 3Q24. Reserve assets correspondingly decreased by the same amount. This compared with a BoP deficit of $62.7 billion (8.3% of GDP) in 2Q24. The current account recorded a surplus of $120.8 billion (14.9% of GDP) in 3Q24. This reflects that Hong Kong's savings was greater than its investment, enabling Hong Kong to accumulate external financial assets (such as equity securities or debt securities) as a buffer against global financial volatilities. AAStocks Financial News |
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