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Market Update: Hong Kong Current Account Switches to Surplus in Q1
Hong Kongs current account recorded a HKD 59.5 billion surplus in the first quarter of 2021, following a HKD 10.3 billion deficit in the same period of the previous year, accounting for 8.5 percent of GDP. The goods account shifted to a surplus of HKD 8.7 billion compared to a deficit of HKD 48.4 billion in 1Q 2020 and the services surplus expanded to HKD 34.6 billion from HKD 29.1 billion a year earlier. At the same time,the primary income surplus widened to HKD 21.5 billion from HKD 16.0 billion, while the secondary income gap narrowed to HKD 5.0 billion from HKD 7.0 billion. source: Census and Statistics Department, Hong Kong [/s2If]
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