HK balance of payment deficit hits 1.6 billion dollars

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Last updated at: (Beijing Time) Wednesday, December 31, 2003

HK balance of payment deficit hits 1.6 billion dollars

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Hong Kong's balance of payments account recorded a deficit of 12.5 billion Hong Kong dollars (1.6 billion US dollars), at 3.9 percent of GDP in the third quarter, as compared to 21.7 billion Hong Kong dollars (2.8 US dollars), at 7.5 percent in the second quarter.

At the end of September, Hong Kong government's external debt remained at zero, according to the Hong Kong government press release on Tuesday.

The current account surplus widened considerably to 42.2 billion Hong Kong dollars (5.4 billion US dollars), at 13.2 percent of GDP, in the period, as inbound tourism and related service exports saw a sharp turnaround from the setback brought bySevere Acute Respiratory Syndrome, aided by the launch of the individual visit scheme for Chinese mainland visitors in July.

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