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Hong Kong's resident income shrinks by 7.5% in Q2

Xinhua | Updated: 2020-09-16 10:42
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People wearing face masks walk in the Central area of Hong Kong, South China, on July 27, 2020. [Photo/Xinhua]

HONG KONG -- Hong Kong's Gross National Income (GNI) decreased by 7.5 percent in the second quarter of 2020 from a year earlier, according to the Census and Statistics Department of the Hong Kong Special Administrative Region government.

Hong Kong's GNI, the total income earned by Hong Kong residents from engaging in various economic activities, stood at 698.7 billion Hong Kong dollars ($90 billion) at current market prices.

The gross domestic product (GDP), estimated at 637.9 billion Hong Kong dollars at current market prices in the same quarter, recorded a 8.1 percent decrease over the same period.

After netting out the effect of price changes over the same period, Hong Kong's GNI decreased by 8.2 percent in real terms in the second quarter of 2020 from a year earlier. The corresponding GDP in the same quarter decreased by 9.0 percent in real terms.

The mainland continued to be the largest source of Hong Kong's total primary income inflow in the second quarter of 2020, accounting for 39.6 percent, the department said.

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