Table 2 Hong Kong's Balance of Payments Sub-account Components:
  Current Account
            HK$ million

  1999 1999 1999 1999 2000 2000
Standard Components Annual 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr

Current Account(1) 81,799 11,781 30,154 27,982 10,288 12,152
      Credit(2) 2,015,822 485,359 539,227 555,715 522,826 564,071
      Debit(2) -1,934,023 -473,578 -509,073 -527,733 -512,538 -551,919
             
   Goods -24,501 -7,431 -1,068 -7,241 -19,344 -19,329
         Credit 1,355,529 326,978 368,964 373,374 340,265 382,526
         Debit -1,380,030 -334,409 -370,032 -380,615 -359,609 -401,855
             
   Services 90,433 19,028 24,423 32,170 23,754 28,172
         Credit 287,883 65,947 76,647 81,410 73,324 77,635
         Debit -197,450 -46,919 -52,224 -49,240 -49,570 -49,463
      Transportation services, credit 93,241 22,318 24,696 25,408 23,905 26,634
      Transportation services, debit -49,729 -12,350 -13,679 -12,695 -11,935 -14,132
      Travel, credit 52,986 12,284 12,835 14,921 13,242 15,290
      Travel, debit -102,189 -24,366 -26,339 -23,272 -25,353 -23,743
      Other services, credit 141,656 31,345 39,116 41,081 36,177 35,711
      Other services, debit -45,532 -10,203 -12,207 -13,272 -12,282 -11,588
             
   Factor income 27,276 2,923 9,716 6,021 9,226 6,378
         Credit 366,919 91,069 92,244 99,560 108,264 102,759
         Debit -339,642 -88,146 -82,528 -93,539 -99,038 -96,381
             
      Investment income, credit 366,807 91,046 92,225 99,539 108,245 102,746
             
         Direct investment income 133,369 32,695 33,388 40,686 45,136 41,483
            Dividends and distributed branch profits 62,110 13,574 9,159 31,877 11,735 18,358
            Reinvested earnings and
               undistributed branch profits
62,774 17,447 22,131 6,265 31,637 21,587
            Income on debt (interest) 8,486 1,675 2,098 2,544 1,764 1,538
             
         Portfolio investment income 91,035 24,315 23,761 20,367 23,922 23,463
            Income on equity 24,463 7,527 7,708 3,274 6,474 5,126
            Income on bonds and notes 59,919 15,337 14,453 15,168 15,573 16,452
            Income on money market instruments 6,652 1,450 1,600 1,925 1,875 1,886
             
         Other investment income 142,403 34,036 35,076 38,486 39,186 37,799
             
      Investment income, debit -339,530 -88,123 -82,509 -93,518 -99,019 -96,368
             
         Direct investment income -204,108 -51,761 -51,868 -61,971 -73,771 -62,297
            Dividends and distributed branch profits -94,843 -27,302 -11,789 -41,159 -26,249 -26,646
            Reinvested earnings and
               undistributed branch profits
-100,167 -21,910 -37,824 -18,941 -45,828 -33,161
            Income on debt (interest) -9,099 -2,549 -2,256 -1,870 -1,695 -2,490
             
         Portfolio investment income -26,583 -8,510 -4,424 -8,557 -2,989 -11,554
            Income on equity -19,961 -6,823 -2,847 -6,941 -1,228 -9,976
            Income on bonds and notes -4,324 -1,243 -1,075 -819 -1,284 -1,234
            Income on money market instruments -2,298 -443 -502 -798 -477 -345
             
         Other investment income -108,839 -27,852 -26,217 -22,990 -22,259 -22,516
             
      Compensation of employees, credit 112 23 19 21 20 13
      Compensation of employees, debit -112 -23 -19 -21 -20 -13
             
   Current transfers -11,409 -2,740 -2,917 -2,968 -3,347 -3,069
         Credit 5,492 1,365 1,372 1,371 973 1,152
            General government 0 0 0 0 0 0
            Other sectors 5,492 1,365 1,372 1,371 973 1,152
         Debit -16,901 -4,105 -4,288 -4,339 -4,321 -4,221
            General government -1,286 -320 -322 -324 -324 -326
            Other sectors -15,615 -3,785 -3,966 -4,015 -3,997 -3,895

Notes : (1) In accordance with the Balance of Payments accounting rules, a positive value for the balance figure in the current account represents a surplus whereas a negative value represents a deficit.
  (2) In a Balance of Payments account, every external transaction is presented by two entries, a credit and a debit. In the current account, exports of goods and services, factor income inflows and transfers from abroad are credit entries, while imports of goods and services, factor income outflows and transfers to abroad are debit entries.