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The Census and Statistics Department (C&SD) released today (June 20) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for the first quarter of 2011.
GDP by economic activity shows the value of production for individual economic activities. The value of production is measured by net output or value added, which is calculated by deducting intermediate input consumed in the process of production from the gross value of output. Volume measures of GDP by economic activity enable analysis of the growth profiles of individual economic sectors in real terms, by removing the effect of price changes.
GDP increased by 7.2% in real terms in the first quarter of 2011 from a year earlier, compared with the 6.4% increase in the fourth quarter of 2010.
Analysed by constituent sector and on a year-on-year comparison, net output in all the service activities taken together increased by 7.0% in real terms in the first quarter of 2011 from a year earlier, compared with the 6.4% growth in the fourth quarter of 2010.
Net output in the import and export, wholesale and retail trades sector increased significantly by 14.0% in real terms in the first quarter of 2011 from a year earlier, faster than the 9.1% increase in the fourth quarter of 2010. The accelerated growth was attributable to the strong growth momentum of external trade regained in the first quarter.
Net output in the transportation, storage, postal and courier services sector increased further by 9.3% in real terms in the first quarter of 2011 from a year earlier, after the 6.6% growth in the fourth quarter of 2010. The strong growth in this sector was in tandem with the thriving trading activities.
Net output in the financing and insurance sector grew by 12.6% in real terms in the first quarter of 2011 from a year earlier, following the growth of 13.8% in the fourth quarter of 2010. This reflected the continued buoyancy in financial activities.
Net output in the accommodation and food services sector increased by 4.9% in real terms in the first quarter of 2011 from a year earlier, compared with the 4.1% rise in the fourth quarter of 2010.
Net output in the information and communications sector grew by 1.5% in real terms in the first quarter of 2011 from a year earlier, following the growth of 0.8% in the fourth quarter of 2010.
Net output in the real estate, professional and business services sector increased by 0.5% in real terms in the first quarter of 2011 from a year earlier, moderated from the 4.5% increase in the fourth quarter of 2010.
Net output in the public administration, social and personal services sector grew by 2.2% in real terms in the first quarter of 2011 over a year earlier, compared with the 1.8% increase in the fourth quarter of 2010.
Net output in the local manufacturing sector increased by 3.5% in real terms in the first quarter of 2011 from a year earlier, compared with the 5.7% rise in the fourth quarter of 2010.
Net output in the electricity, gas and water supply, and waste management sector decreased by 3.0% in real terms in the first quarter of 2011 from a year earlier, compared with the marginal increase of 0.1% in the fourth quarter of 2010.
As for the construction sector, net output increased by 20.3% in real terms in the first quarter of 2011 from a year earlier, similar to the growth of 19.8% in the fourth quarter of 2010.
Further information
The year-on-year percentage changes of GDP by economic activity in real terms from the first quarter of 2010 to the first quarter of 2011 are shown in Table 1. For enquiries about statistics on GDP by economic activity, please call the National Income Branch (2) of the C&SD at telephone number 2116 5115.
Figures on chain volume measures of GDP by economic activity for the first quarter of 2011 are only preliminary. When more data become available, the preliminary figures will be revised. Users may obtain a copy of this press release at the website of the C&SD (www.censtatd.gov.hk). More detailed figures can also be found at the Hong Kong Statistics section of the website.
Ends/Monday, June 20, 2011
Issued at HKT 16:36
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