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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 2013.
GDP figures by economic activity show the value of production in respect of 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, expressed in terms of chain volume measures, enable analysis of the output growth profiles of individual economic sectors in real terms, by removing the effect of price changes.
According to the preliminary figures, overall GDP increased by 2.8% in real terms in the first quarter of 2013 over a year earlier, virtually the same as that in the fourth quarter of 2012.
Analysed by constituent services sector and on a year-on-year comparison, net output in respect of all the services activities taken together increased by 2.9% in real terms in the first quarter of 2013 over a year earlier, compared with the 2.7% growth in the fourth quarter of 2012.
Net output in the import and export, wholesale and retail trades sector grew by 5.8% in real terms in the first quarter of 2013 over a year earlier, compared with the increase of 3.8% in the fourth quarter of 2012. While the external sector remained modest in the first quarter of 2013 in face of unsteady global environment, the picking up in the retail business in the same period rendered support to the growth of the whole sector.
Net output in the financing and insurance sector increased by 4.5% in real terms in the first quarter of 2013 over a year earlier, following the 1.1% rise in the fourth quarter of 2012. The faster growth in net output of this sector was underpinned by the improved financial activities amid some stabilisation in global financial conditions.
Net output in the accommodation services (covered hotels, guesthouses, boarding houses and other establishments providing short term accommodation) and food services sector increased by 3.5% in real terms in the first quarter of 2013 over a year earlier, compared with the 4.6% increase in the fourth quarter of 2012.
Net output in the transportation, storage, postal and courier services sector decreased slightly by 0.5% in real terms in the first quarter of 2013 from a year earlier, as against the 3.9% rise in the fourth quarter of 2012.
Net output in the information and communications sector rose by 5.7% in real terms in the first quarter of 2013 over a year earlier, following the growth of 4.6% in the fourth quarter of 2012.
Net output in the real estate, professional and business services sector recorded virtually no change in real terms in the first quarter of 2013 over a year earlier, as against the increase of 2.2% in the fourth quarter of 2012.
Net output in the public administration, social and personal services sector grew by 1.8% in real terms in the first quarter of 2013 over a year earlier, compared with the 1.6% rise in the fourth quarter of 2012.
As for sectors other than the services sectors, net output in the local manufacturing sector increased by 0.5% in real terms in the first quarter of 2013 over a year earlier, compared with the 1.3% increase in the fourth quarter of 2012.
Net output in the electricity, gas and water supply, and waste management sector dropped by 1.6% in real terms in the first quarter of 2013 from a year earlier, after the 0.4% decrease in the fourth quarter of 2012.
Net output in the construction sector increased by 1.0% in real terms in the first quarter of 2013 over a year earlier, moderated significantly from the 16.1% growth in the fourth quarter of 2012.
Further information
The year-on-year percentage changes of GDP by economic activity in real terms from the first quarter of 2012 to the first quarter of 2013 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 of chain volume measures of GDP by economic activity for the first quarter of 2013 are only preliminary at this stage. When more data become available, the preliminary figures will be revised accordingly. 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/Thursday, June 20, 2013
Issued at HKT 16:30
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