Hong Kong's Gross National Income and external primary income flows for the first quarter of 2026
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Hong Kong's GNI, which denotes the total income earned by Hong Kong residents from engaging in various economic activities, increased by 5.1% in the first quarter of 2026 over a year earlier to $925.7 billion at current market prices. The Gross Domestic Product (GDP), estimated at $843.9 billion at current market prices in the same quarter, recorded a 5.3% increase over a year earlier. The value of GNI was larger than GDP by $81.8 billion in the first quarter of 2026, which was equivalent to 9.7% of GDP in that quarter, mainly attributable to a net inflow of investment income.
After netting out the effect of price changes over the same period, Hong Kong's GNI increased by 3.9% in real terms in the first quarter of 2026 over a year earlier. The corresponding GDP in the same quarter increased by 5.9% in real terms.
Hong Kong's total inflow of primary income, which mainly comprises investment income, estimated at $529.6 billion in the first quarter of 2026 and equivalent to 62.8% of GDP in that quarter, recorded an increase of 1.6% over a year earlier. Meanwhile, total primary income outflow, estimated at $447.8 billion in the first quarter of 2026 and equivalent to 53.1% of GDP in that quarter, also increased by 1.4% over a year earlier.
As for the major components of investment income inflow, direct investment income (DII) increased by 2.8% over a year earlier, mainly due to the increase in earnings of some prominent local enterprises from their direct investment abroad. Portfolio investment income (PII) recorded an increase of 7.4% over a year earlier, mainly attributable to the increase in interest income received by resident investors from their holdings of non-resident debt securities.
Regarding the major components of investment income outflow, DII increased by 2.5% over a year earlier, mainly due to the increase in earnings of some prominent multinational enterprises from their direct investment in Hong Kong. PII increased significantly by 29.4%, mainly attributable to the increase in interest payout to non-resident investors from their holdings of resident debt securities.
Analysed by country/territory, Chinese Mainland continued to be the largest source of Hong Kong's total primary income inflow in the first quarter of 2026, accounting for 38.8%. This was followed by the British Virgin Islands (BVI), with a share of 16.0%. Regarding total primary income outflow, Chinese Mainland and the BVI remained the most important destinations in the first quarter of 2026, accounting for 30.1% and 20.6% respectively.
Further Information
GDP and GNI are closely related indicators for measuring economic performance. GDP is a measure of the total value of production of all resident producing units of an economy. GNI denotes the total income earned by residents of an economy from engaging in various economic activities, irrespective of whether the economic activities are carried out within the economic territory of the economy or outside.
Figures of GNI and primary income flows analysed by income component from the second quarter of 2024 to the first quarter of 2026 are presented in Table A, while selected major country/territory breakdowns of primary income inflow and outflow for the same quarters are presented in Tables B(1) and B(2) respectively.
Statistics on GDP and GNI from 2024 onwards and primary income flows from 2025 onwards are subject to revision when more data are incorporated.
More detailed statistics are given in the report "Gross National Income and External Primary Income Flows, First Quarter 2026". Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1040005&scode=250).
For enquiries about GNI and related statistics, please contact the Balance of Payments Branch (2) of the C&SD (Tel: 3863 2291 or email: gni@censtatd.gov.hk).
Ends/Tuesday, June 16, 2026
Issued at HKT 16:30
Issued at HKT 16:30
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