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The Census and Statistics Department (C&SD) released today (December 20) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for the third quarter of 2010.
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 6.8% in real terms in the third quarter of 2010 over a year earlier, compared with the 6.5% increase in the second 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 6.9% in real terms in the third quarter of 2010 over a year earlier, compared with the 6.2% growth in the second quarter.
Net output in the wholesale, retail and import and export trades, restaurants and hotels sector grew by 15.2% in real terms in the third quarter of 2010 over a year earlier, following the increase of 16.3% in the second quarter. The year-on-year growth in this sector remained notable as the strong momentum of trade activities extended well into the third quarter.
Net output in the transport, storage and communications sector increased by 4.4% in real terms in the third quarter of 2010 from a year earlier, compared with the 10.5% rise in the second quarter. This sector continued to benefit from the robust trade flows.
Net output in the financing, insurance, real estate and business services sector increased by 3.6% in real terms in the third quarter of 2010 over a year earlier, faster than the 0.9% increase in the second quarter. This was mainly due to the regain of impetus in the local stock market towards the end of the third quarter of 2010 after the consolidation in the second quarter.
Net output in the community, social and personal services sector increased by 4.2% in real terms in the third quarter of 2010 over a year earlier, compared with the 3.6% rise in the second quarter.
Net output in the local manufacturing sector grew by 4.7% in real terms in the third quarter of 2010 from a year earlier, compared with the increase of 2.5% in the second quarter.
Net output in the electricity, gas and water sector recorded a decrease of 1.9% in real terms in the third quarter of 2010 over a year earlier, as against the 0.3% marginal increase in the second quarter.
As for the construction sector, net output increased by 15.4% in real terms in the third quarter of 2010 over a year earlier, compared with the increase of 16.2% in the second quarter.
Further information
The year-on-year percentage changes of GDP by economic activity in real terms from the third quarter of 2009 to the third quarter of 2010 are shown in Table 1 (Text version of 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 third quarter of 2010 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 (address: www.censtatd.gov.hk/). More detailed figures can also be found at the Hong Kong Statistics section of the website.
Ends/Monday, December 20, 2010
Issued at HKT 16:32
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