Hong Kong's Balance of Payments and International Investment Position statistics for second quarter of 2025
The Census and Statistics Department (C&SD) released today (September 19) the preliminary Balance of Payments (BoP) and International Investment Position (IIP) statistics of Hong Kong for the second quarter of 2025. This release also included the preliminary External Debt (ED) statistics of Hong Kong for the same period.
I. Balance of Payments
Hong Kong recorded a BoP surplus of $105.5 billion (13.4% of Gross Domestic Product (GDP)) in the second quarter of 2025. Reserve assets correspondingly increased by the same amount. This was against a BoP deficit of $85.4 billion (10.7% of GDP) in the first quarter of 2025.
Current account
The current account recorded a surplus of $92.6 billion (11.8% of GDP) in the second quarter of 2025. This reflects that Hong Kong's savings was greater than its investment, enabling Hong Kong to accumulate external financial assets (such as equity securities or debt securities) as a buffer against global financial volatilities. Compared with the current account surplus of $98.5 billion (13.0% of GDP) in the second quarter of 2024, the decrease in surplus was mainly due to the increase in goods deficit, largely offset by the increase in net inflow of primary income.
The goods deficit increased to $38.0 billion in the second quarter of 2025, compared with $14.1 billion in the same quarter of 2024. Over the same period, the services surplus increased slightly from $27.5 billion to $30.0 billion. The primary income inflow and outflow amounted to $624.6 billion and $517.6 billion respectively, thus yielding a net inflow of $107.0 billion in the second quarter of 2025, compared with a net inflow of $90.2 billion in the same quarter of 2024.
Financial account
An overall increase in financial non-reserve assets amounting to $21.1 billion (2.7% of GDP) was recorded in the second quarter of 2025, compared with an overall increase of $245.8 billion (30.7% of GDP) in the first quarter of 2025. The overall increase recorded in the second quarter of 2025 was due to the net increase in portfolio investment, largely offset by the net decreases in other investment, direct investment and financial derivatives.
In the second quarter of 2025, reserve assets increased by $105.5 billion, as against a decrease of $85.4 billion in the first quarter of 2025.
II. International Investment Position
At the end of the second quarter of 2025, both Hong Kong's external financial assets and liabilities stood at a very high level, amounting to $57,244.3 billion (17.7 times of GDP) and $38,879.7 billion (12.0 times of GDP) respectively, a typical feature of a prominent international financial centre.
Hong Kong's net external financial assets (i.e. assets minus liabilities) amounted to $18,364.7 billion (5.7 times of GDP) at the end of the second quarter of 2025, compared with $16,922.9 billion (5.3 times of GDP) at the end of the first quarter of 2025. Hong Kong's net external financial assets to GDP ratio is one of the largest in the world, which provides the economy with a strong cushion against sudden external shocks.
III. External Debt
At the end of the second quarter of 2025, Hong Kong's gross ED amounted to $15,463.6 billion (4.8 times of GDP). Compared with $14,948.8 billion (4.7 times of GDP) at the end of the first quarter of 2025, gross ED increased by $514.8 billion. This was attributable to the increases in ED of all sectors, in particular the banking sector, intercompany lending in direct investment and other sectors.
As one of the world's major financial centres, Hong Kong has a significant amount of ED held against the local banking sector arising through normal banking businesses. At the end of the second quarter of 2025, 53.1% of Hong Kong's ED was attributable to the banking sector. Other ED mainly consisted of ED of other sectors (29.1%) and debt liabilities in direct investment (intercompany lending) (16.6%).
Further information
BoP is a statistical statement that systematically summarises, for a specific time period (typically a year or a quarter), the economic transactions of an economy with the rest of the world (i.e. between residents and non-residents).
IIP is a balance sheet showing the stock of external financial assets and liabilities of an economy at a particular time point. The difference between the total value of external financial assets and liabilities is the net IIP of the economy, which provides a measure of net financial claims on non residents plus gold bullion held as monetary gold.
Gross ED, at a particular time point, is the outstanding amount of those actual current, and not contingent, liabilities that are owed to non-residents by residents of an economy and that require payment of principals and/or interests by the debtors at some time points in the future.
Table 1 presents Hong Kong's BoP. Table 2 presents the detailed current account and capital account, while Table 3 presents the detailed financial account. Table 4 shows Hong Kong's IIP, and Table 5 shows Hong Kong's ED.
Statistics on BoP, IIP and ED for the second quarter of 2025 are preliminary figures, which are subject to revision upon the availability of more data.
The latest statistical tables of BoP (including seasonally adjusted current account), IIP and ED can be downloaded at the website of the C&SD (www.censtatd.gov.hk/en/scode260.html). Analysis of the statistics, together with the conceptual and methodological details, are presented in the publication Balance of Payments, International Investment Position and External Debt Statistics of Hong Kong, Second Quarter 2025 published by the C&SD. Users can download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1040001&scode=260).
For enquiries about the BoP, IIP and ED statistics, please contact the Balance of Payments Section of the C&SD (Tel: 3903 6979 or email: bop@censtatd.gov.hk).
Source: AI-found images
FEHD releases fourth batch of gravidtrap indexes for Aedes albopictus in May
The Food and Environmental Hygiene Department (FEHD) today (May 21) released the fourth batch of gravidtrap indexes and density indexes for Aedes albopictus in May, covering 12 survey areas, as follows:
District |
Survey Area |
May 2026 |
First Phase Gravidtrap Index |
First Phase Density Index |
Eastern |
Shau Kei Wan and Sai Wan Ho |
9.1% |
1.4 |
Islands |
Tung Chung |
2.0% |
1.0 |
Kowloon City |
Hung Hom and To Kwa Wan |
6.7% |
1.5 |
Tai Po |
Tai Po East |
2.2% |
2.0 |
Tai Po West |
15.5% |
1.0 |
Tuen Mun |
Tuen Mun South |
9.1% |
1.4 |
District |
Survey Area |
May 2026 |
Area Gravidtrap Index |
Area Density Index |
Central and Western |
Kennedy Town and Shek Tong Tsui |
16.8% |
1.3 |
Eastern |
Chai Wan |
15.4% |
1.0 |
North Point and Quarry Bay |
18.9% |
1.4 |
Southern |
Aberdeen and Ap Lei Chau |
20.8% |
1.7 |
Sha Tin |
Sha Tin Town Centre and Fo Tan |
18.3% |
1.4 |
Tsuen Wan |
Tsuen Wan Town |
6.9% |
2.3 |
The fourth batch of gravidtrap indexes for Aedes albopictus in May includes First Phase Gravidtrap Indexes covering six survey areas and Area Gravidtrap Indexes covering six survey areas. Among which, six survey areas recorded gravidtrap indexes above 10 per cent, while Aberdeen and Ap Lei Chau in Southern District recorded a gravidtrap index above 20 per cent. Meanwhile, the gravidtrap indexes of six survey areas, namely Kennedy Town and Shek Tong Tsui in Central and Western District; North Point and Quarry Bay in Eastern District; Shau Kei Wan and Sai Wan Ho in Eastern District; Aberdeen and Ap Lei Chau in Southern District; Tai Po East in Tai Po District; and Tuen Mun South in Tuen Mun District, have recorded a decrease as compared to the indexes recorded in the last survey period, reflecting the progress of relevant mosquito control work.
With reference to the data from the past few years, the gravidtrap indexes start to rise from April or May every year. The actual timing and extent of the rise are affected by factors like weather conditions and rainfall. The average temperature and rainfall recorded in April this year were higher than those in the same period last year, creating favourable conditions for mosquito growth and breeding. As a result, the rise in gravidtrap indexes occurred earlier this year. With the increase in rainfall in May, the gravidtrap indexes are expected to rise further.
For survey areas which recorded indexes exceeding 10 per cent, in accordance with the mechanism implemented by the FEHD in response to the chikungunya fever (CF) situation (i.e. strengthening mosquito control work in areas with a gravidtrap index between 10 per cent and 20 per cent, instead of 20 per cent or above under the original mechanism), the FEHD is collaborating with relevant departments and stakeholders to identify locations with high mosquito infestations and carry out intensive and targeted mosquito control measures. The FEHD has initiated two prosecutions against the relevant construction site contractors following the discovery of mosquito breeding at construction sites in Tai Po District and Southern District. Moreover, following the discovery of stagnant water or stagnant water containers in a park, a construction site, a private housing estate, a clinic and a private premises in Tai Po District, Central and Western District, as well as Southern District, the FEHD has issued five statutory notices to the responsible persons-in-charge, requiring the clearance of such items within a specified timeframe. The FEHD, the relevant departments and stakeholders are following up on the mosquito control work, and will also organise exhibitions, distribute leaflets and posters, and notify residential estates that have subscribed to the gravidtrap Rapid Alert System, advising property management agents and residents to stay vigilant and work together in taking mosquito prevention and elimination measures. In addition, the FEHD will strengthen the monitoring of the gravidtrap index in the areas to review the effectiveness of the mosquito control work.
Public participation is crucial to the effective control of mosquito problems. The FEHD appeals to members of the public to continue to work together in strengthening personal mosquito control measures, including:
tidy up their premises and check for any accumulation of water inside the premises;
remove all unnecessary water collections and eliminate the sources;
check household items (those placed in outdoor and open areas in particular), such as refuse containers, vases, air conditioner drip trays, and laundry racks to prevent stagnant water;
change water in flower vases and scrub their inner surfaces thoroughly, and remove water in saucers under potted plants at least once a week;
properly cover all containers that hold water to prevent mosquitoes from accessing the water;
properly dispose of articles that can contain water, such as disposable meal boxes and empty cans; and
scrub drains and surface sewers with alkaline detergent at least once a week to remove any mosquito eggs.
Starting in August 2025, following the completion of the surveillance of individual survey areas, and once the latest gravidtrap index and the density index are available, the FEHD has been disseminating relevant information through press releases, its website and social media. It aims to allow members of the public to quickly grasp the mosquito infestation situation and strengthen mosquito control efforts, thereby reducing the risk of CF transmission.
Following recommendations from the World Health Organization and taking into account the local situation in Hong Kong, the FEHD sets up gravidtraps in districts where mosquito-borne diseases have been recorded in the past, as well as in densely populated places such as housing estates, hospitals and schools to monitor the breeding and distribution of Aedes albopictus mosquitoes, which can transmit CF and dengue fever. At present, the FEHD has set up gravidtraps in 62 survey areas of the community, with a surveillance period of two weeks. During the surveillance period, the FEHD will collect the gravidtraps once a week. After the first week of surveillance, the FEHD will immediately examine the glue boards inside the retrieved gravidtraps for the presence of adult Aedine mosquitoes to compile the Gravidtrap Index (First Phase) and Density Index (First Phase). At the end of the second week of surveillance, the FEHD will instantly check the glue boards for the presence of adult Aedine mosquitoes. Data from the two weeks of surveillance will be combined to obtain the Area Gravidtrap Index and the Area Density Index. The gravidtrap and density indexes for Aedes albopictus in different survey areas, as well as information on mosquito prevention and control measures, are available on the department's webpage (www.fehd.gov.hk/english/pestcontrol/dengue_fever/Dengue_Fever_Gravidtrap_Index_Update.html#).
FEHD releases fourth batch of gravidtrap indexes for Aedes albopictus in May Source: HKSAR Government Press Releases
FEHD releases fourth batch of gravidtrap indexes for Aedes albopictus in May Source: HKSAR Government Press Releases
FEHD releases fourth batch of gravidtrap indexes for Aedes albopictus in May Source: HKSAR Government Press Releases
FEHD releases fourth batch of gravidtrap indexes for Aedes albopictus in May Source: HKSAR Government Press Releases
FEHD releases fourth batch of gravidtrap indexes for Aedes albopictus in May Source: HKSAR Government Press Releases
