Gross Domestic Product up by 6.7%

25 Mar '08

3 min read

Net output in the transport, storage and communications sector increased by 7.4% in real terms in the fourth quarter of 2007 over a year earlier, compared with the increase of 6.7% in the third quarter. For 2007 as a whole, net output in this sector went up by 5.8% in real terms. The sustained growth in external trade underpinned the growth in transport and storage services.

Net output in the financing, insurance, real estate and business services sector increased by 15.5% in real terms in the fourth quarter of 2007 over a year earlier, compared with the 15.1% increase in the third quarter.

For 2007 as a whole, net output in this sector went up by 14.6% in real terms. The growth impetus came mainly from the robust performance of the financial sector, underpinned by the buoyant stock market activity in 2007.

Net output in the community, social and personal services sector increased by 1.5% in real terms in the fourth quarter of 2007 over a year earlier, following the 0.8% rise in the third quarter. For 2007 as a whole, net output in this sector increased by 1.3% in real terms.

Net output in the local manufacturing sector decreased by 0.3% in real terms in the fourth quarter of 2007 from a year earlier, compared with the decrease of 2.1% in the third quarter. For 2007 as a whole, net output in the manufacturing sector decreased by 1.5% in real terms.

Census and Statistics Department

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