The Census and Statistics Department (C&SD) released September 21 the preliminary figures of constant price Gross Domestic Product (GDP) by economic activity for the second quarter of 2007.
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.
Constant price GDP by economic activity enables analysis of the growth profiles of individual economic sectors in real terms, by removing the effect of price changes. It also enables analysis of the contributions of different economic activities or sectors to the overall economic growth in real terms.
GDP increased by 6.9% in real terms in the second quarter of 2007 over a year earlier, compared with the 5.7% growth in the first quarter.
Analysed by constituent sector and on a year-on-year comparison, net output in all the service activities taken together rose by 7.7% in real terms in the second quarter of 2007 over a year earlier, compared with the growth of 7.8% in the first quarter.
Net output in the wholesale, retail and import and export trades, increased by 8.5% in real terms in the second quarter of 2007 over a year earlier, compared with the 7.9% increase in the first quarter. The growth was mainly attributable to the robust growth in external trade and offshore trade. Also contributed was the solid growth in local consumer demand.
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