HONG KONG - Hong Kong's Gross National Income (GNI) increased by 9.6 percent in the first quarter of 2024 from a year earlier, said the Census and Statistics Department on Monday.

The special administrative region's GNI, the total income earned by Hong Kong residents from engaging in various economic activities, reached HK$831 billion ($106 billion) at current market prices.

The Gross Domestic Product (GDP), estimated at HK$769.7 billion at current market prices in the same quarter, recorded a 7.1 percent increase over a year earlier.

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After netting out the effect of price changes over the same period, the city’s GNI increased by 6.3 percent in real terms in the first quarter of 2024 from a year earlier, while the corresponding GDP increased by 2.7 percent in real terms

After netting out the effect of price changes over the same period, the city’s GNI increased by 6.3 percent in real terms in the first quarter of 2024 from a year earlier, while the corresponding GDP increased by 2.7 percent in real terms.

The Chinese mainland continued to be the largest source of the SAR's total primary income inflow in the first quarter, accounting for 40.5 percent, the department said.

The city’s total inflow of primary income, which mainly comprises investment income, was estimated at HK$494.9 billion in the first quarter or equivalent to 64.3 percent of GDP, up 14 percent over a year earlier.

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Meanwhile, the total primary income outflow, estimated at HK$433.6 billion in the first quarter and equivalent to 56.3 percent of GDP in that quarter, also increased by 9.9 percent over a year earlier, according to the department.