The Hong Kong Special Administrative Region's gross national income (GNI), which denotes the total income of the residents from engaging in various economic activities, rose by 7.1 percent in the fourth quarter of 2024 over a year earlier to HK$898.6 billion ($115.64 billion), prelimary data showed on Monday.

The gross domestic product estimated at HK$836.5 billion at current market prices in the same quarter recorded a 5.3 percent increase over a year earlier, according to prelimary statistics from the Census and Statistics Department.

The value of GNI was larger than GDP by HK$62.1 billion in the fourth quarter of 2024, which was equivalent to 7.4 percent of GDP in the quarter, mainly attributable to a net inflow of investment income, the department said.

After netting out the effect of price changes over the same period, Hong Kong’s GNI rose by 5.2 percent in real terms in the fourth quarter of 2024 over a year earlier. In real terms, the corresponding GDP in the same quarter increased by 2.4 percent, the data showed.

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For 2024 as a whole, the city's GNI increased by 7.5 percent year-on-year to HK$3,477.8 billion at current market prices.

The difference of HK$300.8 billion from the GDP for 2024, estimated at HK$3,177.0 billion, represented a net primary income inflow of the same amount and was equivalent to 9.5 percent of GDP in that year.

During the fourth quarter of 2024, Hong Kong's total inflow of primary income, which mainly comprises investment income, estimated at HK$496.8 billion and equivalent to 59.4 percent of GDP in that quarter, recorded an 8.1 percent rise over a year earlier.

Total primary income outflow, estimated at HK$434.7 billion in the same quarter, also increased by 4.9 percent year-on-year.

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The Chinese mainland continued to be the largest source of Hong Kong's total primary income inflow in the fourth quarter, accounting for 42 percent. This was followed by the British Virgin Islands, with a share of 17.6 percent, according to the data.

Regarding total primary income outflow, the mainland and the British Virgin Islands remained the most important destinations in the fourth quarter of 2024, accounting for 27.5 percent and 21.9 percent, respectively.