22-10 Hong Kong's Balance of Payments Account
HK$ million
Standard Components①	1998#	1999#
Current Account②	22474	72026
Goods	-60667	-24501
Services	66743	80660
Income	28762	27276
Current Transfers	-12364	-11409
Capital and Financial Account②	-30347	-76215
Capital Transfers	-18452	-13765
Direct Investment	-17016	24615
Portfolio Investment	171052	250472
Financial Derivatives	25374	95475
Other Investment	-245059	-358872
Reserve Aassets (Net Change)③	53754	-74140
Net Errors and Omissions	7873	4189
Overall Balance of Payments	-53754	74140
	(in deficit)	(in surplus)
Notes:①In accordance with the Balance of Payments accounting rules, a net credit for a standard component is represented by a positive value, and a net debit a negative value. ②A positive value for the balance figure in the current account represents a surplus whereas a negative value represents a deficit. For the capital and financial account, a positive value indicates a net capital and financial inflow and a negative value indicates a net outflow. As increases in external assets are debit entries and decreases are credit entries, a negative value for net change in reserve assets represents a net increase and a positive value represents a net decrease. ③The estimates on net change in reserve assets under the Balance of Payments framework are transaction figures. Effects from valuation changes (including price changes and exchange rate changes) and reclassifications are excluded. # Subject to revision later on.