1、1 理解本地生產總值及本地居民民總收入總 的概念 Understanding the Concepts of Gross Domestic Product and Gross National Income 引言 Introduction 本地生產總值和本地居民總收入（前稱本地居民生產總值1）均是重要的經濟指標。很多國家或地區也有編製這兩項指標，以反映當地的整體經濟情況。 Gross Domestic Product (GDP) and Gross National Income (GNI) (formerly known as Gross National Product (GNP)1) a
2、re both important economic indicators compiled by many countries or territories for reflecting their overall economic situation. 香港的本地生產總值及本地居民總收入統計是根據聯合國出版的二零零八年國民經濟核算體系的國際標準編製而成的。 Statistics on GDP and GNI of Hong Kong are compiled in accordance with international standards as stipulated in the Sy
3、stem of National Accounts 2008 published by the United Nations. 一個經濟體內居民的概念 Concept of residents of an economy 在理解本地生產總值及本地居民總收入統計時，居民的概念非常重要。實際上，一個經濟體內的居民包括個人及機構。根據國際標準，以個人而言，居民指在該經濟體的經濟領域內通常居留的人，與其國籍無關。如某人已在該經濟體居留至少十二個月或打算這樣The concept of “resident” is crucial in understanding the GDP and GNI stat
4、istics. Practically, residents of an economy include individuals and organisations. According to international standards, for individuals, residents refer to those who normally stay in the economic territory of the economy, irrespective of their nationality. If an individual has 1 g2597g5109g2927g46
5、38g2124g6012g1015g4534g1665g1076g4086g5422g6223g1937g2874g1892g907g2336g500g2997g914g4255g907g914g1283g912g1044g2822g2409g3549g1937g552g1153g1254g1754g1159g1171g3170g5492g2422g553g962g1519g4480g2241g552g1153g1254g1754g1159g5492g1295g917g553g500g1072g2990g4947g1665g1153g4966g2241g3782g2123g1295g917g1
6、937g2160g4785g502 1 According to international recommendations and in line with the practices of other economies, GNP in Hong Kong has been renamed as GNI since September 2012 to emphasise the fact that this indicator is essentially a measure of income. g332 做，即被視為在該經濟體通常居留。以機構而言，居民指在該經濟體的經濟領域內通常經營業
7、務的機構。經濟領域指該經濟體的政府有效管治的地域。概念上，個人和機構的居民身分以其主要經濟g1395g2683g973g1032g1378為g1641據。 stayed in the economy for at least 12 months or intends to do so, he / she is considered as normally staying in that economy. For organisations, residents refer to those which ordinarily operate in the economic territory o
8、f the economy. The economic territory is the geographic territory under the effective control of the government of that economy. Conceptually, the residence status of individuals and organisations depends on their centre of predominant economic interest. g5520g1647g1648g4581，一g1244在香港g960g1378的g1126
9、籍家g2533g3831g960被視為香港居民。一g3796在香港經營的g1126g4183g4620g1353分g1353被g2266g1747為香港的居民機構。 For example, a foreign domestic helper working in Hong Kong is regarded as a resident of Hong Kong. A branch of a foreign bank operating in Hong Kong is defined as a resident organisation. 一g912g912g910年g910月一g1042，香港
10、成為g973g3694人民g1221和國的g2653g1393g1353政區。根據一國兩g1675g2458g2046，香港與g973國內地g3774g1353的g1196g1840視g1378國際g1196g1840（如g3300g2068g3753g1840及g1850務g3753g1840）。 On 1 July 1997, Hong Kong became a Special Administrative Region of the Peoples Republic of China. Under the “One Country, Two Systems” principle, tr
11、ansactions with the mainland of China are treated as international transactions (e.g. trade in goods and trade in services). 本地生產總值的基本概念 Basic concept of GDP 本地生產總值指一個經濟體的g1804有居民生產g3394g1359，在一個指g1747的g3514g3796內（一g2771是一年或一g1745），g1154g1292g2856g1712g1747g4183本g2627g2747的生產總值。 GDP is a measure of
12、the total value of production of all resident producing units of an economy in a specific period (typically a year or a quarter), before deducting the consumption of fixed capital. 3 本地生產總值g1105g2997g927個g2399計算，即生產面g501收入面及開支面。這g1197g6217g1186g1105g2997g972g1237g1601g2123g2286本地生產總值的g3220成g3325分。理g
13、4949上，g1117有一個本地生產總值g4775g1271。g972g4216，g1175g1837g1172以編製有關g4775g1271的g4183g2577g1648g3981g972g1237，g2170g1308g2997g972g1237g2399計算的本地生產總值g1105g2760出g3164一g1636統計g2529g5776。 GDP may be compiled by using three approaches, viz. the “production approach”, the “income approach” and the “expenditure ap
14、proach”. These approaches also represent how components within the GDP can be viewed from different perspectives. In theory, there is only one GDP figure. However, since the data sources used in the compilation of relevant statistics are not the same, some statistical discrepancy may exist among the
15、 GDP estimates compiled under different approaches. g2997生產g2399計算 g2997生產g2399計算，本地生產總值指一個經濟體的g1804有居民生產g3394g1359在一個指g1747的g3514g3796內的g3139產值總g5776，是與g3139產值而非生產總g5776g2284關。如g1856g2962g1804有生產g3394g1359的生產總g5776g5697g3394地g1091g2822g1648，當g973g3950g2635及很多重g4932的計算，g1804g2995的g4775g1271g1632g972
16、g2760有g3904g4096地反映該經濟體的總生產。g3139產值是以增加價值g1648g3782g2123，其g1747g4096是生產總額g3559g1104中間投產消耗（即指在生產g4216g3635g973g1804g2627g2747的g3300g2068及g1850務的g4669值）。g1538一生產g3394g1359均g3950為g4698g1091g4669值g3774g1353生產。為g5577g1389重g4932計算，一個經濟體產值總g5776的計算方法是將所有居民生產單位的Production approach Under the production appro
17、ach, GDP is an aggregate measure of the total value of net output of all resident producing units of an economy in a specific period. It relates to net output, not gross output. One cannot simply add up gross output of all producing units to get a meaningful figure on total production of the economy
18、, because there will then be a lot of double counting. Net output is measured by value added, which is defined as the value of gross output less the value of intermediate consumption (that is the value of goods and services used up in the course of production). Each producing unit works to “add valu
19、e”. Summation of the value added of all resident producing units gives an aggregate measure of the total output of 4 g4698g1091g4669值g1091g2822g1648。以g928g4313一g4581g1844g4698g1091g4669值的概念g506 the economy which is free of double counting. The concept of value added is illustrated by Chart 1 below:
20、g4340g4966g2220g3782 g4669g2422g2220g3782 g528g1403g1998g5298g1800g2284g5930g1955g529 Physical flow Value flow (i.e. money or equivalent) A = B + C + D A = B + C + D A B = C + D A B = C + D = g4698g1091g4669g2422 = Value added 某生產g3394g1359的g4698g1091g4669值 = 生產總g5776 g973g3796g1515產g2627g2747 = A B
21、g505而 Value added of a certain producing unit = Gross output Intermediate consumption = A B; and 本地生產總值是g1804有生產g3394g1359g4698g1091g4669值的總和。 GDP is the aggregate of value added of all producing units. 上g4313是g2284g4345g5697g1007的g3476g2378。g3164實g973，g972g1237g1353業的g4206g1378g1486g1284g3327g972g1
22、237。g2170g1308，g3300g2068及g1850務g4669值的計算g1041g1892g1197g3950g1250g1242g1353業g976g3796的g2529g1393而有g1804g972g1237。 The above chart is a relatively simplified description. In reality, the modes of operation of different industries differ. Thus, even how values of goods and services are counted may di
23、ffer from one industry to another. Producing unit Input (1): Intermediate consumption Chart 1 Gross output (B) Value of goods and services consumed(A) Value of goods and services produced Input (2): Labour Input (3): Capital and entrepreneurship (C) Return to labour: “Compensation of employees” g117
24、1g3170g3394g1359 g1515g917g41g50g42g59g33g973g3796g1515g3170g2627g2747 g1171g3170g5492g5776 (B) g1804g2627g2747g1937g3300g2068g1015g33g1850g2893g4669g2422 (A) g3170g2068g1015g1850g2893g4669g2422 g1515g917g41g51g42g59g33g3374g960 g1515g917g41g52g42g59g33g4183g1153g1015g1214g3952g2510g5436g4206(D) g36
25、63g4183g1153g1015g1214g3952g2510 g5436g4206g1937g1251g3412g506 g552g4086g5436g2278g5033g5492g5776g553 (C) g3663g3374g960g1937g1251g3412g506g33g552g4287g2473g3412g4223g553 g4313g907 (D) Return to capital and entrepreneurship: “Gross operating surplus” 5 要g1881g3904的是，政府和非g1323g1395機構g1197g6054生產g3394
26、g1359。它們生產g1378最終g1172途的g1850務（如社g3950福g1395g501醫療及教育g1850務）供社g3950g1242g2266整體使g1172，g1804生產的g1850務g4669值是按g1515入成本（包括員g960薪酬及其他營g4206成本）計算的。 It should be noted that government and non-profit institutions are also regarded as producing units. They produce final services (e.g. social welfare, medica
27、l and educational services) for collective consumption by the community. The values of services produced are compiled based on input costs (including salary payment to staff and other operating costs). g2997生產g2399g2286本地生產總值，g1105以分析g972g1237經濟g1353業（製造業g501建造業g501經銷業g501商g1172g1850務業等）在本地生產總值g973的
28、g2284g4345比重，換言g976g1105反映g972g1237g1353業g4345本地生產總值的g2284g4345貢獻。 Viewing GDP from the production approach, one can conduct analysis on the relative shares of different economic sectors (manufacturing, construction, distributive trades, business services, etc.) in the GDP or equivalently, the relat
29、ive contribution of different sectors to the GDP. g2997收入g2399計算 Income approach 收入g2399g1041g1892是計算一個經濟體內的居民生產g3394g1359分發予g1242生產要素（勞g960g501g4183本及企業家營g4206）的收g2683總和，g1378為後者g2997生產g3300g2068及提供g1850務g1804獲g2995的收益回報。要素收g2683包括僱員報酬（包括g960g4183g501薪金及其他僱員福g1395）及企業的經營盈餘總g5776。 Under this approac
30、h, GDP is calculated as the sum of incomes for various factors of production (labour, capital and entrepreneurship) distributed by the resident producing units in an economy, as rewards to their production of goods and provision of services. Factor incomes include “compensation of employees” (compri
31、sing wages, salaries and other employee benefits) and “gross operating surplus” of enterprises. g4313一g6217g1186一個生產g3394g1359的g4698g1091g4669值g1197等g1837其僱員報酬和經營盈餘In Chart 1, it is shown that the value added of a producing unit is also equal to the sum of its compensation of 6 總g5776的總和。g2997收入g239
32、9計算的g1601g2123g1648g2286，本地生產總值g1378為g1804有生產g3394g1359的g4698g1091g4669值，g1197等g1837在整個經濟體內僱員報酬和g1804有居民生產者的經營盈餘總g5776的總和。 employees and gross operating surplus. Viewed from the angle of income approach, GDP, being the value added of all producing units, is thus equal to the sum of the compensation
33、of employees at the economy-wide level and the gross operating surplus of all resident producers. g2997收入g2399分析本地生產總值，g1105以研究僱員報酬與企業經營盈餘總g5776的g2284g4345比重。一g2771而言，僱員報酬g4345經營盈餘總g5776的比率在g972g1237的經濟g1353業g1105g2760有g1804g972g1237。 Analysing GDP from the income approach, one can study the relativ
34、e shares of compensation of employees and gross operating surplus of enterprises. In general, the ratio of compensation of employees to gross operating surplus may vary among different economic sectors. g2997開支g2399計算 Expenditure approach g2997開支g2399計算，我們g2997g1804g1172的g3300g2068及g1850務的g4183g2577
35、開始，追溯有關本地g4345製造該等g3300g2068及g1850務的貢獻。我們先g2962g1378為最終用途的g3300g2068及g1850務g4669值g1091g2822g1648。該等g3300g2068及g1850務的最終開支g1105分為以g928的類g1393g506 Under the expenditure approach, we work backwards from the goods and services available for use and trace the domestic contributions in creating the goods
36、and services. We first add up the values of goods and services put to final use. Final expenditures on such goods and services are classified into the following categories: （甲）私人g2627費開支（C）， (a) Private consumption expenditure (C), （乙）政府g2627費開支（G）， (b) Government consumption expenditure (G), （丙）本地g
37、4183本g1486成總g5776（I）， 及 (c) Gross domestic capital formation (I), and 7 （丁）g3300g2068出口（Xg）及g1850務輸出（Xs）g1804g3220成的出口（X）。 (d) Exports of goods (Xg) and exports of services (Xs), making up exports (X). g2995出總g4775（CGIX）後，即最終總需求，再g3559g1104g3300g2068g3774口（Mg）及g1850務輸入（Ms）的g3774口總值（M），以g1292g2856進口成
38、分。 Having got the total (C + G + I + X), which is the total final demand, we then remove the import contents from it by deducting the value of imports (M), which comprises imports of goods (Mg) and imports of services (Ms). g1250g1308GDP = C + G + I + X M。在g1308我們要g1881g3904C, G, I 及 Xg1538一個g3220成g
39、3325分均有其g3774口成分（包括直接及g3796接的g3774口成分）。g972g4216，g1175g1837g972g1105g2760把g3774口成分g2997個g1393g3220成g3325分g973g1292g2856，g3774口成分是整體地g1292g2856，g1041g1892是g3559g1104M。 Hence GDP = C + G + I + X M. We note here that each of the components C, G, I and X has import contents (including both direct and in
40、direct import contents) but it is not possible to remove such individually. The import contents are removed collectively by the subtraction of M. 有關g1292g2856g3774口成分的概念和g1041g1892的更詳細g4581g1844載g1837附件。 The concept and method for deducting the import contents are illustrated in further detail in th
41、e Annex. 要g1881g3904的是，g2997開支g2399計算的本地生產總值是以g1378最終g1172途的g3300g2068及g1850務計算。如g3300g2068及g1850務g1117g1172g1378生產g4216g3635的g973g3796g1515產g2627g2747，g2046g972應計算在內，否g2046g3950引致重覆計算。It should be noted that the GDP by expenditure approach is compiled based on goods and services for final use. Good
42、s and services used as intermediate consumption for production should not be included; otherwise there will be double counting. 8 對本地生產總值的比率 Ratio to GDP 以當時g4669格計算的本地生產總值很多時g3950被g1172g1378分母，與其他變g4775g1378比較，以g6217g1186後者g2284g4345的經濟重要性。g5520g1647g1648g4581，政府開支g4345本地生產總值的比率反映政府的g2284g4345規模g50
43、5g3300g2068及g1850務的出口總值g4345本地生產總值的比率反映一個經濟體的開放g3635g2123。 The level of GDP at current prices is often used as a denominator for comparison with other variables in order to provide an indication of the relative economic significance of the latter. For example, government spending as a ratio to GDP r
44、eflects the relative size of the government; the ratio of total value of exports of goods and services to GDP provides an indication of the degree of “openness” of an economy. 在香港，g3300g2068及g1850務的出口總值g4345本地生產總值的比率普遍g3327高g1837100%。這g4775據g1632無g972妥g506一g2771人懷疑這高g1837100%的比率的g1105信g3635g2123，是g1
45、175g1837他們錯誤地把g3300g2068及g1850務的出口總值理解為本地生產總值的其g973一個g3220成g3325分。g972g4216，正如附件g1804g1186，g3300g2068及g1850務的出口總值g1632g972完全是本地生產總值的g3220成g3325分（或一g3325分），雖然偶爾為g1041便g3950有這樣的g4581g1892。g1250g1308，g3300g2068及g1850務的出口總值g4345本地生產總值的比率高g1837100%是完全g1105以接受的。g1175g1837香港是一個g1126向型的經濟體，g3300g2068及g1850務
46、的出口總值十分大，其g2284g4345本地生產總值的比率遠超100%。 A ratio between total value of exports of goods and services (X) and GDP of over 100% is normally observed for Hong Kong. There is nothing wrong with this observation: common doubt concerning the validity of this ratio being greater than 100% is very much due to
47、misinterpretation of X being a “component” of GDP. However, it is shown in the Annex that X is not exactly a “component” (or “part”) of GDP although for convenience, it is sometimes put that way. It is thus totally acceptable to have a ratio between X and GDP of over 100%. As Hong Kong is an externa
48、lly oriented economy, the total value of X is very significant and the ratio of X to GDP well exceeds 100%. 9 以當時價格計算及以物量計算的本地生產總值 GDP at current prices and in volume terms 以當時g4669格計算及以物g3782計算的本地生產總值估計g4775g1271均有編製。Estimates of GDP at current prices and in volume terms are compiled. 以物g3782計算的本地生
49、產總值的變動（g1197即以實質計算的變動）反映在一個g3514g3796內g1804生產或購買的g3300g2068及g1850務g4775g3782與另一個g3514g3796g2284比的變動情況。 Changes in “volume measure of GDP” (also referred to as changes in real terms) reflect changes in the volumes of goods and services produced or purchased from one period to another. 概念上，以當時g4669格計算的本地生產總值隨時g3796的變動g1105被分解成兩個g3325分g506（i）g1804生產或購買的g3300g2068及g1850務的g4669格變動，及（ii）其物g3782的變動。要g3782g2123本地生產總值及其g3220成g3325分的物g3782g4698長，須撇g2856g4669格變動的影響。以物g3782計算的本地生產總值的按年變動提供一個g3782g2123某經濟體的實質g4698長的指標。Concep
