Hong Kong, China

Trade

In 2017, Hong Kongs economy was valued at US$ 341.2 billion and comprised largely of private consumption (67.0 percent), followed by net domestic fixed capital formation (22.3 percent), government consumption (9.9 percent), and net exports of services (7.9 percent), while net exports of goods negated by 7.0 percent. Its top industries include trading and logistics (21.6 percent), financial services (17.7 percent), professional services and other producer services (12.5 percent), and tourism (4.7 percent).

The countrys total exports increased by 8 percent, from US$ 460.0 billion to US$ 496.9 billion. Imports, on the other hand, had a higher of 8.7 percent, from US$ 513.9 billion to US$ 558.6 billion.

Hong Kongs major exports largely comprised of electronics (66.2 percent). Other top commodities include clothing (2.9 percent), food (1.8 percent), watches and clocks (1.7 percent), textile yarn and fabrics (1.5 percent), toys and games (1.3 percent), and articles of precious jewellery (1.3 percent). Mainland China was the largest destination, having 54.3 percent of the goods in 2017, followed by EU (9.0 percent), USA (8.5 percent), ASEAN (7.3 percent), India (4.1 percent), and Japan (3.3 percent).

In terms of the trade in services, travel comprised the largest portion with 33.3 percent. Transport (28.6 percent), financial services (18.1 percent), and other business services (6.0 percent) followed. Mainland China was also the largest destination for services at 40.0 percent. USA (14.2 percent), UK (8.2 percent), Japan (4.2 percent), and Singapore (4.0 percent) complete the list of the major export markets for 2017.

Investment

As of 2016, the FDI stocks reached US$ 1,626 billion. This was an increase from the previous years US$ 1,592 billion. The inflow, however, declined from US$ 174.3 billion to US$ 117.4 billion.

Majority of the FDI stocks was contributed by the British Virgin Islands with 34.2 percent. Mainland China seconded with a relatively large share of 25.7 percent. Cayman Islands (7.7 percent), Netherlands (6.3 percent), Bermuda (4.7 percent), USA (2.5 percent), and Japan (1.8) were the other major investors.

In 2017, there were 3,752 businesses with regional headquarters and regional offices located in Hong Kong, displaying a slight increase from 3,731 in 2016. Most of these businesses have parent companies located in USA (19.3 percent), Japan (17.6 percent), Mainland China (9.3 percent), UK (9.1 percent), Germany (6.1 percent), France (4.9 percent), and Singapore (4.0 percent).

Import/export trade, wholesale and retail comprised 52.0 percent of the major business lines in 2017. Other lines include professional, business and education services (15.6 percent), financing and banking (14.4 percent), transportation, storage and courier services (7.2 percent), information technology services (4.8 percent), and manufacturing (2.6 percent).

Reference:

Hong Kong Trade Development Council (2018). Economic and Trade Information on Hong Kong. www.hktdc.com/Research, retrieved on 28 August 2018.