This guide provides an overview of Hong Kong’s economy, including the country’s primary imports and exports.
Contents
Economy of Hong Kong Overview
Hong Kong is the 34th largest economy in the world in terms of its GDP of $363 billion. The country recently reported a negative trade balance of -$508 billion after deducting annual imports of $634 billion from its export total of $127 billion.
This former British colony became a special administrative region of China in 1997. Hong Kong is now governed under a “one country, two systems” principle, which means that China has given it a high degree of autonomy for at least 50 years from that handover date.
Hong Kong’s Top Exports
Here is a breakdown of the most important products exported by Hong Kong, both commodities and other notable exports.
Commodity Exports
- Gold – $12.1 billion
- Diamonds – $6.83 billion
- Scrap copper – $1.4 billion
- Silver – $1.37 billion
- Precious stones – $1.2 billion
If you’re interested in trading some of these commodities, you can jump to our list of recommended regulated brokers in at the end of the page.
Other Notable Exports
- Broadcasting Equipment – $10.4 billion
- Integrated Circuits – $6.89 billion
- Telephones – $5.71 billion
- Office Machine Parts – $4.08 billion
- Jewelry – $3.73 billion
The top export destinations of Hong Kong are China ($25.3 billion), India ($16 billion), Vietnam ($10.5 billion), Netherlands ($7.05 billion), and Macau ($6.26 billion).
Hong Kong’s Top Imports
Here is a breakdown of the most important products imported by Hong Kong, both commodities and other notable imports.
Commodity Imports
- Gold – $26.1 billion
- Diamonds – $19.6 billion
- Refined petroleum – $13.4 billion
- Platinum – $2.29 billion
- Silver – $1.46 billion
Other Notable Imports
- Integrated Circuits – $156 billion
- Broadcasting equipment – $48.6 billion
- Office machine parts – $35.7 billion
- Telephones – $21.5 billion
- Computers – $20.7 billion
GDP of Hong Kong
The GDP of Hong Kong is $363 billion and that results in a GDP per capita of $48,676. Between 2008 and 20018, Hong Kong recorded GDP growth of 65.4% and GDP per capita growth of %54.4%.
Details on Hong Kong’s Imports/Exports
Gold
Hong Kong is the 5th largest importer of gold, representing a market share of 8.58%. The total global gold trade, according to the latest reported figures in 2018, amounts to $305 billion.
Gold exports of $12.1 billion make Hong Kong the world’s 8th largest exporter of this precious metal. The biggest recipients of gold from Hong Kong are China (27.6%), the United Arab Emirates (13.1%), and Switzerland (17.4%).
Diamonds
Diamonds account for 5.4% of Hong Kong’s annual exports. Annual diamond exports of $6.83 billion place them 7th in the world with a 5.9% market share. India (22.8%) and Belgium-Luxembourg (14.3%) are the biggest exporters of diamonds.
Top destinations for Hong Kong’s diamond exports are India (49.5%), the United Arab Emirates (12%), and Belgium-Luxembourg (10.5%).
Silver
The total value of global silver shipments is $18.3 billion annually. Hong Kong is the fourth largest exporter with a 7.53% share. Silver exports and imports represent 0.099% of total world trade
A gradual decline in the global silver trade is continuing, with a decrease in exports of -1.3% reported between 2017 ($18.5 billion) and 2018 ($18.3 billion).
Rolled Tobacco
Hong Kong has a 2.3% share of an annual global export market worth $27 billion, making it the 14th largest exporter of rolled tobacco.
India is a major export destination for Hong Kong’s rolled tobacco shipments and accounts for 49.5% of its $629 million annual exports of this product.
Platinum
Global platinum exports total $32 billion annually and Hong Kong is ranked as the tenth-largest exporting country with a 1.09% market share.
Platinum makes up 0.28% of Hong Kong’s total exports. This represents trade of $351 million. However, platinum occupies a larger share of Hong Kong’s import market with imports of $2.29 billion.
Interesting Facts About Hong Kong
- Although Hong Kong has an iconic skyscraper skyline, 40% of the territory is a designated country park and nature reserve.
- Many apartment buildings avoid naming the fourth floor, moving from third to fifth. This number four is considered unlucky because the pronunciation of the word sounds like “death.”
- Hong Kong boasts one of the highest numbers of restaurants and cafes per capita in the world.
Interested in Trading Commodities?
Interested in trading gold, diamonds, copper, and other important commodities from Hong Kong? Start your research with reviews of these regulated brokers available in .
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Sources and Further Reading
- All figures are based on OEC 2018 calculations and projections unless otherwise stated.
- Learn more about the state of world government debt from our country debt clock pages.
- See our global economic indicator guide to more than 45 other countries.
- Get our full guide to trading commodities.
Also see our guides on stock, CFD, and commodity brokers to find out which online trading platforms are available in .
All currency is reported in US dollars.
