Observatory of Economic Complexity

Flag Hong Kong

Econ Complexity (2018): 0.89, Rank 32 of 137

Product Exports (2018): $127B, Rank 34 of 222

Exports Per Capita (2018): $17k, Rank 59 of 219

Product Imports (2018): $634B, Rank 7 of 221

Imports Per Capita (2018): $85.1k, Rank 55 of 219

Service Exports (2018): $94.3B, Rank 9 of 88

Service Imports (2018): $52.3B, Rank 14 of 88

GDP (2018): $363B, CURRENT US$
Rank 34 of 196

GDP growth (2008 - 2018): 65.4%, CURRENT US$
Rank 62 of 196

GDP PC (2018): $48,676, CURRENT US$
Rank 17 of 196

GDP PC GROWTH (2008 - 2018): 54.4%, CURRENT US$
Rank 40 of 196

About

#permalink to section

Overview: In 2018 Hong Kong was the number 34 economy in the world in terms of GDP (current US$), the number 34 in total exports, the number 7 in total imports, and the number 32 most complex economy according to the Economic Complexity Index (ECI). In 2018, Hong Kong exported $127B and imported $634B, resulting in a negative trade balance of -$508B. In 2018, Hong Kong's exports per capita were $17k and its imports per capita were $85.1k.

Trade: The top exports of Hong Kong are Gold ($12.1B), Broadcasting Equipment ($10.4B), Integrated Circuits ($6.98B), Diamonds ($6.83B), and Telephones ($5.71B). The top imports of Hong Kong are Integrated Circuits ($156B), Broadcasting Equipment ($48.6B), Office Machine Parts ($35.7B), Gold ($26.1B), and Telephones ($21.5B).

Destinations: Hong Kong exports mostly to China ($25.3B), India ($16B), Vietnam ($10.5B), Netherlands ($7.05B), and Macau ($6.26B), and imports mostly from China ($282B), South Korea ($44.5B), Chinese Taipei ($42B), Singapore ($41.5B), and United States ($33.6B).

Product Trade

#permalink to section

Product Exports

#permalink to section
Depth
Value

Top Export (2018): Gold, $12.1B

Top Destination (2018): China, $25.3B

In 2018 Hong Kong exported a total of $127B, making it the number 34 exporter in the world. During the last five reported years the exports of Hong Kong have changed by -$40.4B from $167B in 2013 to $127B in 2018.

The most recent exports are led by Gold ($12.1B), Broadcasting Equipment ($10.4B), Integrated Circuits ($6.98B), Diamonds ($6.83B), and Telephones ($5.71B). The most common destination for the exports of Hong Kong are China ($25.3B), India ($16B), Vietnam ($10.5B), Netherlands ($7.05B), and Macau ($6.26B).

Explore Visualizations

Product Imports

#permalink to section
Depth
Value

Top Import (2018): Integrated Circuits, $156B

Top Origin (2018): China, $282B

In 2018 Hong Kong imported $634B, making it the number 7 trade destination in the world. During the last five reported years the imports of Hong Kong changed by -$54.6M from $634B in 2013 to $634B in 2018.

The most recent imports of Hong Kong are led by Integrated Circuits ($156B), Broadcasting Equipment ($48.6B), Office Machine Parts ($35.7B), Gold ($26.1B), and Telephones ($21.5B). The most common import partners for Hong Kong are China ($282B), South Korea ($44.5B), Chinese Taipei ($42B), Singapore ($41.5B), and United States ($33.6B).

Explore Visualizations

Monthly Trade

#permalink to section

Market Growth

#permalink to section
Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Service Trade

#permalink to section

Service Trade

#permalink to section

Hong Kong Exports Services (2018): $94.3B

Hong Kong Imports Services (2018): $52.3B

In 2018, Hong Kong exported $94.3B worth of services. The top services exported by Hong Kong in 2018 were Travel ($36.8B), Transportation ($32.7B), Financial services ($23.3B), and Insurance services ($1.49B).

The top services imported by Hong Kong in 2018 were Travel ($26.4B), Transportation ($18.3B), Financial services ($5.98B), and Insurance services ($1.5B).

Forecasts

#permalink to section

Trade Forecasts

#permalink to section

This section shows forecasts for total product exports and imports for Hong Kong. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

Explore Forecasts

Economic Complexity

#permalink to section

Economic Complexity Ranking

#permalink to section
Scale
Compare with

During the last 20 years Hong Kong's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨54th to the 32nd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

Most Specialized Products by RCA Index

#permalink to section

Hong Kong has a high level of specialization in Synthetic Reconstructed Jewellery Stones (34.5), Pearls (32.5), Labels (28.7), Buttons (24), and Precious Stones (23). Specialization is measured using RCA, an index that takes the ratio between Hong Kong observed and expected exports in each product.

Most Complex Products by PCI

#permalink to section

The highest complexity exports of Hong Kong according to the product complexity index (PCI) are Metal pickling preps, solder, brazing flux, weld cores (1.73), Measuring or checking instruments nes (1.65), Instruments to check or measure electricity, radiation (1.6), Phosphoric esters, their salts and derivatives (1.54), and Cast and rolled glass, sheets and profiles (1.54). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Hong Kong according to the relatedness index, are Vacuum Flask (0.35), Rubber Thread (0.32), LCDs (0.31), Glass with Edge Workings (0.31), and Rubber (0.29). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Hong Kong is not specialized in.

Product Space

#permalink to section

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

#permalink to section
Depth
Filter

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Related Profiles

Created, Designed, and Developed by:
  • Datawheel
With the support of:
  • ConnectAmericas
  • INTAL

Have questions, comments, or concerns?

Send us an e-mail: [email protected]