Hong Kong2020 Economic Complexity : 1.11, Rank 23 of 127
2020 Product Exports | Imports: $126B | $571B, 33 of 226 | 6 of 226
2020 Per Capita Product Exports | Imports: $16.9k | $76.3k, 50 of 219 | 3 of 219
2018 Service Exports | Imports : $94.3B | $52.3B, 24 of 138 | 28 of 138
Overview In 2020, Hong Kong was the number 37 economy in the world in terms of GDP (current US$), the number 33 in total exports, the number 6 in total imports, the number 21 economy in terms of GDP per capita (current US$) and the number 23 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Hong Kong are Gold ($33B), Broadcasting Equipment ($7.28B), Gas Turbines ($6.57B), Integrated Circuits ($5.94B), and Telephones ($4.58B), exporting mostly to China ($25.9B), United Kingdom ($14.8B), India ($14.2B), Switzerland ($12.1B), and Netherlands ($5.72B).
In 2020, Hong Kong was the world's biggest exporter of Cast or Rolled Glass ($2.31B), Scrap Waste ($156M), and Human Hair ($59.3M)
Imports The top imports of Hong Kong are Integrated Circuits ($162B), Broadcasting Equipment ($43.1B), Office Machine Parts ($30.7B), Gold ($20.1B), and Telephones ($18.2B), importing mostly from China ($262B), Chinese Taipei ($50B), Singapore ($41.7B), South Korea ($30.9B), and Japan ($27.2B).
In 2020, Hong Kong was the world's biggest importer of Integrated Circuits ($162B), Semiconductor Devices ($16.5B), Jewellery ($13.1B), Printed Circuit Boards ($9.8B), and Electrical Capacitors ($5.97B)
The following section uses the most recent trade data from partners of Hong Kong.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
In 2020, Hong Kong exported a total of $126B, making it the number 33 exporter in the world. During the last five reported years the exports of Hong Kong have changed by $19B from $107B in 2015 to $126B in 2020.
The most recent exports are led by Gold ($33B), Broadcasting Equipment ($7.28B), Gas Turbines ($6.57B), Integrated Circuits ($5.94B), and Telephones ($4.58B). The most common destination for the exports of Hong Kong are China ($25.9B), United Kingdom ($14.8B), India ($14.2B), Switzerland ($12.1B), and Netherlands ($5.72B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
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).
Hong Kong has a high level of specialization in Cast or Rolled Glass (67.4), Scrap Waste (29.8), Synthetic Reconstructed Jewellery Stones (24.7), Horses (20.2), and Labels (19.4). Specialization is measured using RCA, an index that takes the ratio between Hong Kong observed and expected exports in each product.
The highest complexity exports of Hong Kong according to the product complexity index (PCI) are Metalworking Transfer Machines (2.55), Cermets (2.08), Blank Audio Media (1.85), Oscilloscopes (1.83), and Watch Movements (1.76). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Hong Kong according to the relatedness index, are Vacuum Flask (0.3), Metal-Clad Products (0.27), Combs (0.27), Rubber Apparel (0.26), and Mirrors and Lenses (0.25). 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.
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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Hong Kong's economy has become relatively more complex, moving from the 58th to the 23rd 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.
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