Overview: In 2018 Hong Kong was the number 34 economy in the world in terms of GDP (current US$), the number 34 in total exports, the number 7 in total imports,
the number 17 economy in terms of GDP per capita (current US$) and the number 32 most complex economy according to the Economic Complexity Index (ECI)
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.
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.
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).
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.
During the last 20 years Hong Kong's economy has become relatively más 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.
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.
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.
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.
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.
Hong Kong
