Hong Kong2019 Economic Complexity : 1.02, Rank 28 of 146
2019 Product Exports | Imports: $118B | $577B, 34 of 225 | 8 of 225
2019 Per Capita Product Exports | Imports: $15.8k | $76.9k, 21 of 219 | 3 of 219
2018 Service Exports | Imports : $94.3B | $52.3B, 9 of 88 | 14 of 88
Overview: In 2019 Hong Kong was the number 34 economy in the world in terms of GDP (current US$), the number 34 in total exports, the number 8 in total imports, the number 17 economy in terms of GDP per capita (current US$) and the number 28 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Hong Kong are Gold ($14.5B), Broadcasting Equipment ($7.99B), Integrated Circuits ($6.98B), Diamonds ($6.52B), and Telephones ($5.77B), exporting mostly to China ($26.8B), India ($17B), Netherlands ($6.93B), United Kingdom ($6.21B), and Philippines ($3.9B).
In 2019, Hong Kong was the world's biggest exporter of Synthetic Reconstructed Jewellery Stones ($596M) and Human Hair ($43.5M)
Imports: The top imports of Hong Kong are Integrated Circuits ($146B), Broadcasting Equipment ($44.8B), Office Machine Parts ($29.7B), Telephones ($20.7B), and Diamonds ($18.6B), importing mostly from China ($268B), Chinese Taipei ($41B), Singapore ($39.1B), South Korea ($31.6B), and United States ($28.6B).
In 2019, Hong Kong was the world's biggest importer of Integrated Circuits ($146B), Telephones ($20.7B), Semiconductor Devices ($15.9B), Printed Circuit Boards ($9.7B), and Electrical Capacitors ($4.6B)
In 2019, Hong Kong exported a total of $118B, making it the number 34 exporter in the world. During the last five reported years the exports of Hong Kong have changed by -$22.5B from $141B in 2014 to $118B in 2019.
The most recent exports are led by Gold ($14.5B), Broadcasting Equipment ($7.99B), Integrated Circuits ($6.98B), Diamonds ($6.52B), and Telephones ($5.77B). The most common destination for the exports of Hong Kong are China ($26.8B), India ($17B), Netherlands ($6.93B), United Kingdom ($6.21B), and Philippines ($3.9B).
Top Import (2019): Integrated Circuits, $146B
Top Origin (2019): China, $268B
In 2019 Hong Kong imported $577B, making it the number 8 trade destination in the world. During the last five reported years the imports of Hong Kong changed by -$59.6B from $637B in 2014 to $577B in 2019.
The most recent imports of Hong Kong are led by Integrated Circuits ($146B), Broadcasting Equipment ($44.8B), Office Machine Parts ($29.7B), Telephones ($20.7B), and Diamonds ($18.6B). The most common import partners for Hong Kong are China ($268B), Chinese Taipei ($41B), Singapore ($39.1B), South Korea ($31.6B), and United States ($28.6B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
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 Synthetic Reconstructed Jewellery Stones (43.8), Labels (25.3), Pitted Fruits (19.5), Precious Stones (19.5), and Buttons (19.1). 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 Photograph film, rolls, unexposed, not paper (1.96), Cermets and articles thereof, waste or scrap (1.93), Measuring or checking instruments nes (1.93), Machine-tools for non-mechanical removal of material (1.81), and Cast, drawn or float glass sheet, edge worked or bent (1.78). 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 (0.37), Rubber Thread (0.32), LCDs (0.31), Silk Waste (0.31), and Inorganic Compounds (0.3). 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.
During the last 20 years Hong Kong's economy has become relatively más complex, moving from the 55th to the 28th 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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