About

Overview In 2023, Hong Kong was the number 39 economy in the world in terms of GDP (current US$), the number 38 in total exports, the number 9 in total imports, the number 25 economy in terms of GDP per capita (current US$) and the number 23 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Hong Kong are Gold ($19.1B), Integrated Circuits ($12.6B), Gas Turbines ($8.74B), Broadcasting Equipment ($6.48B), and Jewellery ($5.41B), exporting mostly to China ($25.3B), Vietnam ($14.4B), South Korea ($9.5B), Netherlands ($5.56B), and Switzerland ($4.86B).

Imports The top imports of Hong Kong are Integrated Circuits ($200B), Broadcasting Equipment ($60.8B), Gold ($58.7B), Office Machine Parts ($23B), and Jewellery ($21.3B), importing mostly from China ($259B), Chinese Taipei ($66.1B), Singapore ($44.5B), Japan ($30.8B), and South Korea ($28.8B).

In 2023, Hong Kong was the world's biggest importer of Integrated Circuits ($200B), Jewellery ($21.3B), Printed Circuit Boards ($7.36B), Precious Stones ($3.03B), and Precious Metal Watches ($2.61B)

Latest Trends

Latest Trade

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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Gold$19.1B
Top Destination (2023)China$25.3B

In 2023, Hong Kong exported a total of $117B, making it the number 38 exporter in the world. During the last five reported years the exports of Hong Kong have changed by $8.75B from $109B in 2018 to $117B in 2023.

The most recent exports are led by Gold ($19.1B), Integrated Circuits ($12.6B), Gas Turbines ($8.74B), Broadcasting Equipment ($6.48B), and Jewellery ($5.41B). The most common destination for the exports of Hong Kong are China ($25.3B), Vietnam ($14.4B), South Korea ($9.5B), Netherlands ($5.56B), and Switzerland ($4.86B).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Vietnam$11.4B (+ 385%)
South Korea$7.23B (+ 319%)
China$5.62B (+ 28.5%)
Fastest Growing Import Markets (2022 - 2023)
Switzerland$8.4B (+ 96.1%)
Russia$6.29B (+ 319%)
United Arab Emirates$4.77B (+ 47.1%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)1.12Rank 23 of 132
Economic Complexity (Technology)0.66Rank 34 of 96
Economic Complexity (Research)0.84Rank 28 of 140

Most Specialized Products by RCA Index

Hong Kong has a high level of specialization in Cast or Rolled Glass (55.7), Labels (26.9), Live Fish (26), Buttons (24.8), and Cameras (23.2). 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

Export Opportunities by Relatedness

The top export opportunities for Hong Kong according to the relatedness index, were Vacuum Flask (0.3), Glass with Edge Workings (0.28), Artificial Vegetation (0.27), Inorganic Compounds (0.26), and Rare-Earth Metal Compounds (0.26). 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

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.

Relatedness Space

This network shows the products most related to the production structure of Hong Kong. These are products that tend to be co-exported with the products that Hong Kong exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Hong Kong's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨48th 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.

Explore Rankings

ECI (Trade) Ranking by Country

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