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Hong Kong – Trade Statistics

  • As one of the world’s leading international financial centres, Hong Kong’s service-oriented economy is characterized by its low taxation, almost free port trade and well established international financial market. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and pegged to the US Dollar. Interest rates are determined by the individual banks in Hong Kong to ensure it is fully market-driven. There is no officially recognised central banking system, although Hong Kong Monetary Authority functions as a financial regulatory authority. When destabilising factors are hitting the financial market of Hong Kong, they will be monitored and inspected by the Hong Kong Monetary Authority, the financial regulatory agency in Hong Kong. Electronic finance trading is evolutionarily impacting the financial market of Hong Kong.
  • Hong Kong is the 34th largest export economy in the world and the 40th most complex economy according to the Economic Complexity Index (ECI). In 2014, Hong Kong exported $139B and imported $543B, resulting in a negative trade balance of $403B. In 2014 the GDP of Hong Kong was $290B and its GDP per capita was $55.1k.
  • The top exports of Hong Kong are Gold ($47.2B), Telephones ($5.73B), Jewellery ($5.26B), Integrated Circuits ($5.22B) and Broadcasting Equipment ($4.79B), using the 1992 revision of the HS (Harmonized System) classification.
  • Its top imports are Integrated Circuits ($71.7B), Gold ($53.5B), Telephones ($36.9B), Broadcasting Equipment ($32.4B) and Computers ($26.7B).
  • The top export destinations of Hong Kong are China ($63.1B), Other Asia ($10.5B), the United Arab Emirates ($4.93B), Vietnam ($4.66B) and the United States ($4.47B).
  • The top import origins are China ($258B), Japan ($36B), Singapore ($34.1B), the United States ($31.7B) and South Korea ($24.5B).
  • Singapore holds a place of 1st out of 189 popular countries(economically) in case of doing a business in country.’Getting Credit’ is one of the topics in which Singapore has decreased it’s ranking from 17 to 19 and country has also decreased it’s ranking from 6 to 10 in case of ‘Starting a Business’.