Imports/Exports in Hong Kong SAR
Hong Kong's economy is considered a model of capitalism because of its dedication to free trade.Trade represents more than 400% of the GDP. Hong Kong belonge among the fifteen top exporters of trade services and the first fifteen trade-based economies in the world.
Foreign trade was pursued intensively during these past years. Structurally in a deficit, the trade balance of Hong Kong has worsened due to the quicker rise in imports.
The island's main trade partners are China, Southeast Asia and Japan.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||335,754||370,132||392,962||352,241||442,035|
|Exports of Goods (million USD)||322,669||349,386||370,242||329,422||401,022|
|Imports of Services (million USD)||36,905||42,450||46,918||44,379||51,225|
|Exports of Services (million USD)||72,674||84,643||92,048||86,306||108,000|
|Imports of Goods and Services (Annual % Change)||9.1||9.2||2.0||-||-|
|Exports of Goods and Services (Annual % Change)||9.4||8.3||2.7||-||-|
|Imports of Goods and Services (in % of GDP)||194.1||197.1||201.6||-||-|
|Exports of Goods and Services (in % of GDP)||205.5||208.0||212.5||-||-|
|Trade Balance (million USD)||-14,033||-19,701||-23,117||-26,862||-|
|Trade Balance (Including Service) (million USD)||21,642||22,415||23,352||-||-|
|Foreign Trade (in % of GDP)||399.7||405.1||414.1||-||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|United Arab Emirates||0.8%|
|Other partnersClose extended list||27.7%|
(% of Imports)
|Other partnersClose extended list||31.8%|
Exchange Rate System
- Exchange Rate Regime
- Exchange control is quite flexible in Hong-Kong. The Hong-Kong dollar is freely convertible. Its exchange rate vis-s-vis the USD is fixed in a band between 7.75 and 7.85 Hong Kong dollars for 1 US dollar. Ths rate is ensured by a "currency board" system which establishes an automatic link between the exchange reserves and the monetary base.
- Level of Currency Instability
- Low exchange risk.
|Hong Kong Dollar (HKD) - Average Annual Exchange Rate For 1 USD||7.78||7.77||7.80||7.79||7.75|
Source: World Bank
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