Hong Kong - EU Trade Relations

Hong Kong and the EU* are Important Trading Partners

  • In 2023, bilateral merchandise trade between Hong Kong and the European Union (EU) amounted to €60.3 billion (HK$510 billion), dropped by 2.6% over 2022.
  • Germany, Netherlands and France were Hong Kong's top three merchandise trading partners among all the EU Member States in 2023. They represented 22%, 19% and 16% of Hong Kong's total merchandise trade with the EU respectively. Details on Hong Kong's merchandise trade with the EU are in the Table.
  • Goods imported from the EU accounted for 5.1% (€27.9 billion or HK$237 billion) of Hong Kong's total merchandise imports in 2023. Major goods imported from the EU to Hong Kong in 2023 were travel goods and handbags, semi-conductors, electronic valves and tubes as well as pearls and precious stones.
  • Hong Kong-origin goods exported to the EU accounted for 3.0% (€0.2 billion or HK$2 billion) of Hong Kong's total domestic exports in 2023. Hong Kong's major domestic exports to the EU in 2023 included jewellery, silver and platinum as well as precious metal ores and concentrates.

Hong Kong is an Important Entrepot for Sino-EU Trade

  • Hong Kong is an important entrepot for merchandise trade between the EU and Mainland China. In 2023, around 5% (€25.2 billion or HK$214 billion) of Mainland China's exports to the EU, and around 4% (€9.8 billion or HK$83 billion) of Mainland China's imports from the EU, were routed through Hong Kong.

Hong Kong is an Important Location for EU Interests

  • Hong Kong is a separate customs territory, and participates in the World Trade Organization as a full and separate member, using the name "Hong Kong, China".
  • Hong Kong welcomes overseas investments and offers an environment in which there is free flow of capital and return on investment without exchange controls.
  • As at 3 June 2024, there were 330 regional headquarters, 470 regional offices and 840 local offices in Hong Kong with parent companies located in the EU. **
  • As at end-2022, the position of inward direct investment from the EU amounted to €32 billion (HK$266 billion) at market price. The EU was an important source of inward direct investment in both the accommodation and food services sector and the manufacturing sector.
  • Hong Kong is one of the world's major financial centres. As at end-2023, 17 out of the 151 licensed banks, one out of the 16 restricted licence banks and four out of 31 local representative offices in Hong Kong were owned by EU interests.
  • As at 30 June 2024, of the 157 insurance companies authorised in Hong Kong, 15 are EU companies. EU companies also participate actively in securities and futures trading, investment advice and fund management in Hong Kong.
  • Hong Kong has signed Investment Promotion and Protection Agreements (IPPA) with the following EU Member States: Austria, the Belgo-Luxembourg Economic Union, Denmark, Finland, France, Germany, Italy, the Netherlands, and Sweden. Please click here for more information.
Value in HK$ billion (€ billion)
  Summary of Hong Kong's Trade with the EU
  2022 % Change
2022/2021		 2023 % Change
2023/2022
Domestic Exports 1.5
(0.2)		 +7.9 2.0
(0.2)		 +32.0
Re-exports 311.1
(37.8)		 -8.0 271.8
(32.1)		 -12.7
Total Exports 312.6
(37.9)		 -7.9 273.7
(32.3)		 -12.4
Imports 211.2
(25.6)		 -1.1 236.7
(27.9)		 +12.0
Total Trade 523.8
(63.6)		 -5.3 510.4
(60.3)		 -2.6

Trade and Industry Department
The Government of the Hong Kong Special Administrative Region

December 2024

Notes:

1
Exchange rate in 2022: €1 = HK$8.24; Exchange rate in 2023: €1 = HK$8.47
2
Statistics in this fact sheet are sourced from the Government of the Hong Kong Special Administrative Region, Eurostat, and the WTO.
3
While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same.
*
The EU comprises 27 Member States, namely, Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
**
Figures are rounded to the nearest ten.

TABLE

HONG KONG'S MERCHANDISE Trade WITH THE EU AND INDIVIDUAL MEMBER STATES IN 2023
  Value of
Total Trade
(in million €)		 Value of
Imports
(in million €)		 Value of Domestic Exports
(in million €)		 Value of
Re-exports
(in million €)
World 1,041,605 548,405 7,750 485,450
The EU 60,258
(5.8%)		 27,940
(5.1%)		 232
(3.0%)		 32,086
(6.6%)
Ranking Member States  
1 Germany 13,366
(22.18%)		 7,375
(26.40%)		 23
(9.93%)		 5,968
(18.60%)
2 Netherlands 11,264
(18.69%)		 2,117
(7.58%)		 34
(14.56%)		 9,113
(28.40%)
3 France 9,595
(15.92%)		 6,156
(22.03%)		 29
(12.45%)		 3,410
(10.63%)
4 Italy 7,768
(12.89%)		 5,028
(18.00%)		 107
(46.10%)		 2,633
(8.21%)
5 Belgium 4,207
(6.98%)		 2,324
(8.32%)		 12
(5.37%)		 1,871
(5.83%)
6 Spain 2,212
(3.67%)		 785
(2.81%)		 7.2
(3.10%)		 1,420
(4.43%)
7 Poland 1,706
(2.83%)		 263
(0.94%)		 0.9
(0.38%)		 1,442
(4.50%)
8 Hungary 1,557
(2.58%)		 392
(1.40%)		 0.7
(0.31%)		 1,164
(3.63%)
9 The Czech Republic 1,258
(2.09%)		 194
(0.69%)		 0.2
(0.08%)		 1,064
(3.32%)
10 Austria 1,249
(2.07%)		 438
(1.57%)		 2.2
(0.95%)		 809
(2.52%)
11 Luxembourg 1,150
(1.91%)		 889
(3.18%)		 0.4
(0.16%)		 261
(0.81%)
12 Sweden 801
(1.33%)		 259
(0.93%)		 1.6
(0.70%)		 541
(1.69%)
13 Ireland 796
(1.32%)		 534
(1.91%)		 1.8
(0.77%)		 260
(0.81%)
14 Denmark 513
(0.85%)		 190
(0.68%)		 1.7
(0.74%)		 321
(1.00%)
15 Romania 438
(0.73%)		 38
(0.14%)		 0.7
(0.30%)		 400
(1.25%)
16 Portugal 348
(0.58%)		 95
(0.34%)		 6.7
(2.88%)		 247
(0.77%)
17 Malta 318
(0.53%)		 298
(1.07%)		 1.0
(0.45%)		 19
(0.06%)
18 Slovenia 314
(0.52%)		 220
(0.79%)		 0.4
(0.17%)		 93
(0.29%)
19 Greece 235
(0.39%)		 70
(0.25%)		 0.8
(0.37%)		 163
(0.51%)
20 Bulgaria 223
(0.37%)		 77
(0.28%)		 0.1
(0.05%)		 145
(0.45%)
21 Finland 204
(0.34%)		 54
(0.19%)		 0.07
(0.03%)		 149
(0.47%)
22 Lithuania 189
(0.31%)		 26
(0.09%)		 0.05
(0.02%)		 163
(0.51%)
23 Slovakia 168
(0.28%)		 42
(0.15%)		 0.004
(0.002%)		 126
(0.39%)
24 Estonia 124
(0.21%)		 19
(0.07%)		 0.08
(0.03%)		 105
(0.33%)
25 Latvia 112
(0.19%)		 30
(0.11%)		 0.07
(0.03%)		 82
(0.25%)
26 Croatia 98
(0.16%)		 16
(0.06%)		 0.0005
(0.0002%)		 82
(0.26%)
27 Cyprus 43
(0.07%)		 12
(0.04%)		 0.1
(0.05%)		 31
(0.10%)

Note:

1
Figures in brackets for the EU represent the percentage share among all trading partners of Hong Kong and that for individual Member States represent the percentage share among all EU Member States.
2
The ranking is based on total trade value.
3
Due to rounding, the figures may not add up to the total.
2025-03-21
39089
sitemap