HONG KONG - AUSTRALIA TRADE RELATIONS
AUSTRALIA AND HONG KONG ARE IMPORTANT TRADING PARTNERS
- In 2019, Australia was Hong Kong's 20th largest trading partner. Hong Kong was Australia's 15th largest trading partner in 2019.
- Total merchandise trade between Hong Kong and Australia amounted to HK$50,189 million in 2019, decreased by 7.4% from 2018. The average annual growth rate from 2015 to 2019 was -0.6%.
- In 2019, Hong Kong's domestic export of goods to Australia amounted to HK$760 million. Major domestic exports to Australia included tobacco and tobacco manufacturers; miscellaneous edible products and preparations; and non-ferrous metals.
- Hong Kong's re-export of goods to Australia totalled HK$31,668 million. Major re-exports were telecommunications and sound recording and reproducing apparatus and equipment; office machines and automatic data processing machines; and articles of apparel and clothing accessories.
- In 2019, Hong Kong imported HK$17,761 million worth of goods from Australia. Major imports included vegetables and fruit; telecommunications and sound recording and reproducing apparatus and equipment; and meat and meat preparations.
- Hong Kong and Australia signed a Free Trade Agreement (FTA) and an Investment Agreement in March 2019. The Agreements are comprehensive in scope and the commitments therein are of high quality, encompassing trade in goods, trade in services, investment, government procurement, intellectual property, competition, dispute settlement mechanism and other related areas. The two Agreements entered into force on 17 January 2020. Please click here for more information.
HONG KONG IS AN IMPORTANT ENTREPOT FOR MAINLAND-AUSTRALIA TRADE
- Hong Kong is an important entrepôt for merchandise trade between Australia and the Mainland of China. Re-export trade between the two economies through Hong Kong amounted to HK$35,845 million in 2019.
HONG KONG IS AN IMPORTANT MARKET FOR AUSTRALIAN INTERESTS
- Hong Kong is a separate customs territory recognised by the World Trade Organization as a member.
- Hong Kong welcomes overseas investment and offers an environment in which there is a free flow of capital and return on investment without exchange controls.
- In a survey covering 9 040 companies in Hong Kong with parent companies located outside Hong Kong, as at June 2019, there were 35 regional headquarters, 54 regional offices and 96 local offices in Hong Kong with parent companies located in Australia.
- Australia was the sixteenth largest source of external investment in Hong Kong at end-2018. Australia's inward direct investment in Hong Kong amounted to HK$39 billion, accounting for 0.3% of the total.
|Summary of Hong Kong's Trade with Australia (in HK$ million)|
|2018||% Change 2018/2017||2019||% Change 2019/2018|
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.
Trade and Industry Department
The Government of the Hong Kong
Special Administrative Region
Telephone : (852) 2398 5594
Website : www.tid.gov.hk