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Trade and Industry Department The Government of the Hong Kong Special Administrative Region
Brand Hong Kong - Asia world city

HONG KONG - EUROPEAN UNION TRADE RELATIONS

HONG KONG AND THE EUROPEAN UNION* ARE IMPORTANT TRADING PARTNERS

  • In 2020, bilateral merchandise trade between Hong Kong and the European Union (EU) amounted to €54 billion (HK$476 billion), dropped by 12.0% over 2019.
  • Germany, Netherlands and France were Hong Kong's top three merchandise trading partners among all the EU Member States in 2020. They represented 23%, 17% 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 4.6% (€22 billion or HK$196 billion) of Hong Kong's total merchandise imports in 2020. Major goods imported from the EU to Hong Kong in 2020 were travel goods and handbags, pearls and precious stones as well as semi-conductors, electronic valves & tubes.
  • Hong Kong-origin goods exported to the EU accounted for 2.6% (€0.1 billion or HK$1 billion) of Hong Kong's total domestic exports in 2020. Hong Kong's major domestic exports to the EU in 2020 included jewellery, edible products and preparations as well as semi-conductors, electronic valves & tubes.

HONG KONG IS AN IMPORTANT ENTREPÔT FOR SINO-EU TRADE

  • Hong Kong is an important entrepôt for merchandise trade between the EU and Mainland China. In 2020, around 8% (€27 billion or HK$239 billion) of Mainland China's exports to the EU, and around 4% (€10 billion or HK$90 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 Organisation 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 1 June 2021, there were 334 regional headquarters, 540 regional offices and 740 local offices in Hong Kong with parent companies located in the EU.
  • As at end-2019, the position of inward direct investment from the EU amounted to €21 billion (HK$187 billion) at market price. The EU was an important source of inward direct investment in both the manufacturing sector and the accommodation and food services sector.
  • Hong Kong is one of the world's major financial centres. As at end-2020, 21 out of the 161 licensed banks, one out of the 17 restricted licence banks and five out of 43 local representative offices in Hong Kong were owned by EU interests.
  • As at 30 September 2021, of the 165 insurance companies authorised in Hong Kong, 16 are EU companies. EU companies also participate actively in securities and futures trading, investment advice and fund management in Hong Kong.
  • Hong Kong has signed Investment Promotion and Protection Agreements (IPPA) with the following EU Member States: Austria, the Belgo-Luxembourg Economic Union, Denmark, Finland, France, Germany, Italy, the Netherlands, and Sweden. Please click here for more information.
Value in HK$ billion (€ billion)
  Summary of Hong Kong's Trade with the EU
2019 % Change 2019/2018 2020 % Change 2020/2019
Domestic Exports 1.4
(0.2)
+23.6 1.2
(0.1)
-8.0
Re-exports 304.8
(34.8)
-7.6 279.0
(31.5)
-8.5
Total Exports 306.2
(34.9)
-7.5 280.2
(31.6)
-8.5
Imports 235.2
(26.8)
-5.2 196.0
(22.1)
-16.7
Total Trade 541.4
(61.7)
-6.5 476.2
(53.7)
-12.0

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

November 2021

Notes :

  1. Exchange rate in 2019 : €1 = HK$8.77; Exchange rate in 2020 : €1 = HK$8.86
  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 of 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. The United Kingdom withdrew from the EU with effect from 31 January 2020.

TABLE

HONG KONG'S MERCHANDISE TRADE WITH THE EU AND INDIVIDUAL MEMBER STATES IN 2020
  Value of
Total Trade

(in million €)
Value of
Imports

(in million €)
Value of Domestic Exports
(in million €)
Value of
Re-exports

(in million €)
World 925,200 481,913 5,355 437,932
The EU 53,743
(5.8%)
22,117
(4.6%)
140
(2.6%)
31,486
(7.2%)
Ranking Member States  
1 Germany 12,256
(22.80%)
5,566
(25.16%)
22
(15.56%)
6,669
(21.18%)
2 Netherlands 9,079
(16.89%)
1,783
(8.06%)
28
(19.84%)
7,268
(23.08%)
3 France 8,538
(15.89%)
5,005
(22.63%)
41
(29.53%)
3,492
(11.09%)
4 Italy 6,488
(12.07%)
3,915
(17.70%)
20
(14.17%)
2,553
(8.11%)
5 Belgium 3,684
(6.85%)
2,055
(9.29%)
4.1
(2.95%)
1,624
(5.16%)
6 Spain 2,389
(4.45%)
645
(2.92%)
5.1
(3.64%)
1,739
(5.52%)
7 Poland 1,849
(3.44%)
245
(1.11%)
1.3
(0.95%)
1,602
(5.09%)
8 The Czech Republic 1,729
(3.22%)
273
(1.24%)
0.5
(0.37%)
1,455
(4.62%)
9 Hungary 1,597
(2.97%)
277
(1.25%)
1.7
(1.18%)
1,318
(4.19%)
10 Austria 1,022
(1.90%)
233
(1.05%)
5.9
(4.19%)
783
(2.49%)
11 Ireland 967
(1.80%)
715
(3.23%)
1.0
(0.69%)
251
(0.80%)
12 Sweden 774
(1.44%)
220
(1.00%)
1.7
(1.24%)
552
(1.75%)
13 Denmark 557
(1.04%)
243
(1.10%)
2.7
(1.90%)
312
(0.99%)
14 Romania 414
(0.77%)
35
(0.16%)
1.9
(1.34%)
377
(1.20%)
15 Portugal 375
(0.70%)
94
(0.43%)
1.0
(0.72%)
279
(0.89%)
16 Luxembourg 301
(0.56%)
195
(0.88%)
0.1
(0.08%)
106
(0.34%)
17 Finland 262
(0.49%)
88
(0.40%)
0.3
(0.18%)
174
(0.55%)
18 Lithuania 243
(0.45%)
33
(0.15%)
0.7
(0.49%)
208
(0.66%)
19 Malta 212
(0.40%)
202
(0.91%)
0.003
(0.002%)
11
(0.03%)
20 Slovenia 198
(0.37%)
121
(0.55%)
0.8
(0.60%)
76
(0.24%)
21 Greece 176
(0.33%)
34
(0.15%)
0.2
(0.12%)
142
(0.45%)
22 Slovakia 175
(0.33%)
25
(0.12%)
0.02
(0.01%)
149
(0.47%)
23 Bulgaria 154
(0.29%)
53
(0.24%)
0.05
(0.04%)
101
(0.32%)
24 Latvia 96
(0.18%)
16
(0.07%)
0.1
(0.07%)
80
(0.25%)
25 Croatia 94
(0.18%)
12
(0.05%)
0
(0%)
82
(0.26%)
26 Estonia 82
(0.15%)
14
(0.06%)
0.1
(0.11%)
68
(0.22%)
27 Cyprus 33
(0.06%)
18
(0.08%)
0.05
(0.04%)
15
(0.05%)

Notes :

  1. Figures in brackets represent the percentage share among all trading partners of Hong Kong.
  2. The ranking is based on total trade value.
  3. Due to rounding, the figures may not add up to the total.