HONG KONG - UNITED STATES TRADE RELATIONS
THE UNITED STATES AND HONG KONG ARE IMPORTANT TRADING PARTNERS
- In 2019, bilateral merchandise trade between the United States (US) and Hong Kong dropped by 12.1% over 2018, amounted to US$66.0 billion (HK$516.9 billion).
- Goods imported from the US registered an average annual change of 0.2% in value in the past four years since 2015 (in terms of HK Dollar). They accounted for about 5% (US$27 billion or HK$213 billion) of Hong Kong's total imports in 2019.
- Hong Kong was the US' 3rd largest market for wine exports, 4th largest market for beef and beef products and 9th largest market for agricultural and related products in 2019. Other major exports from the US to Hong Kong in 2019 were electrical machinery, apparatus and appliances, and electrical parts thereof; telecommunications equipment; and non-metallic mineral manufactures.
- Goods exported to the US registered an average annual change of -2.9% in value in the past four years since 2015 (in terms of HK Dollar). They accounted for about 8% (US$39 billion or HK$304 billion) of Hong Kong's total exports in 2019.
- Hong Kong's major export to the US in 2019 included telecommunications and sound recording and reproducing apparatus and equipment; electrical machinery; jewellery; and office machines and automatic data processing machines.
HONG KONG IS AN IMPORTANT ENTREPÔT FOR SINO-US TRADE
- Hong Kong is an important entrepôt for merchandise trade between the US and Mainland China. In 2019, around 7% (US$30 billion) of Mainland China's exports to the US, and around 9% (US$11 billion) of Mainland China's imports from the US, were routed through Hong Kong.
HONG KONG IS AN IMPORTANT LOCATION FOR US 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.
- As at 3 June 2019, there were 278 regional headquarters, 457 regional offices and 609 local offices in Hong Kong with parent companies located in the US.
- As at end-2018, the position of inward direct investment from the US amounted to US$37.2 billion at market price. The US was an important source of inward direct investment in both the financing (except banking, investment and holding companies) sector and the transportation, storage, postal and courier services sector.
- Hong Kong is one of the world's major financial centres. As at end-2019, ten out of the 164 licensed banks, and four out of the 17 restricted licence banks and one out of 43 local representative offices in Hong Kong were owned by US interests.
- Of the 163 insurance companies authorised in Hong Kong, nine are US companies. Another 12 are known to be controlled by US interests. US companies also participate actively in securities and futures trading, investment advice, fund management and credit rating in Hong Kong.
Note: Exchange rate in 2018: US$1 = HK$7.839; Exchange rate in 2019: US$1 = HK$7.836
|Value in HK$ billion (US$ billion)|
|Summary of Hong Kong's Trade with the US|
|2018||% Change 2018/2017||2019||% Change 2019/2018|
Trade and Industry Department
The Government of the Hong Kong
Special Administrative Region
Trade and Industry Tower,
3 Concorde Road, Kowloon City,
Telephone : (852) 2398 5405
Website : www.tid.gov.hk