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Hong Kong

Hong Kong FlagU.S.-Hong Kong Trade Facts

U.S. goods and private services trade with Hong Kong totaled an estimated $57 billion in 2012 (latest data available). Exports totaled $44 billion; Imports totaled $13 billion. The U.S. goods and services trade surplus with Hong Kong was $31 billion in 2012.

Hong Kong is currently our 18th largest goods trading partner with $48.1 billion in total (two ways) goods trade during 2013. Goods exports totaled $42.5 billion; Goods imports totaled $5.6 billion. The U.S. goods trade surplus with Hong Kong was $36.8 billion in 2013.

Trade in private services with Hong Kong (exports and imports) totaled an estimated $13 billion in 2012 (latest data available). Services exports were $6.4 billion; Services imports were $7.0 billion. The U.S. services trade deficit with Hong Kong was $691 million in 2012.

Exports

Hong Kong was the United States' 9th largest goods export market in 2013.

U.S. goods exports to Hong Kong in 2013 were $42.5 billion, up 13.3% ($5.0 billion) from 2012, and up 214% from 2003. U.S. exports to Hong Kong account for 2.7% of overall U.S. exports in 2013.

The top export categories (2-digit HS) in 2013 were: Precious Stones and Metals (gold and diamonds) ($16.2 billion), Electrical Machinery ($8.2 billion), Aircraft ($3.4 billion), Machinery ($2.4 billion), and Edible Fruit and Nuts (pistachios, almonds) ($1.5 billion).

U.S. exports of agricultural products to Hong Kong totaled $3.9 billion in 2013, the 6th largest U.S. Ag export market. Leading categories include: tree nuts ($1.2 billion), beef and beef products ($823 million), fresh fruit ($357 million), and pork and pork products ($200 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to Hong Kong were $6.4 billion in 2012 (latest data available), 0.7% ($45 million) less than 2011 but 94% greater than 2002. Other private services (business, professional and technical services and financial services), and other transportation (port and freight services) categories accounted for most of the U.S. services exports to Hong Kong.

Imports

Hong Kong was the United States' 44th largest supplier of goods imports in 2013.

U.S. goods imports from Hong Kong totaled $5.6 billion in 2013, up 3.3% ($179 million) from 2012, but down 36% from 2003.

The five largest import categories in 2013 were: Special Other (returns) ($2.6 billion), Precious Stones and Metals (articles of jewelry) ($747 million), Electrical Machinery ($698 million), Machinery ($288 million), and Plastic ($108 million).

U.S. imports of agricultural products from Hong Kong totaled $91 million in 2013. The largest category was: snack foods (including chocolate) ($12 million). 

U.S. imports of private commercial services* (i.e., excluding military and government) were $7.0 billion in 2012 (latest data available), up 3.5% ($237 million) from 2011, and up 104% from 2002 level. Other private services, and the other transportation services (freight services) accounted for most of U.S. services imports from Hong Kong.

Trade Balance

The U.S. goods trade surplus with Hong Kong was $36.8 billion in 2013, up 15.0% ($4.8 billion) from 2012. 

The United States has a services trade deficit of an estimated $691 million with Hong Kong in 2012 (latest data available), up 68.9% from 2011.

Historial Trade Data

U.S. Goods Trade with Hong Kong (in billions of dollars)

 

 

 

1980

 

1985

 

1990

 

1994

 

2000

 

2003

 

2010

 

2011

 

2012

 

2013

 

Balance

 

-2.0

 

-5.6

 

-2.8

 

1.7

 

3.1

 

4.7

 

22.3

 

31.9

 

32.0

 

36.8

 

Exports

 

2.7

 

2.8

 

6.8

 

11.4

 

14.6

 

13.5

 

26.6

 

36.3

 

37.5

 

42.5

 

Imports

 

4.7

 

8.4

 

9.6

 

9.7

 

11.4

 

8.9

 

4.3

 

4.4

 

5.5

 

5.6

 

U.S. Private Services Trade with Hong Kong (in billions of dollars) 

 

 

 

1994

 

2000

 

2002

 

2007

 

2008

 

2009

 

2010

 

2011

 

2012

 

Balance

 

0.8

 

-0.3

 

-0.2

 

-1.5

 

-1.5

 

0.01

-0.8

-0.4

-0.7

 

Exports

 

2.8

 

3.8

 

3.3

 

5.5

 

5.8

 

5.9

5.6

6.4

 

6.4

 

Imports

 

2.0

 

4.1

 

3.5

 

7.0

 

7.3

 

5.9

6.4

6.8

 

7.0

Investment

U.S. foreign direct investment (FDI) in Hong Kong (stock) was $47.8 billion in 2012 (latest data available), a 19.4% increase from 2011.

U.S. direct investment in Hong Kong is primarily concentrated in the non bankholding companies, wholesale trade, and finance/insurance sectors.

Hong Kong FDI in the United States (stock) was $6.3 billion in 2012 (latest data available), up 27.8% from 2011.

Hong Kong direct investment in the U.S. is led by the manufacturing and wholesale trade sectors.

Sales of services in Hong Kong by majority U.S.-owned affiliates were $35.0 billion in 2011 (latest data available), while sales of services in the United States by majority Hong Kong-owned firms were $4.2 billion.           


*NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures, and other miscellaneous U.S. government services.

4/4/14