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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 $64 billion in 2013.  Exports totaled $51 billion; Imports totaled $13 billion.  The U.S. goods and services trade surplus with Hong Kong was $39 billion in 2013.

Hong Kong is currently our 18th largest goods trading partner with $48.0 billion in total (two ways) goods trade during 2013.  Goods exports totaled $42.3 billion; Goods imports totaled $5.7 billion.  The U.S. goods trade surplus with Hong Kong was $36.7 billion in 2013.

Trade in private services with Hong Kong (exports and imports) totaled an estimated $16 billion in 2013.  Services exports were $9.1 billion; Services imports were $7.1 billion.  The U.S. services trade surplus with Hong Kong was $1.9 billion in 2013.

According to the Department of Commerce. U.S. exports of Goods and Services to Hong Kong supported an estimate 215,000 jobs in 2013 (163,000 supported by goods exports and 52,000 supported by services exports).

Exports

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

U.S. goods exports to Hong Kong in 2013 were $42.3 billion, up 13.0% ($4.9 billion) from 2012, and up 213% 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) ($16.3 billion), Electrical Machinery ($8.2 billion), Aircraft ($3.2 billion), Machinery ($2.3 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 $9.1 billion in 2013, 39% ($2.6 billion) more than 2012 and 170% greater than 2003.  Other private services (business, professional and technical services, royalties and license fees, 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 $5.7 billion in 2013, up 4.2% ($229 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) ($749 million), Electrical Machinery ($698 million), Machinery ($288 million), and Plastic ($109 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 $7.1 billion in 2013, up 1.9% ($136 million) from 2012, and up 148% from 2003 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 $36.7 billion in 2013, up 14.5% ($4.6 billion) from 2012.

The United States services trade with Hong Kong went from a deficit of $486 million in 2012, to a surplus of $1.9 billion in 2013.

Investment

U.S. foreign direct investment (FDI) in Hong Kong (stock) was $58.8 billion in 2013, a 7.2% increase from 2012.

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

Hong Kong FDI in the United States (stock) was $5.9 billion in 2013, down 33.8% from 2012.

Reported Hong Kong direct investment in the U.S. is led by the wholesale trade sector.

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.

8/21/14