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Friday, 20 November 2009   |   Last Updated: 23 July 2009

 

Hong Kong

Hong Kong FlagU.S.-Hong Kong Trade Facts

U.S. goods and services trade with Hong Kong totaled $40 billion in 2007 (latest data available). Exports totaled $26 billion; Imports totaled $14 billion. The U.S. goods and services trade surplus with Hong Kong was $12 billion in 2007.

Hong Kong is currently our 26th largest goods trading partner with $28.0 billion in total (two ways) goods trade during 2008. Goods exports totaled $21.5 billion; Goods imports totaled $6.5 billion. The U.S. goods trade surplus with Hong Kong was $15.0 billion in 2008.

Trade in services with Hong Kong (exports and imports) totaled $12.7 billion in 2007 (latest data available). Services exports were $5.8 billion; Services imports were $6.9 billion. The U.S. services trade deficit with Hong Kong was $1.1 billion in 2007 (latest data available).

Exports

Hong Kong was the United States' 16th largest goods export market in 2008.

U.S. goods exports to Hong Kong in 2008 were $21.5 billion, up 6.9% ($1.4 billion) from 2007, and up 88% from 1994 (the year prior to Uruguay Round). U.S. exports to Hong Kong account for 1.7% of overall U.S. exports in 2008, down from 2.2% in 1994.

The top export categories (2-digit HS) in 2008 were: Electrical Machinery ($5.8 billion), Precious Stones and Metals (diamonds) ($3.5 billion), Machinery ($2.1 billion), Plastic ($1.3 billion), and Optic and Medical Instruments ($1.2 billion).

U.S. exports of agricultural products to Hong Kong totaled $1.7 billion in 2008, the 13th largest U.S. Ag export market. Leading categories include: red meats ($399 million), tree nuts ($314 million), hides and skins ($202 million), and fresh fruit ($172 million)

U.S. exports of private commercial services* (i.e., excluding military and government) to Hong Kong were $5.8 billion in 2007 (latest data available), 18.1% ($889 million) greater than 2006 and 107% ($3.0 billion) greater than 1994. Other private services (financial services, and business, professional, and technical services), and other transportation categories accounted for most of the U.S. exports in 2007.

Imports

Hong Kong was the United States' 42nd largest supplier of goods imports in 2008.

U.S. goods imports from Hong Kong totaled $6.5 billion in 2008, a 7.7% decrease ($543 million) from 2007, and down 33% from 1994.

The five largest import categories in 2008 were: Electrical Machinery ($1.0 billion), Special Other (returns) ($996 million), Precious Stones and Metals (articles of jewelry) ($904 million), Knit Apparel ($878 million), and Woven Apparel ($681 million),

U.S. imports of agricultural products from Hong Kong totaled $75 million in 2008. The largest category was: snack foods (including chocolate) ($11 million).

U.S. imports of private commercial services* (i.e., excluding military and government) were $6.9 billion in 2007 (latest data available), up 12.5% ($763 million) from 2006, and up 246% ($4.9 billion) from 1994 level. Other private services (business, professional and technical services), and the other transportation categories accounted for most of U.S. services imports from Hong Kong.

Trade Balance

The U.S. goods trade surplus with Hong Kong was $15.0 billion in 2008, a 14.7% increase ($1.9 billion) over 2007.

The United States has a services trade deficit of $1.1 billion with Hong Kong in 2007 (latest data available).

Investment

U.S. foreign direct investment (FDI) in Hong Kong (stock) was $47.4 billion in 2007 (latest data available), a 15.6% increase from 2006.

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

Hong Kong FDI in the United States (stock) was $3.2 billion in 2007 (latest data available), up 0.9% from 2006.

Hong Kong direct investment in the U.S. is mostly in the manufacturing, and wholesale trade sectors.

Sales of services in Hong Kong by majority U.S.-owned affiliates were $17.6 billion in
2006 (latest data available), while sales of services in the United States by majority Hong Kong-owned firms were $2.9 billion.

 

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