Market Brief on Hong Kong February 2017
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- Daniel Mills
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1 Market Brief on Hong February 2017 Total Population 7,346,248 Area 1,100 km² Time Zone HKT UTC +8 Capital City Victoria City As one of the world's leading international financial centers, Hong 's service-oriented economy is characterized by its low taxation, almost free port trade and well established international financial market. Its currency, called the Hong dollar, is legally issued by three major international commercial banks, and pegged to the US dollar. Interest rates are determined by the individual banks in Hong to ensure it is fully market-driven. There is no officially recognized central banking system, Hong has had the highest degree of economic freedom in the world. City Population Hong Central and Western 7,012,738 Kowloon, Kowloon City 2,019,533 Tsuen Wan, Tsuen Wan 288,728 Yuen Long Kau Hui, Yuen Long 141,900 Tung Chung, Islands 45,000 Shatin, Sha Tin 21,559 Tuen Mun, Tuen Mun 16,940 Tai Po, Tai Po 16,302 Sai Kung, Sai Kung 11,927 Yung Shue Wan, 6,000 International Telephone Code Currency Exchange Rate (27/10/16) +852 Hong dollar 1 Hong Dollar equals 0.13 US Dollar GDP 310( US $ Billion) GDP per capita USD GDP Growth Rate 1.2 percent Ease of Doing 5/190 Business (World Bank 2017) Inflation Rate 1.30% (Feb.2017) Official Chinese and English Language(s) Languages - Business Hours 09:00-18:00 Banking Hours 09:00 to 17:00. Literacy Rate 96.9% Measures Important International Participation Metric System World Trade Organization Asia-Pacific Economic Cooperation
2 US $ MILLION MARKET BRIEF ON HONG KONG-2017 Hong Trade with the World ( ) 700, , , , , , ,000 0 (US $ million) 492, , , , , , , , , ,124 Source: Trade map Major Import Sources of Hong Major Export Destinations of Hong Thailand s 16% s Singapore Switzerland Malaysia India Switzerland China 45% Viet Nam Taipei, Chinese Singapore Thailand China 55% States of America 5% Korea, Republic of 6% Japan 6% Taipei, Chinese 9% Kingdom Japan India States of America
3 US $ million MARKET BRIEF ON HONG KONG-2017 Major Import Products of Hong Major Export Products of Hong s 41% integrated 2 s 37% integrated Parts of radios, telephones and TVs printed Diamonds Jewelry of precious metal Gold 5% Solar panels, other semiconduct or devices, diodes, transisitors Telephones 1 Automatic data processing Parts and accessories for office printed transformer s Solar panels, other semicondu ctor devices, diodes, transisitors Parts of radios, telephones and TVs Telephones Diamonds 15% Automatic data processing Gold Parts and 10% accessories for office Sri Lanka- Hong Trade ( ) (200) (400) (600) (298) (204) (250) (314) (472) Export Import Trade Balance
4 MARKET BRIEF ON HONG KONG-2017 US $ million Trade Balance (472) (298) (204) (250) (314) Source: Trade Map Sri Lankan products with export potential to Hong Residues, wastes of food industry, animal fodder Copper and articles Edible fruit, nuts, peel of citrus fruit, melons Meat, fish and seafood food preparations Glass and glassware Sugars and sugar confectionery Sri Lanka s from Hong (2016) Sri Lanka s Export to Hong (2016) Paper Labels Products nes Printed or Not Products of Base Metal nes Products of Plastics nes Buttons, Studs, Fasteners & Similar Products s Edible 1 Fish nes Apparel s 21% 1 Apparel & Products Textile Articles nes Telephone Sets, Audio/Vide o Equipments & Parts Woven Fabrics 50% Lobsters Woven Fabrics & Products nes Tea in Bulk 9% Transformer s Processed Food 17% Textile Articles nes Gems
5 MARKET BRIEF ON HONG KONG-2017 Trade Fairs/Solo Exhibitions and Trade Missions Exhibition Date Hong Jewelry Show March 2-6, Art Basel Hong March 23-25, Hong Flower Show March 10-19, Hong s Show (Spring) April 13-16, 2017 Hong Book Fair July 19-25, Ani-Com and Games Hong Summer 2017 dates Hong Food Expo August 17-21, Useful Addresses Preferential Trade Agreements Hong Embassy list in Sri Lanka 381 A, Bauddhaloka Mawatha Colombo Phone / Sri Lanka Consulate Address: Queen's Rd E, Wan Chai, Hong Phone: Mainland and Hong Closer Economic Partnership Arrangement (CEPA) Hong, China - New Zealand Closer Economic Partnership Agreement FTA between Hong, China and EFTA Member States FTA between Hong, China and Chile Source: EDB statistics, Trade map Prepared by: Market Development Division (EDB)
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