Hong Kong - Economy
How is the economy of Hong Kong? Based on the information we have, Hong Kong has a high-income tourism- and services-based economy; global financial hub; COVID-19 and political protests fueled recent recession; ongoing recovery but lower-skilled unemployment remains high; investing in job-reskilling programs. Key agricultural products in this country include: pork, chicken, spinach, vegetables, pork offal, game meat, beef, fruits, onions, pork fat (2023).
More about the economy of Hong Kong
Labor force 3.836 million (2024 est.)
Industrial production growth rate 3.4% (2024 est.)
Industries trading and logistics, financial services, professional services, tourism, cultural and creative, clothing and textiles, shipping, electronics, toys, clocks and watches
Population below poverty line
Taxes and other revenues
Fiscal year
Exchange rates
Currency Hong Kong dollars (HKD) per US dollar -
Exchange rates 2024 7.804 (2024 est.)
Exchange rates 2023 7.83 (2023 est.)
Exchange rates 2022 7.831 (2022 est.)
Exchange rates 2021 7.773 (2021 est.)
Exchange rates 2020 7.757 (2020 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $425.554 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $424.03 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $496.867 billion (2021 est.)
Current account balance
Current account balance 2024 $52.475 billion (2024 est.)
Current account balance 2023 $32.338 billion (2023 est.)
Current account balance 2022 $36.525 billion (2022 est.)
Budget
Revenues $70.124 billion (2020 est.)
Expenditures $105.849 billion (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2024 0.1% of GDP (2024 est.)
Remittances 2023 0.1% of GDP (2023 est.)
Remittances 2022 0.1% of GDP (2022 est.)
Average household expenditures
On food 11.5% of household expenditures (2023 est.)
On alcohol and tobacco 0.7% of household expenditures (2023 est.)
Imports
Imports 2024 $723.397 billion (2024 est.)
Imports 2023 $671.492 billion (2023 est.)
Imports 2022 $682.881 billion (2022 est.)
Imports (partners) China 40%, Taiwan 10%, Singapore 7%, Japan 5%, S. Korea 4% (2023)
Comodities Imports force integrated circuits, broadcasting equipment, gold, machine parts, jewelry (2023)
Exports
Imports 2024 $723.397 billion (2024 est.)
Imports 2023 $671.492 billion (2023 est.)
Imports 2022 $682.881 billion (2022 est.)
Exports (partners) China 22%, Vietnam 12%, S. Korea 8%, Netherlands 5%, Switzerland 4% (2023)
Comodities Exports force gold, integrated circuits, gas turbines, broadcasting equipment, jewelry (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $497.88 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $485.541 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $470.42 billion (2022 est.)
GDP (official exchange rate) $407.107 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $66,200 (2024 est.)
Real GDP per capita 2023 $64,400 (2023 est.)
Real GDP per capita 2022 $64,000 (2022 est.)
GDP - composition, by sector of origin
Agriculture 0% (2023 est.)
Industry 6.3% (2023 est.)
Services 91.4% (2023 est.)
GDP - composition, by end use
Household consumption 67.4% (2024 est.)
Government consumption 12.8% (2024 est.)
Investment in fixed capital 16.2% (2024 est.)
Investment in inventories -0.5% (2024 est.)
Exports of goods and services 181.7% (2024 est.)
Imports of goods and services -177.7% (2024 est.)
Unemployment rate
Unemployment rate 2024 2.8% (2024 est.)
Unemployment rate 2023 3% (2023 est.)
Unemployment rate 2022 4.4% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 8.4% (2024 est.)
Male 10.5% (2024 est.)
Female 6.3% (2024 est.)
All Important Facts about Hong Kong

Want to know more about Hong Kong? Check all different factbooks for Hong Kong below.

Hong Kong is found in Eastern Asia