Hong Kong has a bustling free market economy
highly dependent on international trade. Natural resources are
limited, and food and raw materials must be imported. Indeed, imports
and exports, including reexports, each exceed GDP in dollar value.
Even before Hong Kong reverted to Chinese administration on 1 July
1997 it had extensive trade and investment ties with China. Per capita
GDP compares with the level in the four big countries of Western
Europe. GDP growth averaged a strong 5% in 1989-97. The widespread
Asian economic difficulties in 1998 hit this trade-dependent economy
quite hard, with GDP down 5%. The economy is recovering, with growth
of 1.8% in 1999 to be followed by projected growth of 3.7% in 2000.

purchasing power parity - $158.2 billion (1999 est.)

1.8% (1999 est.)

purchasing power parity - $23,100 (1999 est.)

agriculture: 0.1%
industry: 14.7%
services: 85.2% (1997 est.)

NA%

lowest 10%: NA%
highest 10%: NA%

-4% (1999 est.)

3.36 million (1998 est.)

wholesale and retail trade, restaurants,
and hotels 31.9%, social services 9.9%, manufacturing 9.2%, financing,
insurance, and real estate 13.1%, transport and communications 5.7%,
construction 2.6%, other 27.6% (October 1998)

6% (1999 est.)

revenues: $23.1 billion
expenditures: $25.1 billion, including capital expenditures of $NA
(FY98/99)

textiles, clothing, tourism, electronics, plastics, toys,
watches, clocks

-8.7% (1998 est.)

29.529 billion kWh (1998)

fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)

34.612 billion kWh (1998)

610 million kWh (1998)

7.76 billion kWh (1998)

fresh vegetables; poultry

$169.98 billion (including reexports; f.o.b., 1999 est.)

clothing, textiles, footwear, electrical
appliances, watches and clocks, toys

China 34%, US 23%, Japan 5%, Germany 4%, UK 4%,
Singapore 2% (1998)

$174.4 billion (c.i.f., 1999)

foodstuffs, transport equipment, raw materials,
semimanufactures, petroleum; a large share is reexported

China 41%, Japan 13%, US 8%, Taiwan 7%, South
Korea 5%, Singapore 4% (1998)

$48.1 billion (1999)

none

1 Hong Kong dollar (HK$) = 100 cents

Hong Kong dollars (HK$) per US$ - 7.7780 (January
2000), 7.7575 (1999), 7.7453 (1998), 7.7427 (1997), 7.730 (1996),
7.800 (1995); note - Hong Kong became a special administrative region
of China on 1 July 1997; before then, linked to the US dollar at the
rate of about 7.8 HK$ per 1 US$

1 April - 31 March