You are here

Hong Kong

U.S.-Hong Kong Trade Facts

Hong Kong is a Special Administrative Region of the People's Republic of China.  It operates as a separate customs territory.

U.S. goods and services trade with Hong Kong totaled an estimated $69.0 billion in 2017. Exports were $51.9 billion; imports were $17.2 billion. The U.S. goods and services trade surplus with Hong Kong was $34.7 billion in 2017.

Hong Kong is currently our 19th largest goods trading partner with $47.3 billion in total (two way) goods trade during 2017. Goods exports totaled $39.9 billion; goods imports totaled $7.4 billion. The U.S. goods trade surplus with Hong Kong was $32.6 billion in 2017.

Trade in services with Hong Kong (exports and imports) totaled an estimated $21.7 billion in 2017. Services exports were $11.9 billion; services imports were $9.8 billion. The U.S. services trade surplus with Hong Kong was $2.1 billion in 2017.

According to the Department of Commerce, U.S. exports of Goods and Services to Hong Kong supported an estimated 188 thousand jobs in 2015 (latest data available) (125 thousand supported by goods exports and 63 thousand supported by services exports).

Exports:

  • Hong Kong was the United States' 9th largest goods export market in 2017.

  • U.S. goods exports to Hong Kong in 2017 were $39.9 billion, up 14.5% ($5.0 billion) from 2016 and up 100.7% from 2007.  U.S. exports to Hong Kong account for 2.6% of overall U.S. exports in 2017. 

  • The top export categories (2-digit HS) in 2017 were: electrical machinery ($12 billion), precious metal and stone (diamonds) ($12 billion), machinery ($1.9 billion), meat (beef) ($1.7 billion), and art and antiques ($1.6 billion).

  • U.S. total exports of agricultural products to Hong Kong totaled $4.3 billion in 2017, our 6th largest agricultural export market. Leading domestic export categories include: tree nuts ($1.3 billion), beef & beef products ($884 million), poultry meat & prods. (ex. eggs) ($468 million), pork & pork products ($415 million), and fresh fruit ($291 million).

  • U.S. exports of services to Hong Kong were an estimated $11.9 billion in 2017, 19.2% ($1.9 billion) more than 2016, and 114% greater than 2007 levels.  Leading services exports from the U.S. to Hong Kong were in the intellectual property (trademarks), transport, and financial services sectors.

Imports:

  • Hong Kong was the United States' 37th largest supplier of goods imports in 2017.
  • U.S. goods imports from Hong Kong totaled $7.4 billion in 2017, down 0.4% ($31 million) from 2016, but up 5.0% from 2007.

  • The top import categories (2-digit HS) in 2017 were: special other (returns) ($2.4 billion), precious metal and stone (diamonds) ($1.8 billion), electrical machinery ($926 million), machinery ($348 million), and toys and sports equipment ($185 million).

  • U.S. total imports of agricultural products from Hong Kong totaled $97 million in 2017. Leading categories include: snack foods ($15 million), fresh vegetables ($5 million), processed fruit & vegetables ($4 million), tea, including herb ($3 million), and planting seeds ($2 million).

  • U.S. imports of services from Hong Kong were an estimated $9.8 billion in 2017, 10.1% ($900 million) more than 2016, and 39.3% greater than 2007 levels.  Leading services imports from Hong Kong to the U.S. were in the financial services, travel, and professional and management services sectors.

Trade Balance:

  • The U.S. goods trade surplus with Hong Kong was $32.6 billion in 2017, a 18.5% increase ($5.1 billion) over 2016.

  • The United States has a services trade surplus of an estimated $2.1 billion with Hong Kong in 2017, up 62.8% from 2016.

Investment:

  • U.S. foreign direct investment (FDI) in Hong Kong (stock) was $81.2 billion in 2017, a 17.8% increase from 2016. U.S. direct investment in Hong Kong is led by nonbank holding companies, wholesale trade, and finance and insurance.

  • Hong Kong's FDI in the United States (stock) was $11.0 billion in 2017, down 1.7% from 2016. Hong Kong's direct investment in the U.S. is led by wholesale trade, manufacturing, and real estate.

  • Sales of services in Hong Kong by majority U.S.-owned affiliates were $29.3 billion in 2015 (latest data available), while sales of services in the United States by majority Hong Kong-owned firms were $5.7 billion.