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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 $67.3 billion in 2018. Exports were $50.6 billion; imports were $16.7 billion. The U.S. goods and services trade surplus with Hong Kong was $33.8 billion in 2018.

Hong Kong is currently our 21st largest goods trading partner with $43.8 billion in total (two way) goods trade during 2018. Goods exports totaled $37.5 billion; goods imports totaled $6.3 billion. The U.S. goods trade surplus with Hong Kong was $31.1 billion in 2018.

Trade in services with Hong Kong (exports and imports) totaled an estimated $23.5 billion in 2018. Services exports were $13.1 billion; services imports were $10.4 billion. The U.S. services trade surplus with Hong Kong was $2.7 billion in 2018.

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' 10th largest goods export market in 2018.
     
  • U.S. goods exports to Hong Kong in 2018 were $37.5 billion, down 6.2% ($2.5 billion) from 2017 but up 74.2% from 2008.  U.S. exports to Hong Kong account for 2.3% of overall U.S. exports in 2018.
     
  • The top export categories (2-digit HS) in 2018 were: electrical machinery ($11 billion), precious metal and stone (diamonds) ($9.2 billion), art and antiques ($2.2 billion), machinery ($2.1 billion), and meat (beef) ($1.6 billion).
     
  • U.S. total exports of agricultural products to Hong Kong totaled $4.0 billion in 2018, our 6th largest agricultural export market. Leading domestic export categories include: tree nuts ($1.1 billion), beef & beef products ($966 million), poultry meat & prods. (ex. eggs) ($432 million), pork & pork products ($280 million), and fresh fruit ($237 million).
     
  • U.S. exports of services to Hong Kong were an estimated $13.1 billion in 2018, 9.8% ($1.2 billion) more than 2017, and 123% greater than 2008 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' 42nd largest supplier of goods imports in 2018.
     
  • U.S. goods imports from Hong Kong totaled $6.3 billion in 2018, down 14.4% ($1.1 billion) from 2017, and down 2.7% from 2008. 
     
  • The top import categories (2-digit HS) in 2018 were: special other (returns) ($2.4 billion), electrical machinery ($984 million), precious metal and stone (diamonds) ($917 million), machinery ($329 million), and plastics ($168 million).
     
  • U.S. total imports of agricultural products from Hong Kong totaled $97 million in 2018. Leading categories include: snack foods ($16 million), fresh vegetables ($6 million), processed fruit & vegetables ($3 million), tea, including herb ($3 million), and wine and beer ($2 million).
     
  • U.S. imports of services from Hong Kong were an estimated $10.4 billion in 2018, 6.4% ($623 million) more than 2017, and 45.3% greater than 2008 levels. Leading services imports from Hong Kong to the U.S. were in the transport, financial services, and travel sectors.

Trade Balance:

  • The U.S. goods trade surplus with Hong Kong was $31.1 billion in 2018, a 4.3% decrease ($1.4 billion) over 2017.
     
  • The United States has a services trade surplus of an estimated $2.7 billion with Hong Kong in 2018, up 25.5% from 2017.

Investment:

  • U.S. foreign direct investment (FDI) in Hong Kong (stock) was $81.2 billion in 2017 (latest data available), 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 (latest data available), 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 $26.0 billion in 2016 (latest data available), while sales of services in the United States by majority Hong Kong-owned firms were $5.8 billion.