 |
 Login |
|
|
|
|
|
|
| Government Type |
limited democracy |
| Legal System |
based on English common law |
| Currency |
Hong Kong dollar (HKD) |
| Economic Overview |
Hong Kong has a free market economy highly dependent on international trade. Natural resources are limited, and food and raw materials must be imported. 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. Hong Kong is looking to further integrate its economy with China because China's growing openness to the world economy has increased competitive pressure on Hong Kong's service industries, and Hong Kong's re-export business from China is a major driver of growth. Per capita GDP compares with the level in the four big economies of Western Europe. GDP growth averaged a strong 5% in 1989-1997, but Hong Kong has suffered two recessions in the past five years because of the Asian financial crisis in 1998 and the global downturn of 2001-2002. The Severe Acute Respiratory Syndrome (SARS) outbreak has battered Hong Kong's economy and could delay the resumption of strong growth. |
| Natural Resources |
outstanding deepwater harbor, feldspar |
| Primary Industries |
textiles, clothing, tourism, banking, shipping, electronics, plastics, toys, watches, clocks |
| Agricultural Products |
fresh vegetables; poultry, fish, pork |
| Import Commodities |
foodstuffs, transport equipment, raw materials, semimanufactures, petroleum, plastics, machinery, electrical equipment; a large share is reexported |
| Export Commodities |
electrical machinery and appliances, textiles, apparel, footwear, watches and clocks, toys, plastics, precious stones |
| Export Partners |
China 39.3%, US 21.3%, Japan 5.4%, UK 3.7%, UK 3.5%, Germany 3%, Taiwan 2.2% (2002) |
| AIRPORTS of Hong Kong |
| Hong Kong International Airport |
The airport is located at Chek Lap Kok, 34km (21 miles) northwest of Hong Kong Island |
Detals |
|
|
|
