Economic and Trade Info
About Hong Kong
- Commerce and Economic Development Bureau of HKSARG
- Trade and Industry Department of HKSARG
- InvestHK of HKSARG
- Hong Kong Trade Development Council
Hong Kong's Trade and Economic Relations with Taiwan
Points-to-Note:
- The average annual growth rate in bilateral trade between Hong Kong and Taiwan from 2016 to 2020 was 8.3%. The total trade increased by 20.4% in 2020.
- In 2020, Taiwan was Hong Kong's second largest trading partner; third largest market for domestic exports; fifth largest market for re-exports; and second largest source of imports.
- According to statistics published by Taiwan #, Hong Kong was Taiwan's fourth largest trading partner, third largest export market and 27th largest source of imports in 2020.
- Hong Kong is an important entrepôt for Cross-Strait indirect trade. Indirect trade increased by 14.4% in 2020. In 2020, HK$470.7 billion (US$60.7 billion) worth of trade between Mainland China and Taiwan was routed through Hong Kong, representing around 22.8% of the total trade between Mainland China and Taiwan.
# Source: "Bureau of Foreign Trade" of Taiwan
Summary of Hong Kong's Trade with Taiwan
| 2019 | % Change over 2018 |
2020 | % Change over 2019 |
|
|---|---|---|---|---|
| (a) Domestic Exports | HK$1,945 (US$248) |
-21.2 | HK$2,822 (US$364) |
+45.1 |
| (b) Re-exports | HK$86,330 (US$11,017) |
+3.1 | HK$95,684 (US$12,335) |
+10.8 |
| -of Mainland origin | HK$43,933 (US$5,607) 50.9%* |
+12.3 | HK$44,954 (US$5,795) 47.0%* |
+2.3 |
| (c) Total Exports [(a)+(b)] |
HK$88,275 (US$11,265) |
+2.4 | HK$98,507 (US$12,699) |
+11.6 |
| (d) Imports | HK$330,454 (US$42,171) |
-2.4 | HK$405,695 (US$52,300) |
+22.8 |
| (e) Total Trade [(c)+(d)] |
HK$418,728 (US$53,437) |
-1.4 | HK$504,201 (US$65,000) |
+20.4 |
| (f) Balance of Trade [(c)-(d)] |
-HK$242,179 (-US$30,906) |
-HK$307,188 (-US$39,601) |
*Figures denote percentage share of Mainland-origin re-exports in Total Re-exports.
Economic Indicators
| Hong Kong# | |||
|---|---|---|---|
| 2017 | 2018 | 2019 | |
| Population (million) | 7.4 | 7.5 | 7.5 |
| Current GDP(US$ billion) | 341 | 362 | 366 |
| Current GDP per capita (US$) | 46,161 | 48,540 | 48,755 |
| Real GDP growth (% change) | 3.8 | 2.9 | -1.2 |
| CPI (% change) | 1.5 | 2.4 | 2.9 |
| Unemployment (%) | 3.1 | 2.8 | 2.9 |
# Source: Hong Kong Census and Statistics Department.
Essential Facts on Trade between Hong Kong and Taiwan
Domestic Exports
In 2020, Hong Kong's major domestic export items to Taiwan were non-ferrous metals (30.2%); jewelry, goldsmiths’ and silversmiths’ wares, and other articles of precious or semi-precious materials (29.6%); and metalliferous ore and metal scrap (13.1%).
Re-exports
In 2020, Hong Kong's major re-export items to Taiwan were electrical machinery, apparatus and appliances, and electrical parts thereof (48.4%); office machines and automatic data processing machines (15.0%); and telecommunications and sound recording and reproducing apparatus and equipment (8.5%).
Imports
In 2020, Hong Kong's major import items from Taiwan were electrical machinery, apparatus and appliances, and electrical parts thereof (77.9%); office machines and automatic data processing machines (6.0%); and telecommunications and sound recording and reproducing apparatus and equipment (3.2%).
Bilateral Trade of Services
- Between 2014 and 2018, the average annual growth rate of Hong Kong's exports of services to Taiwan was -1.5%. In 2018, the value of total exports of services to Taiwan increased by 10.4% to HK$30.8 billion (US$3.9 billion) as compared to the previous year, equivalent to 3.7% of Hong Kong's total exports of services. Major items of exports of services include transport, travel and financial services.
- From 2014 and 2018, the average annual growth rate of Hong Kong's imports of services from Taiwan was 1.3%. In 2018, the values of total imports of services from Taiwan increased by 2.2% to HK$26.1 billion (US$3.3 billion) as compared to the previous year, equivalent to 4.2% of Hong Kong's total imports of services. Major items of services imports include travel, transport and other business services.
Bilateral Investment
- At the end of 2019, Taiwan was the 12th major source of inward direct investment (IDI) into Hong Kong, with an IDI stock of HK$115.0 billion (US$14.7 billion). The IDI flow from Taiwan was HK$12.2 billion (US$1.6 billion) in 2019.
- At the end of 2019, Taiwan was outside the 20th major destination of outward direct investment (ODI) from Hong Kong. As such, relevant investment data are not released by Hong Kong Census and Statistics Department.
- As of June 2020, 28 regional headquarters, 103 regional offices and 226 local offices were set up by Taiwanese companies in Hong Kong.
