Hong Kong

Covid-19 casting a long shadow on the economy

BB2

MEDIUM RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in February 2022.

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GDP USD346.59bn (World ranking 35, World Bank 2020)
Population 7.5mn (World ranking 102, World Bank 2020)
Form of state Special Administrative Region of the People’s Republic of China
Head of government Carrie Lam (Chief Executive)
Next elections December 2021, legislative
  • Gateway to mainland China, close ties with the Chinese market (competitive advantage for trade, finance and services)
  • Strong external liquidity and public debt position
  • Sound banking system and proven monetary policy framework
  • Very strong business environment
  • Long-term competition from Mainland China cities
  • Sensitive to political developments in Mainland China and U.S.-China relations.
  • As a small, very open and financially integrated economy, Hong Kong is highly sensitive to global economic and financial shocks
  • Exposed to local property sector price fluctuations

Trade structure by destination/origin

(% of total, 2020)

Exports Rank Imports
China 55.2%
1
43.8% China
United States 7.2%
2
9.4% Taiwan
United-Kingdom 3.3%
3
7.2% Singapore
Switzerland 2.7%
4
5.8% Japan
Japan 2.6%
5
5.7% Korea, Republic of

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Electrical machinery, apparatus and appliances, n.e.s. 40.5%
1
41.3% Electrical machinery, apparatus and appliances, n.e.s.
Office machines and automatic data processing machines 16.5%
2
13.3% Office machines and automatic data processing machines
Telecommunication and sound recording apparatus 9.1%
3
9.1% Telecommunication and sound recording apparatus
Gold, non-monetary (excluding gold ores and concentrates) 8.2%
4
4.1% Miscellaneous manufactured articles, n.e.s.
Miscellaneous manufactured articles, n.e.s. 3.6%
5
4.0% Gold, non-monetary (excluding gold ores and concentrates)
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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