Tuesday, June 18, 2019

Trade Nigeria Organization: Strategic Position of Hong Kong


Hong Kong is the world’s freest economy. It is the world's most services-oriented economy, with services sectors accounting for more than 90% of GDP.


  • According to the World Trade Organization (WTO), Hong Kong is the world's 8th largest exporter of merchandise trade and the world's 15th largest exporter of commercial services in 2018.
  • According to the UNCTAD World Investment Report 2018, global FDI inflows to Hong Kong amounted to US$104 billion in 2017, ranked 3rd globally, behind only Mainland China (US$136 billion) in Asia.
  • In terms of outflows, Hong Kong ranked 3rd in Asia with US$83 billion, after Japan (US$160 billion) and Mainland China (US$125 billion).
  • In terms of FDI stock, Hong Kong was the world’s 2nd largest investor and host, after the United States, in 2017.
  • According to a triennial survey conducted by the Bank for International Settlements, Hong Kong is the 2nd largest foreign exchange market in Asia and the 4th largest in the world in 2016, with the net daily average turnover of forex transactions reaching US$437 billion.
  • Hong Kong is a global offshore RMB business hub. According to SWIFT, Hong Kong is the largest offshore RMB clearing centre in 2018, sharing about 79% of the world’s RMB payments.
  • As at the end of December 2018, Hong Kong's stock market ranked the 3rd largest in Asia and the 5th largest in the world in terms of market capitalisation. There were 2,315 companies listed on HKEx and the total market capitalisation of Hong Kong's stock market reached US$3.82 trillion.
  • Hong Kong is an important banking and financial centre in the Asia Pacific. Hong Kong is the 3rd leading global financial centre, only after London and New York, according to the Global Financial Centre Index.
  • The Hong Kong International Airport is the world's busiest airport for international air cargo since 1996. Hong Kong is also one of the world's busiest container ports. In 2018, Hong Kong ranked 7th in the world in terms of container throughput.

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