Kong; Confederation of Trade Unions (pro-democracy) [LAU Chin-shek,
president; LEE Cheuk-yan, general secretary]; Federation of Hong
Kong Industries; Federation of Trade Unions (pro-China) [LEE
Chark-tim, president]; Hong Kong Alliance in Support of the
Patriotic Democratic Movement in China [Szeto WAH, chairman]; Hong
Kong and Kowloon Trade Union Council (pro-Taiwan); Hong Kong General
Chamber of Commerce; Hong Kong Professional Teachers' Union [CHEUNG
Man-kwong, president]; Liberal Democratic Federation [HU Fa-kuang,
chairman]
International organization participation: APEC, AsDB, BIS, CCC,
ESCAP (associate), ICC, ICFTU, IMO (associate), Interpol
(subbureau), IOC, ISO (correspondent), WCL, WMO, WToO (associate),
WTrO
Diplomatic representation in the US: none (special administrative region of China)
Diplomatic representation from the US: chief of mission: Consul
General Michael KLOSSON
consulate(s) general: 26 Garden Road, Hong Kong
mailing address: PSC 464, Box 30, FPO AP 96522–0002
telephone: [852] 2523–9011
FAX: [852] 2845–1598
Flag description: red with a stylized, white, five-petal bauhinia flower in the center
Hong Kong Economy
Economy - overview: Hong Kong has a bustling free market economy highly dependent on international trade. Natural resources are limited, and food and raw materials must be imported. Indeed, 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. Per capita GDP compares with the level in the four big countries of Western Europe. GDP growth averaged a strong 5% in 1989–97. The widespread Asian economic difficulties in 1998 hit this trade-dependent economy quite hard, with GDP down 5%. The economy is undergoing a rapid recovery, with growth of 10% in 2000 to be followed by projected growth of 5% in 2001.
GDP: purchasing power parity - $181 billion (2000 est.)
GDP - real growth rate: 10% (2000 est.)
GDP - per capita: purchasing power parity - $25,400 (2000 est.)
GDP - composition by sector: agriculture: 0.1%
industry: 14.3%
services: 85.6% (1999 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): 3.7% (2000 est.)
Labor force: 3.39 million (2000 est.)
Labor force - by occupation: wholesale and retail trade, restaurants, and hotels 31.5%, community and social services 24%, financing, insurance, and real estate 14.5%, transport and communications 11.6%, manufacturing 7.7%, construction 2.6% (October 1999)
Unemployment rate: 4.5% (2000 est.)
Budget: revenues: $20.8 billion
expenditures: $24.5 billion, including capital expenditures of $NA (FY99/00)
Industries: textiles, clothing, tourism, electronics, plastics, toys, watches, clocks
Industrial production growth rate: 2.1% (2000)
Electricity - production: 27.726 billion kWh (1999)
Electricity - production by source: fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1999)
Electricity - consumption: 32.202 billion kWh (1999)
Electricity - exports: 633 million kWh (1999)
Electricity - imports: 7.05 billion kWh (1999)
Agriculture - products: fresh vegetables; poultry
Exports: $204 billion (including reexports; f.o.b., 2000 est.)
Exports - commodities: clothing, textiles, footwear, electrical appliances, watches and clocks, toys
Exports - partners: China 33%, US 24%, Japan 5%, UK 4%, Germany,
Singapore (1999)
Imports: $215 billion (f.o.b., 2000)
Imports - commodities: foodstuffs, transport equipment, raw materials, semimanufactures, petroleum; a large share is reexported
Imports - partners: China 44%, Japan 12%, US 7%, Taiwan 7%, South
Korea, Singapore (1999)
Debt - external: $48.1 billion (1999)
Currency: Hong Kong dollar (HKD)
Currency code: HKD
Exchange rates: Hong Kong dollars per US dollar - 7.7990 (January 2001), 7.7912 (2000), 7.7575 (1999), 7.7453 (1998), 7.7421 (1997), 7.7343 (1996); note - Hong Kong became a special administrative region of China on 1 July 1997; before then, the Hong Kong dollar was linked to the US dollar at the rate of about 7.8 Hong Kong dollars per US dollar
Fiscal year: 1 April - 31 March
Hong Kong Communications
Telephones - main lines in use: 3.839 million (1999)
Telephones - mobile cellular: 3.7 million (December 1999)
Telephone system: general assessment: modern facilities provide excellent domestic and international services
domestic: microwave radio relay links and extensive fiber-optic network
international: satellite earth stations - 3 Intelsat (1 Pacific Ocean and 2 Indian Ocean); coaxial cable to Guangzhou, China; access to 5 international submarine cables providing connections to ASEAN member nations, Japan, Taiwan, Australia, Middle East, and Western Europe
Radio broadcast stations: AM 7, FM 13, shortwave 0 (1998)
Radios: 4.45 million (1997)
Television broadcast stations: 4 (plus two repeaters) (1997)
Televisions: 1.84 million (1997)
Internet country code: .hk
Internet Service Providers (ISPs): 17 (2000)
Internet users: 1.85 million (2000)
Hong Kong Transportation
Railways: total: 34 km
standard gauge: 34 km 1.435-m gauge (all electrified) (1996 est.)
Highways: total: 1,831 km
paved: 1,831 km
unpaved: 0 km (1997)
Waterways: none
Ports and harbors: Hong Kong
Merchant marine: total: 354 ships (1,000 GRT or over) totaling 10,330,662 GRT/17,227,315 DWT
ships by type: barge carrier 1, bulk 208, cargo 36, chemical tanker 7, combination bulk 2, container 59, liquefied gas 6, multi-functional large-load carrier 2, petroleum tanker 26, refrigerated cargo 3, short-sea passenger 1, vehicle carrier 3
note: includes some foreign-owned ships registered here