| Economy - overview: | Hong Kong has a free market, entrepot economy, highly dependent on international trade. Natural resources are limited, and food and raw materials must be imported. Gross imports and exports (i.e., including reexports to and from third countries) 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 has been further integrating its economy with China because China's growing openness to the world economy has made manufacturing in China much more cost effective. Hong Kong's reexport business to and from China is a major driver of growth. Per capita GDP is comparable to that of the four big economies of Western Europe. GDP growth averaged a strong 5% from 1989 to 2005, but Hong Kong suffered two recessions in the past eight years because of the Asian financial crisis in 1997-1998 and the global downturn in 2001-2002. Although the Severe Acute Respiratory Syndrome (SARS) outbreak also battered Hong Kong's economy, a solid rise in exports, a boom in tourism from the mainland because of China's easing of travel restrictions, and a return of consumer confidence resulted in the resumption of strong growth from late 2003 through 2005. |
| GDP - per capita | $36,800 (2005 est.) |
| GDP - real growth rate (%) | 7% (2005 est.) |
| Agriculture - products | fresh vegetables, poultry, fish, pork |
| GDP - composition by sector (%) | agriculture: 0.1%, industry: 10%, services: 89.9% (2005 est.) |
| Industries | textiles, clothing, tourism, banking, shipping, electronics, plastics, toys, watches, clocks |
| Population below poverty line (%) | NA |
| Debt - external | $416.5 billion (30 June 2005 est.) |
| Labor force - by occupation (%) | manufacturing 7.5%, construction 2.9%, wholesale and retail trade, restaurants, and hotels 43.7%, financing, insurance, and real estate 19.2%, transport and communications 7.9%, community and social services 18.5% |
World Rainforests
