That dollar amount results from a 16.1% gain in Hong Kong’s export revenues compared to $551.5 billion during 2020.
From 2023 to 2024, the sales of exported goods from Hong Kong accelerated by 11.2% starting from $576.1 billion.
Based on the average exchange rate for 2024, the Hong Kong dollar at December 2024 has depreciated by -0.3% against the US dollar since December 2020 but strengthened by 0.5% from December 2023 to 2024. Hong Kong’s stronger local currency since 2023 makes exports paid for in modestly weaker US dollars slightly more expensive for international buyers starting from American currency.
Hong Kong’s Best International Trade Customers
The latest available country-specific data shows that 86.7% of products exported from Hong Kong were bought by importers in: mainland China (59.1% of Hong Kong’s global total), United States of America (6.3%), Vietnam (3.1%), India (3%), Taiwan (2.9%), Thailand (2.7%), United Arab Emirates (2.3%), Japan (1.62%), Singapore (1.6%), South Korea (1.47%), Netherlands (1.4%) and the United Kingdom (1.3%).
From a continental perspective, 82.7% of Hong Kong’s exports by value was delivered to fellow Asian countries while 8% was sold to importers in Europe. Hong Kong shipped another 7.3% worth of goods to buyers in North America.
Tinier percentages went to customers in Latin America (0.9%) excluding Mexico but including the Caribbean, Oceania (0.6%) led by Australia and New Zealand, then Africa (0.56%).
Given Hong Kong’s population of 7.53 million people, its total $640.6 billion in 2024 exports translates to roughly $85,000 for every resident in the Chinese administrative territory. That per-capita metric exceeds the average $83,500 for 2023.
Hong Kong’s Top 10 Exports
The following export product groups represent the highest dollar value in Hong Kong global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Hong Kong.
- Electrical machinery, equipment: US$368.7 billion (57.6% of total exports)
- Machinery including computers: $94.2 billion (14.7%)
- Gems, precious metals: $92.5 billion (14.4%)
- Optical, technical, medical apparatus: $14.1 billion (2.2%)
- Clocks, watches including parts: $6.3 billion (1%)
- Plastics, plastic articles: $4.9 billion (0.8%)
- Collector items, art, antiques: $4.6 billion (0.7%)
- Perfumes, cosmetics: $4.4 billion (0.7%)
- Knit or crochet clothing, accessories: $3.2 billion (0.5%)
- Clothing, accessories (not knit or crochet): $3 billion (0.5%)
Hong Kong’s top 10 export categories above generated 93% of the overall value of its global shipments.
Machinery including computers was the fastest grower among the top 10 export categories, up by 29.3% from 2023 to 2024.
In second place for improving export sales was gems and precious metals via a 13.2% advance, led by gold.
Hong Kong’s shipments of electrical machinery and equipment posted the third-fastest gain in value, up by 9.7%.
The leading decliner among Hong Kong’s top 10 export categories was collector items, art and antiques, pulled down by a -32.7% year-over-year drop.
At the more detailed four-digit Harmonized Tariff System (HTS) code level, Hong Kong’s most valuable exported products are electronic integrated circuits and microassemblies (34.4% of its total) trailed by unwrought gold (8.8%) and phone devices including smartphones (also 8.8%).
Other major exported goods from Hong Kong include computers including optical readers (5.7%), computer parts or accessories (4.4%), solar power diodes and semi-conductors (2.5%), turbo-jets (2.3%), unmounted diamonds (1.9%), flat panel displays (also 1.9%) then jewelry (1.6%).
Products Generating Greatest Trade Surpluses for Hong Kong
The following types of Hong Kong product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Machinery including computers: US$7.2 billion (Up by 50.8% since 2023)
- Optical, technical, medical apparatus: $1.5 billion (Up by 22.9%)
- Glass: $423.8 million (Down by -22.1%)
- Other base metals: $334.8 million (Up by 41.9%)
- Copper: $283 million (Down by -3.4%)
- Special woven/tufted fabric, embroidery: $278.3 million (Up by 9.6%)
- Inorganic chemicals: $187.4 million (Reversing a -$3.1 million deficit)
- Miscellaneous manufactured articles: $170.1 million (Up by 396.1%)
- Organic chemicals: $168.1 million (Reversing a -$1.1 billion deficit)
- Other base metal goods: $164.4 million (Up by 2.7%)
Hong Kong had highly positive net exports in the international trade of machinery including computers in 2024. In turn, these cashflows indicate Hong Kong’s strong competitive advantages under the machinery including computers product category.
Products Causing Greatest Trade Deficits for Hong Kong
Overall, Hong Kong incurred a -US$58.3 billion trade deficit for 2024, reducing by -26.5% from -$79.4 billion in red ink one year earlier in 2023.
Below are exports from Hong Kong that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Hong Kong’s goods trail spending on foreign products by importers in Hong Kong.
- Gems, precious metals: -US$18.4 billion (Down by -35.6% since 2023)
- Mineral fuels including oil: -$14.1 billion (Up by 2.2%)
- Electrical machinery, equipment: -$3.4 billion (Down by -59.2%)
- Meat: -$2.4 billion (Up by 9.5%)
- Fish: -$2.13 billion (Down by -11.6%)
- Vehicles: -$2.1 billion (Down by -20.9%)
- Beverages, spirits, vinegar: -$1.7 billion (Down by -2%)
- Pharmaceuticals: -$1.7 billion (Down by -5.7%)
- Aircraft, spacecraft: -$1.65 billion (Down by -13.5%)
- Knit or crochet clothing, accessories: -$1.5 billion (Up by 325%)
Historically, Hong Kong posts highly negative net exports and therefore deep international trade deficits, notably for precious metal jewelry, gold, unmounted diamonds and platinum under the gems and precious metals product category.
These cashflow deficiencies clearly indicate Hong Kong’s competitive disadvantages in the gems and precious metals market but also represent key opportunities for Hong Kong to improve its position in the global economy through focused innovations.
Major Hong Kong Export Companies
Fifty-eight corporations based in Hong Kong ranked on the Forbes Global 2000. Below is a sample of the major Hong Kong companies that Forbes included.
- Belle International Holdings (clothing, footwear)
- China Agri-Industries (diversified chemicals)
- China Mengniu Dairy (food processing)
- Citic Pacific (iron, steel)
- CNOOC (oil, gas)
- Lenovo Group (computer hardware)
- Michael Kors Holdings (clothing accessories)
- TPV Technology (computer storage devices)
- ZTE (communications equipment)
According to global trade intelligence firm Zepol, the following are smaller exporting firms working out of Hong Kong.
- E Bo Toys (tricycles, other wheeled toys)
- Fine Ceramic (ceramic kitchenware/tableware)
- Forever Bright Lighting (chandeliers, light fittings)
- Perfect Electronic (burglar/fire alarms)
- Wieson Technologies (electric switches, protectors, conductors, connectors)
In macroeconomic terms, total products exported from Hong Kong represent 113.2% of its overall Gross Domestic Product for 2024 ($565.9 billion valued in Purchasing Power Parity US dollars). That 120.6% for exports to overall GDP in PPP for 2024 compares to 120.6% three years earlier. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Hong Kong’s total economic performance, albeit based on a short timeframe.
Hong Kong is one of the world’s most powerful trading hubs.
Note that Hong Kong’s export metrics encompass a significant amount of re-exporting activity.
Another key indicator of a country’s economic performance is its unemployment rate. Hong Kong’s unemployment rate averaged 3% in 2024, up from an average 2.975% one year earlier in 2023 according to the International Monetary Fund statistics.
As a Special Administrative “Region” of China, Hong Kong serves as its own capital city.
See also China’s Top 10 Imports, China’s Top Trading Partners, Top Chinese Trade Balances, China’s Top 10 Major Export Companies, Hong Kong’s Top Trading Partners and Hong Kong’s Top 10 Imports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on November 4, 2025
EXCHANGE-RATES.org, Exchange Rates (China P.R. Hong Kong Domestic Currency per U.S. dollar, period average). Accessed on November 4, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on November 4, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on November 4, 2025
International Trade Centre, Trade Map. Accessed on November 4, 2025
Investopedia, Net Exports Definition. Accessed on November 4, 2025
Wikipedia, Gross domestic product. Accessed on November 4, 2025
Wikipedia, Hong Kong. Accessed on November 4, 2025
Wikipedia, List of companies of Hong Kong. Accessed on November 4, 2025
Wikipedia, Purchasing power parity. Accessed on November 4, 2025
Zepol’s company summary highlights by country. Accessed on November 4, 2025