Based on the average exchange rate for 2021, the Hong Kong dollar has appreciated by 0.3% against the US dollar since 2017 but weakened by -0.2% from 2020 to 2021. Hong Kong’s weaker local currency makes Hong Kong’s import purchases paid for in slightly stronger US dollars since 2020 relatively more expensive when converted starting from Hong Kong dollars.
Hong Kong’s most valuable imported products include electronic integrated circuits and microassemblies, phone devices including smartphones, gold, computers, computers parts or accessories, then liquid crystal, laser and optical tools.
From a continental perspective, 85.8% of Hong Kong’s total imports by value in 2021 were purchased from fellow Asian countries. European trade partners fulfilled 7.2% of import purchases by Hong Kong while 4.7% worth originated from North America.
Much smaller percentages came from Latin America (0.9%) excluding Mexico but including the Caribbean, Oceania (0.8%) led by Australia, and Africa (0.5%).
Given Hong Kong ‘s population of 7.5 million people, its total $713.9 billion in 2021 imports translates to a formidable $95,600 in yearly product demand from every person in the Chinese administrative territory. That per-capita expenditure compares with an average $76,700 one year earlier in 2020.
Hong Kong’s Top 10 Imports
The following product groups represent the highest dollar value in Hong Kong’s import purchases during 2021. Also shown is the percentage share each product category represents in terms of overall imports into Hong Kong.
- Electrical machinery, equipment: US$403.4 billion (56.5% of total imports)
- Machinery including computers: $82.7 billion (11.6%)
- Gems, precious metals: $77.2 billion (10.8%)
- Optical, technical, medical apparatus: $20.6 billion (2.9%)
- Mineral fuels including oil: $11.3 billion (1.6%)
- Perfumes, cosmetics: $8.8 billion (1.2%)
- Clocks, watches including parts: $8.4 billion (1.2%)
- Plastics, plastic articles: $8.3 billion (1.2%)
- Collector items, art, antiques: $5.1 billion (0.7%)
- Fruits, nuts: $4.8 billion (0.7%)
Hong Kong’s top 10 imports accounted for well over four-fifths (88.3%) of the overall value of the Chinese province’s product purchases from other trade partners.
The fastest growers among Hong Kong’s top imports from 2020 to 2021 were collector items, art and antiques (up 76.4%), gems and precious metals (up 41%) then clocks and watches including parts (up 36%).
The most modest year-over-year advance belongs to Hong Kong’s imports of perfumes and cosmetics via a 2.9% increase.
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under the adjacent virtual folder tabs labeled with a product grouping is at the more granular 4-digit level.
Hong Kong’s Main Electronics Imports
In 2021, Hong Kong importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.
- Integrated circuits/microassemblies: US$221.2 billion (up 30.9% from 2020)
- Phone devices including smartphones: $81.8 billion (up 18.2%)
- Solar power diodes/semi-conductors: $19.7 billion (up 25.5%)
- Printed circuits: $10.2 billion (up 17.5%)
- Electrical converters/power units: $9.5 billion (up 19.4%)
- Lower-voltage switches, fuses: $8.8 billion (up 24.8%)
- TV/radio/radar device parts: $7.9 billion (up 19.9%)
- Electrical capacitators: $6.9 billion (up 22.8%)
- Unrecorded sound media: $6.4 billion (up 7.3%)
- Electric storage batteries: $4.9 billion (up 38.1%)
Among these import subcategories, Hong Kong’s purchases of electric storage batteries (up 38.1%), electronic integrated circuits or microassemblies (up 30.9%) then solar power diodes and semi-conductors (up 25.5%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Hong Kong businesses and consumers.
Hong Kong’s Main Machinery Imports Including Computers
In 2021, Hong Kong importers spent the most on the following 10 subcategories of machinery including computers.
- Computers, optical readers: US$27.1 billion (up 30.4% from 2020)
- Computer parts, accessories: $27 billion (up 30.8%)
- Turbo-jets: $12 billion (up 6.8%)
- Printing machinery: $4.3 billion (up 17%)
- Machinery for making semi-conductors: $1.9 billion (up 56.3%)
- Miscellaneous machinery: $1.8 billion (up 13.4%)
- Air conditioners: $861.1 million (up 9.8%)
- Air or vacuum pumps: $827.2 million (up 19.7%)
- Taps, valves, similar appliances: $623.1 million (up 33.8%)
- Ball, roller bearings: $489.7 million (down -1.6%)
Among these import subcategories, Hong Kong’s purchases of machinery for making semi-conductors (up 56.3%), taps, valves and similar appliances (up 33.8%) then computer parts or accessories (up 30.8%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Hong Kong businesses and consumers.
Hong Kong’s Main Gems and Precious Metals Imports
In 2021, Hong Kong importers spent the most on the following 10 subcategories of precious metals and gems.
- Gold (unwrought): US$29.1 billion (up 54.3% from 2020)
- Jewelry: $17.6 billion (up 55%)
- Diamonds (unmounted/unset): $15.4 billion (up 34.9%)
- Platinum (unwrought): $6.9 billion (up 16.5%)
- Silver (unwrought): $2.8 billion (up 129.1%)
- Precious/semi-precious stones (unstrung): $1.7 billion (up 62.1%)
- Precious metal waste, scrap: $1.2 billion (down -67.3%)
- Synthetic precious stones: $800.7 million (up 69.2%)
- Pearls: $360.2 million (up 103.9%)
- Imitation jewelry: $317.1 million (up 45.8%)
Among these import subcategories, Hong Kong’s purchases of unwrought silver (up 129.1%), pearls (up 103.9%) then synthetic precious stones (up 69.2%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported precious metals and gems among Hong Kong businesses and consumers.
Hong Kong’s Main Medical and Technical Products Imports
In 2021, Hong Kong importers spent the most on the following 10 subcategories of optical, medical and technical equipment.
- Liquid crystal/laser/optical tools: US$5.3 billion (up 33.6% from 2020)
- Optical fiber cables, sheets, plates: $2.1 billion (up 11.5%)
- Electro-medical equip (e.g. xrays): $2 billion (up 15.7%)
- Physical/chemical analysis tools: $1.9 billion (up 10.2%)
- Other measuring/testing machines: $1.4 billion (up 10.2%)
- Lenses, prisms, mirrors: $1.2 billion (up 18.2%)
- Spectacle/goggle frames, mountings: $924.0 million (up 22.1%)
- Spectacles, goggles: $918.8 million (up 31.7%)
- Oscilloscopes, spectrum analyzers: $910.3 million (down -14.7%)
- Regulate/control instruments: $747.7 million (up 26.4%)
Among these import subcategories, Hong Kong’s purchases of liquid crystal, laser or optical tools (up 33.6%), spectacles and goggles (up 31.7%) then regulating or control instruments (up 26.4%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported optical, medical and technical equipment among Hong Kong businesses and consumers.
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 10 Exports and Hong Kong’s Top 10 Imports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 3, 2022
International Monetary Fund, Exchange Rates selected indicators (China P.R. Hong Kong Domestic Currency per U.S. dollar, period average). Accessed on April 3, 2022
International Trade Centre, Trade Map. Accessed on April 3, 2022
Wikipedia, Hong Kong. Accessed on April 3, 2022
