Hong Kong imported US$669 billion worth of goods from around the globe in 2022, increasing 6.7% compared to $627.3 billion during 2018.

From 2021 to 2022, the overall cost of products imported into Hong Kong fell by -6.3% from $714 billion.

Based on the average exchange rate for 2022, the Hong Kong dollar has appreciated by 0.1% against the US dollar since 2018 but weakened by -0.7% from 2021 to 2022. Hong Kong’s weaker local currency makes Hong Kong’s import purchases paid for in slightly stronger US dollars since 2021 relatively more expensive when converted starting from Hong Kong dollars.

Hong Kong’s Best International Suppliers

The latest available country-specific data shows that 70.8% of products imported into Hong Kong were supplied by exporters in: mainland China (35.6% of Hong Kong’s global total), Taiwan (7.5%), Singapore (5.2%), South Korea (5.1%), Japan (4%), United States of America (2.8%), Malaysia (2.7%), Vietnam (2.2%), United Kingdom (also 2.2%), Philippines (1.8%), Thailand (1.7%) and India (1.3%).

From a continental perspective, 84.5% of Hong Kong’s total imports by value in 2022 were purchased from fellow Asian countries. European trade partners fulfilled 8.3% of import purchases by Hong Kong while 4.8% worth originated from North America.

Much smaller percentages came from Oceania (1%) led by Australia, Latin America (0.7%) excluding Mexico but including the Caribbean, then Africa (0.6%).

Given Hong Kong ‘s population of 7.33 million people, its total $669 billion in 2022 imports translates to $91,200 in yearly product demand from every person in the Chinese administrative territory. That per-capita expenditure falls below the average $95,600 one year earlier in 2021.

Hong Kong’s Top 10 Imports

The following product groups represent the highest dollar value in Hong Kong’s import purchases during 2022. Also shown is the percentage share each product category represents in terms of overall imports into Hong Kong.

1. Electrical machinery, equipment: US$375.9 billion (56.2% of total imports)
2. Gems, precious metals: $84.9 billion (12.7%)
3. Machinery including computers: $74.8 billion (11.2%)
4. Optical, technical, medical apparatus: $15 billion (2.2%)
5. Mineral fuels including oil: $14.5 billion (2.2%)
6. Clocks, watches including parts: $7.6 billion (1.1%)
7. Perfumes, cosmetics: $7.4 billion (1.1%)
8. Collector items, art, antiques: $6.1 billion (0.9%)
9. Plastics, plastic articles: $6.1 billion (0.9%)
10. Pharmaceuticals: $4.2 billion (0.6%)

Hong Kong’s top 10 imports generated almost nine-tenths (89.2%) 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 2021 to 2022 were pharmaceuticals (up 43.3%), mineral fuels including oil (up 27.7%), collector items, art and antiques (up 20%), then gems and precious metals (up 10%).

Severest decliners were Hong Kong’s imports of optical, technical and medical apparatus (down -27.2% from 2021) and plastics (down -26.1%) both as materials and items made from plastic.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.

Information below drills down to the more detailed 4-digit level.

Hong Kong’s Main Electronics Imports

In 2022, Hong Kong importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.

1. Integrated circuits/microassemblies: US$222.5 billion (up 0.6% from 2021)
2. Phone devices including smartphones: $59.6 billion (down -27.1%)
3. Solar power diodes/semi-conductors: $18.9 billion (down -4%)
4. Recorded media including records, tapes: $11 billion (2021 data unavailable)
5. Printed circuits: $8.5 billion (down -16.6%)
6. Electrical converters/power units: $7.8 billion (down -18%)
7. Lower-voltage switches, fuses: $7.1 billion (down -19.6%)
8. TV/radio/radar device parts: $7.1 billion (down -10.2%)
9. Unrecorded sound media: $5.5 billion (down -19.4%)
10. Electric storage batteries: $4 billion (down -18.4%)

Among these import subcategories, Hong Kong’s purchases of electronic integrated circuits and microassemblies (up 0.6%) was the lone gainer from 2021 to 2022.

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 Gems and Precious Metals Imports

In 2022, Hong Kong importers spent the most on the following 10 subcategories of precious metals and gems.

1. Gold (unwrought): US$38 billion (up 30.4% from 2021)
2. Jewelry: $18.8 billion (up 7.1%)
3. Diamonds (unmounted/unset): $15.7 billion (up 2.1%)
4. Platinum (unwrought): $4.4 billion (down -36.1%)
5. Silver (unwrought): $2.4 billion (down -14.3%)
6. Precious/semi-precious stones (unstrung): $1.6 billion (down -6.3%)
7. Precious metal waste, scrap: $1.3 billion (up 6.1%)
8. Synthetic precious stones: $1 billion (up 28.8%)
9. Pearls: $419 million (up 16.3%)
10. Imitation jewelry: $340.6 million (up 7.4%)

Among these import subcategories, Hong Kong’s purchases of gold (up 30.4%), synthetic precious stones (up 28.8%) then pearls (up 16.3%) grew at the fastest pace from 2021 to 2022.

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 Machinery Imports Including Computers

In 2022, Hong Kong importers spent the most on the following 10 subcategories of machinery including computers.

1. Computer parts, accessories: US$25.4 billion (down -6% from 2021)
2. Computers, optical readers: $23.8 billion (down -12.2%)
3. Turbo-jets: $13.1 billion (up 9.7%)
4. Printing machinery: $3.2 billion (down -25.3%)
5. Machinery for making semi-conductors: $1.2 billion (down -36.4%)
6. Miscellaneous machinery: $927.8 million (down -48.6%)
7. Air or vacuum pumps: $819.1 million (down -1%)
8. Air conditioners: $794.5 million (down -7.7%)
9. Taps, valves, similar appliances: $492.7 million (down -20.9%)
10. Calculators, accounting/ticket machines, cash registers: $489.5 million (up 0.6%)

Among these import subcategories, Hong Kong’s purchases of turbo-jets (up 9.7%) and the product category encompassing calculators, accounting and ticket machines, and cash registers (up 0.6%) grew from 2021 to 2022.

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 Medical and Technical Products Imports

In 2022, Hong Kong importers spent the most on the following 10 subcategories of optical, medical and technical equipment.

1. Electro-medical equipment (e.g. xrays): US$1.9 billion (down -2% from 2021)
2. Physical/chemical analysis tools: $1.8 billion (down -0.7%)
3. Optical fiber cables, sheets, plates: $1.8 billion (down -16.3%)
4. Lenses, prisms, mirrors: $1.6 billion (up 32%)
5. Other measuring/testing machines: $1.3 billion (down -9%)
6. Oscilloscopes, spectrum analyzers: $1.1 billion (up 17.8%)
7. Spectacles, goggles: $962.3 million (up 4.7%)
8. Spectacle/goggle frames, mountings: $842.1 million (down -8.9%)
9. Regulate/control instruments: $612.3 million (down -18.1%)
10. Cameras, flash equipment: $408.5 million (up 51.5%)

Among these import subcategories, Hong Kong’s purchases of cameras and flash equipment (up 51.5%), lenses, prisms and mirrors (up 32%) then oscilloscopes or spectrum analyzers (up 17.8%) grew at the fastest pace from 2021 to 2022.

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 20, 2023

International Monetary Fund, Exchange Rates selected indicators (China P.R. Hong Kong Domestic Currency per U.S. dollar, period average). Accessed on April 20, 2023

International Trade Centre, Trade Map. Accessed on April 20, 2023

Wikipedia, Hong Kong. Accessed on April 20, 2023