Diplomatic representation from the US: chief of mission: Consul General Richard A. BOUCHER consulate(s) general: 26 Garden Road, Hong Kong mailing address: PSC 464, Box 30, FPO AP 96522-0002
Flag description: red with a stylized, white, five-petal bauhinia flower in the center
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. Real GDP growth averaged a remarkable 8% in 1987-88 and a still strong 5% in 1989-97. The widespread Asian economic difficulties in 1998 hit this trade-dependent economy quite hard, with GDP down 5%.
GDP: purchasing power parity—$168.1 billion (1998 est.)
GDP—real growth rate: -5% (1998 est.)
GDP—per capita: purchasing power parity?$25,100 (1998 est.)
GDP—composition by sector: agriculture: 0.1% industry: 15.9% services: 84% (1997 est.)
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%