Diplomatic representation in the US: none (special administrative region of China)
Diplomatic representation from the US: Consul General Michael KLOSSON consulate(s) general: 96522-0002 telephone: [852] 2523-9011 FAX: [852] 2845-1598
Flag description: red with a stylized, white, five-petal bauhinia flower in the center
Economy Hong Kong
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. Per capita GDP compares with the level in the four big economies of Western Europe. GDP growth averaged a strong 5% in 1989-97. The widespread Asian economic difficulties in 1998 hit this trade-dependent economy quite hard, with GDP down 5%. The economy, with growth of 10% in 2000, recovered rapidly from the Asian financial crisis. The recent global downturn has badly hurt Hong Kong's exports and GDP growth is estimated to be 0% in 2001. Private sector analysts project 2002 GDP growth to be 1.8%.
GDP: purchasing power parity - $180 billion (2001 est.)
GDP - real growth rate: 0% (2001 est.)
GDP - per capita: purchasing power parity - $25,000 (2001 est.)
GDP - composition by sector: agriculture: 0.1% industry: 14.3% services: 85.6% (1999 est.)
Population below poverty line: NA%