Territory Summary: Hong Kong
Territory Name: Hong Kong
Government Type: presidential limited democracy; a special administrative region of the People's Republic of China
Background: Seized by the UK in 1841, Hong Kong was formally ceded by China the following year at the end of the First Opium War; the Kowloon Peninsula was added in 1860 at the end of the Second Opium War, and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. Pursuant to an agreement signed by China and the UK on 19 December 1984, Hong Kong became the Hong Kong Special Administrative Region (HKSAR) of the People's Republic of China on 1 July 1997. In this agreement, China promised that, under its "one country, two systems" formula, China's socialist economic and strict political system would not be imposed on Hong Kong and that Hong Kong would enjoy a "high degree of autonomy" in all matters except foreign and defense affairs for the subsequent 50 years.
Since the handover, Hong Kong has continued to enjoy success as an international financial center.
Continent: Asia
Population: 7,288,167 (2023 est.)
Ethnic Groups: Chinese 92%, Filipino 2.5%, Indonesian 2.1%, other 3.4% (2016 est.)
Languages: Cantonese (official) 88.9%, English (official) 4.3%, Mandarin (official) 1.9%, other Chinese dialects 3.1%, other 1.9% (2016 est.)
Religions: Buddhist or Taoist 27.9%, Protestant 6.7%, Roman Catholic 5.3%, Muslim 4.2%, Hindu 1.4%, Sikh 0.2%, other or none 54.3% (2016 est.)
Economic Overview: high-income tourism- and services-based economy; global financial hub; COVID-19 and political protests fueled recent recession; ongoing recovery but lower-skilled unemployment remains high; investing in job-reskilling programs
Currency: Hong Kong Dollar (HKD)
Reserves of Foreign Exchange & Gold: $424.025 billion (2022 est.) note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Real GDP (Purchasing Power Parity): $429.592 billion (2022 est.) note: data in 2017 dollars
Real GDP Growth Rate: -3.48% (2022 est.) note: annual GDP % growth based on constant local currency
Real GDP per Capita: $58,500 (2022 est.) note: data in 2017 dollars
Exports:
$697.586 billion (2022 est.) note: balance of payments - exports of goods and services in current dollars
Comparison Ranking: 14
Export Commodities: gold, integrated circuits, gas turbines, broadcasting equipment, silver, diamonds, telephones (2021)
Export Partners: China 23%, India 14%, Netherlands 6%, United Kingdom 5% (2019)
Imports:
$683.415 billion (2022 est.) note: balance of payments - imports of goods and services in current dollars
Comparison Ranking: 13
Import Commodities: integrated circuits, broadcasting equipment, office machinery, telephones, diamonds (2019)
Import Partners: China 46%, Taiwan 7%, Singapore 7%, South Korea 5%, United States 5%, Japan 5% (2019)
Natural Resources: outstanding deepwater harbor, feldspar
Agricultural Products: pork, poultry, spinach, vegetables, pork offals, game meat, fruit, lettuce, green onions, pig fat
Industries: trading and logistics, financial services, professional services, tourism, cultural and creative, clothing and textiles, shipping, electronics, toys, clocks and watches
Industrial Production Growth Rate:
3.19% (2022 est.) note: annual % change in industrial value added based on constant local currency
Comparison Ranking: 111
Labor Force: 3.761 million (2022 est.)
Unemployment Rate: 4.32% (2022 est.) note: % of labor force seeking employment
Natural Hazards: occasional typhoons
Geography:
Total: 1,108 sq km
Land: 1,073 sq km
Water: 35 sq km
(Country Summary, The World Factbook, CIA.gov)
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