Hong Kong

Hong Kong ranked No. 22 in total trade value through May with a total of $15.11 billion. Exports totaled $9.76 billion and Imports totaled $5.35 billion, a surplus of $4.4 billion.

U.S. trade with Hong Kong rose to $11.4 billion through May

Hong Kong’s trade with the United States rose to $11.4 billion through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 5.74 percent below its total trade during the same time period last year. U.S. exports to Hong Kong decreased 23.44 percent while U.S. imports from Hong Kong rose 114.21 percent. The U.S. surplus with Hong Kong was $4.74 billion.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 John F. Kennedy International Airport; No. 2 Los Angeles International Airport; No. 3 Anchorage International Airport, Alaska; No. 4 Port of New Orleans; and No. 5 Cleveland’s Hopkins International Airport, Ohio. During the same period the previous year, the top five were No. 1 John F. Kennedy International Airport; No. 2 Los Angeles International Airport; No. 3 Anchorage International Airport, Alaska; No. 4 Port of New Orleans and No. 5 San Francisco International Airport, Calif.. In the current time period, the top five accounted for 69.04 percent of Hong Kong’s U.S. trade.

Among those top five:

  • Trade with No. 1 John F. Kennedy International Airport rose 50.69 percent to $5.99 billion.
    Exports fell 51.92 percent to $1.5 billion. Imports rose 425.23 percent to $4.49 billion.
  • Trade with No. 2 Los Angeles International Airport fell 30.4 percent to $1.57 billion.
    Exports fell 29.78 percent to $1.47 billion. Imports fell 38.37 percent to $100.72 million.
  • Trade with No. 3 Anchorage International Airport, Alaska fell 12.58 percent to $1.26 billion.
    Exports fell 11.91 percent to $1.21 billion. Imports fell 25.37 percent to $53.2 million.
  • Trade with No. 4 Port of New Orleans fell 13.18 percent to $985.07 million.
    Exports fell 15.06 percent to $888.36 million. Imports rose 8.93 percent to $96.72 million.
  • Trade with No. 5 Cleveland’s Hopkins International Airport, Ohio rose 27.23 percent to $617.73 million.
    Exports rose 33.47 percent to $578.81 million. Imports fell 24.96 percent to $38.92 million.

Hong Kong ranked No. 22 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 22.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Hong Kong by value through May were the categories of Cell phones, related equipment; Computer chips; Civilian aircraft, parts; Diamonds, not mounted; and Jewelry, parts, respectively. They accounted for 46.66 percent of total exports to Hong Kong.

The value of the top five categories of U.S. imports from Hong Kong –– Articles with precious metals; Gold; Returned exports, without change; Jewelry, parts; and Cell phones, related equipment –– accounted for 90.86 percent of all inbound shipments.

Looking more closely at U.S. exports to Hong Kong:

  • Cell phones, related equipment fell 19.62 percent compared to last year to $1.58 billion.
  • Computer chips rose 5.08 percent compared to last year to $1.38 billion.
  • Civilian aircraft, parts rose 47.25 percent compared to last year to $737.74 million.
  • Diamonds, not mounted fell 57.06 percent compared to last year to $579.18 million.
  • Jewelry, parts fell 67.05 percent compared to last year to $280.3 million.

Looking more closely at U.S. imports from Hong Kong:

  • Articles with precious metals rose 3625736 percent compared to last year to $2.87 billion.
  • Gold rose 4263392 percent compared to last year to $1.37 billion.
  • Returned exports, without change fell 40.48 percent compared to last year to $470.03 million.
  • Jewelry, parts fell 7.17 percent compared to last year to $98.23 million.
  • Cell phones, related equipment fell 32.23 percent compared to last year to $55.44 million.

In the latest annual figures available, Hong Kong recorded $35.51 billion in trade with the United States. Total U.S. exports to Hong Kong were $ 30.8 billion and imports from Hong Kong were $4.71 billion. The U.S. surplus with Hong Kong was $26.09 billion.