economy highly dependent on
international trade. In 2006, the total value of goods and services
trade, including the sizable share of reexports, was equivalent to
400% of GDP. The territory has become increasingly integrated with
mainland China over the past few years through trade, tourism, and
financial links. The mainland has long been Hong Kong's largest
trading partner, accounting for 46% of Hong Kong's total trade by
value in 2006. As a result of China's easing of travel restrictions,
the number of mainland tourists to the territory has surged from 4.5
million in 2001 to 13.6 million in 2006, when they outnumbered
visitors from all other countries combined. Hong Kong has also
established itself as the premier stock market for Chinese firms
seeking to list abroad. Bolstered by several successful initial
public offerings in early 2007, by September 2007 mainland companies
accounted for one-third of the firms listed on the Hong Kong Stock
Exchange, and more than half of the Exchange's market
capitalization. During the past decade, as Hong Kong's manufacturing
industry moved to the mainland, its service industry has grown
rapidly and now accounts for 91% of the territory's GDP. Hong Kong's
natural resources are limited, and food and raw materials must be
imported. GDP growth averaged a strong 5% from 1989 to 2007, despite
the economy suffering two recessions during the Asian financial
crisis in 1997-98 and the global downturn in 2001-02. Hong Kong
continues to link its currency closely to the US dollar, maintaining
an arrangement established in 1983.

GDP (purchasing power parity):

$293.3 billion (2007 est.)

GDP (official exchange rate):

$206.7 billion (2007 est.)

GDP - real growth rate:

6.4% (2007 est.)

GDP - per capita (PPP):

$42,000 (2007 est.)

GDP - composition by sector:

agriculture: 0.1%
industry: 8.1%
services: 91.7% (2007 est.)

Labor force:

3.64 million (2007 est.)

Labor force - by occupation:

manufacturing 6.5%, construction 2.1%, wholesale and retail trade,
restaurants, and hotels 43.3%, financing, insurance, and real estate
20.7%, transport and communications 7.8%, community and social
services 19.5%
note: above data exclude public sector (2007 est.)

Unemployment rate:

4% (2007 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%
highest 10%: NA%

Distribution of family inco