ceed 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. Hong Kong has been further
integrating its economy with China because China's growing openness
to the world economy has increased competitive pressure on Hong
Kong's service industries, and Hong Kong's re-export business from
China is a major driver of growth. Per capita GDP compares with the
level in the four big economies of Western Europe. GDP growth
averaged a strong 5% in 1989-1997, but Hong Kong suffered two
recessions in the past 6 years because of the Asian financial crisis
in 1998 and the global downturn of 2001-2002. The Severe Acute
Respiratory Syndrome (SARS) outbreak also battered Hong Kong's
economy, but a boom in tourism from the mainland because of China's
easing of travel restrictions, a return of consumer confidence, and
a solid rise in exports resulted in the resumption of strong growth
in late 2003.

GDP:
purchasing power parity - $213 billion (2003 est.)

GDP - real growth rate:
3.3% (2003 est.)

GDP - per capita:
purchasing power parity - $28,800 (2003 est.)

GDP - composition by sector:
agriculture: 0.1%
industry: 12.1%
services: 87.9% (2003 est.)

Investment (gross fixed):
22.3% of GDP (2003)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
-2.6% (2003 est.)

Labor force:
3.5 million (2003 est.)

Labor force - by occupation:
manufacturing 8.2%, construction 2.9%, wholesale and retail trade,
restaurants, and hotels 43.5%, financing, insurance, and real estate
19.5%, transport and communications 7.8%, community and social
services 17.8% (Note: above data exclude public sector) (2002 est.)

Unemployment rate:
7.9% (2003)

Budget:
revenues: $26.17 billion
expenditures: $32.64 billion, including capital expenditures of $5
billion (2003)

Agriculture - products:
fresh vegetables, poultry, fish, pork

Industries:
textiles, clothing, tourism, banking, shipping, electronics,
plastics, toys, watches, clocks

Industrial production growth rate:
-9.2% (2003 est.)

Electricity - production:
30.48 billion kWh (2001)

Electricity - consumption:
37.12 billion kWh (2001)

Electricity - exports:
1.581 billion kWh (2001)

Electricity - i