rts, 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.
Real GDP growth averaged a remarkable 8% in 1987-88 and a still
strong 5% in 1989-97. The widespread Asian economic difficulties in
1998 hit this trade-dependent economy quite hard, with GDP down 5%.

GDP: purchasing power parity--$168.1 billion (1998 est.)

GDP--real growth rate: -5% (1998 est.)

GDP--per capita: purchasing power parity?$25,100 (1998 est.)

GDP--composition by sector:
agriculture: 0.1%
industry: 15.9%
services: 84% (1997 est.)

Population below poverty line: NA%

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

Inflation rate (consumer prices): 2.9% (1998 est.)

Labor force: 3.216 million (1998 est.)

Labor force--by occupation: wholesale and retail trade,
restaurants, and hotels 31.9%, social services 9.9%, manufacturing
9.2%, financing, insurance, and real estate 13.1%, transport and
communications 5.7%, construction 2.6%, other 27.6% (October 1998)

Unemployment rate: 5.5% (1998 est.)

Budget:
revenues: $30.1 billion
expenditures: $26 billion, including capital expenditures of $289
million (FY97/98)

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

Industrial production growth rate: -3.7% (1998)

Electricity--production: 27 billion kWh (1996)

Electricity--production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1996)

Electricity--consumption: 28.598 billion kWh (1997)

Electricity--exports: 1.483 billion kWh (1996)

Electricity--imports: 5.875 billion kWh (1996)

Agriculture--products: fresh vegetables; poultry

Exports: $188.08 billion (including reexports; f.o.b., 1997)

Exports--commodities: clothing, textiles, yarn and fabric,
footwear, electrical appliances, watches and clocks, toys

Exports--partners: China 35%, US 22%, Japan 6%, Germany 4%, UK 4%
(1997)

Imports: $208.63 billion (c.i.f., 1997)

Imports--commodities: foodstuffs, transport equipment, raw
materials, semimanufactures, petroleum; a large share is reexported

Imports--partners: China 38%, Japan 14%, Taiwan 8%, US 8%,
Singapore 5% (1997)

Debt--external: none (1996)

Economic aid--recipient: none

Currency: 1 Hong Kong dollar (HK$) = 100 cents

Exchange rates: Hon