What is the value of US trade with Hong Kong?
Updated annually
$21.5 billion in imports and $44 billion in exports in 2024. That means that the US exported $22.5 billion more to Hong Kong than we imported from it. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation.
$21.5B
Value of imports from Hong Kong to the US (2024)
$44B
Value of exports from the US to Hong Kong (2024)
Exports are goods and services the US sells to other countries. Imports are goods and services the US buys from other countries. Combining the value of imports and exports shows us how much trade happens between the US and other countries.
The Bureau of Economic Analysis (BEA) provides data for 71 of the US' trading partners (though not necessarily the top 71 trading partners). The partners they track accounted for 94.3% of total trade with the US in 2024.
BEA data ranks Hong Kong as the US’ 24th top trading partner: In 2024, the US traded $65.5 billion in goods and services with Hong Kong. Countries with similar trade values include Bermuda ($65.8B) and Israel ($55.7B).
In 2024, the US traded $65.5 billion in goods and services with Hong Kong.
Total trade value (imports + exports) with the US (2024), by select countries
Another way to look at international trade is through trade balance. A nation that imports more than it exports, has a trade deficit. One that exports more than it imports has a trade surplus. Neither is inherently good or bad; trade balance is just a metric that shows the relationship between imports and exports.
The US has had a trade surplus with Hong Kong every year from 1999 through 2024. The 2024 surplus was $22.54 billion, a decrease from 2023's surplus of $24.92 billion.
The trade surplus with Hong Kong increased to $22.5B in 2024.
Annual trade balance with Hong Kong, not adjusted for inflation
In 2024, 70% of imports from Hong Kong to the US were services. The largest category was transport (transactions associated with moving people and property from one location to another, like passenger flights and ocean cargo shipping), accounting for $4.97 billion. The top three imports were transport, business services (like R&D, consulting, and tech services), and financial services (services normally provided by banks and other financial institutions). These categories accounted for $11.1 billion of total imports.
The other 30% were goods, with other merchandise being the largest goods category. Other merchandise accounted for $2.68 billion.
Transport made up 23.2% of US imports from Hong Kong in 2024.
US imports from Hong Kong by category (2024)
In 2024, more US exports to Hong Kong were goods — 65.1%. The largest export was consumer goods (goods and services purchased by individuals for personal use, like clothing and cellphones), which accounted for a value of $12.5 billion. The top three exports were consumer goods, capital goods (tools used for the production process, like machinery and equipment), and industrial supplies and materials (items used up in the production process, like oil, chemicals, and plastic). These categories accounted for $25.5 billion of exports to Hong Kong.
The other 34.9% were services, with use of intellectual property being the largest service category. Use of intellectual property accounted for $3.92 billion.
Consumer goods made up 28.5% of US exports to Hong Kong in 2024.
US exports to Hong Kong by category (2024)
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
