Top Hong Kong trading partners and exports

3. United States of America (USA)

Hong Kong acts as a port for trade between the US and Mainland China. In Hong Kong acts as a port for trade between the US and Mainland China. In 2021, an estimated US$28.1 billion worth of exports from China to the US and US$13.7 billion worth of imports from the US to China were routed to Hong Kong, according to the TID. Major exports include electrical machinery, apparatus and appliances, electrical parts, telecommunications equipment and office machines and automatic data processing machines.

4. Singapore

Bilateral relations between Hong Kong and Singapore have advanced since they were established in the 1900s. Several agreements and regulations have been established to improve trade, alleviate barriers at customs offices, and simplify shipping procedures. In 2019, Singapore formalised trade relations with Hong Kong by signing the ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA).

Hong Kong is one of Singapore’s major trading partners, with 2022 data by government statistics recording S$83.8 billion worth of export to the region. Electrical equipment and machinery are among the top exports.

5. Korea

Korea is Hong Kong’s 5th largest trading partner. The largest trading bloc in place – the Regional Comprehensive Economic Partnership (RCEP) – facilitates bilateral trade between the two countries. In 2022, Hong Kong’s exports to Korea totalled HK$2.1 million, according to  TID. Top exports include metalliferous ores and metal scrap; jewellery, goldsmiths' and silversmiths' wares, and other articles of precious or semi-precious materials; and miscellaneous edible products and preparations.

6. Japan

Japan and Hong Kong enjoy a dynamic trade relationship, with Japan being Hong Kong’s 6th largest trading partner. According to TID, in 2022, Hong Kong’s exports to Japan amounted to HK$700 million. Some key exports include jewellery, goldsmiths' and silversmiths' wares, precious or semi-precious materials and metal ores

7. United Kingdom

The UK is among the top business allies of Hong Kong outside the ASEAN area. The success in trade relations is due in part to the Comprehensive avoidance of Double Taxation Agreement (CDTA) consensus implemented in 2010 that facilitates the open flow of trade. According to TID, goods exported from Hong Kong to the UK account for 6.6% of Hong Kong’s total exports in 2021. Top exports include silver and platinum, jewellery, precious metal ores and concentrates.

How to grow your export business in Hong Kong

The above seven countries are Hong Kong’s top export partners. The majority of exports and imports in Hong Kong’s trade industry are handled by entrepreneurs who have learned what it takes to succeed in international trade. One of the important elements of growing your export business is marketing. These entrepreneurs create a compelling go-to-market strategy, which outlines the target market, a marketing plan, and a sales conversion strategy.

You first need to deeply understand your market. Research the economy, its culture, people, and financial regulations in your target market. Building a knowledge base of your market will facilitate a smooth entry into the market.

Whereas market penetration strategies are essential, what determines your success is how you handle the most crucial element of export trade — shipping. DHL Express is the trusted international logistics provider offering timely delivery services for many local businesses. Whether you’re an overseas or local company trying to expand your business, you will be able to reach the global consumer market with our fast overseas shipping options. Open a DHL Express account with us today and start importing or exporting from Hong Kong.