Hong Kong is one of the busiest trading centers in the world. Its economy is mainly based on the service industry, including finance, logistics, tourism and retail. Here are some data about the Hong Kong economy:
GDP: Hong Kong's GDP reached US $ 287.8 billion in 2020, a decrease of 6.1 % compared to 2019. This is mainly due to the influence of the global epidemic caused by the decline in the tourism and service industry, as well as the uncertainty brought by the Sino -US trade war.
Foreign exchange reserve: The scale of foreign exchange reserves in Hong Kong reached US $ 482.7 billion at the end of January 2021, an increase of 200 million US dollars from the end of December 2020. The scale of foreign exchange reserves in Hong Kong is the fourth largest in the world.
Trade: Hong Kong is one of the busiest cargo trading centers in the world. The total trade volume reached US $ 1087.9 billion in 2019. In terms of service trade, Hong Kong's service trade revenue in 2018 was HK $ 487.9 billion.
Employment: According to data in February 2021, Hong Kong's employment rate was 97.3 %, a decrease of 0.2 percentage points from the employment rate in January 2020. In addition, the unemployment rate in Hong Kong was 6.8 % in February 2021, an increase of 3.7 % compared to 3.7 % in February 2020.
Inflation rate: Hong Kong's inflation rate was 0.5 % in February 2021, compared with 2.2 % in February 2020. Hong Kong's inflation rate is relatively low, mainly due to the stability and currency tightening policy of its monetary policy.
In general, although Hong Kong has faced many challenges in the past few years, such as the global epidemic and trade war, it is still a highly developed economy and has strong competitiveness in the service industry, trade and finance.