HONG KONG - AUSTRALIA TRADE RELATIONS
AUSTRALIA AND HONG KONG ARE IMPORTANT TRADING PARTNERS
- In 2023, Australia was Hong Kong's 21st largest trading partner. Hong Kong was Australia's 15th largest trading partner in 2023.
- Total merchandise trade between Hong Kong and Australia amounted to HK$41.7 billion in 2023, decreased by 9.2% from 2022. The average annual growth rate from 2019 to 2023 was -4.5%.
- In 2023, Hong Kong's domestic export of goods to Australia amounted to HK$0.8 billion. Major domestic exports to Australia included miscellaneous edible products and preparations; jewellery, goldsmiths' and silversmiths' wares, and other articles of precious or semi-precious materials; and non-ferrous metals.
- Hong Kong's re-export of goods to Australia totalled HK$26.1 billion. Major re-exports were telecommunications and sound recording and reproducing apparatus and equipment; photographic apparatus, equipment and supplies and optical goods; watches and clocks; and office machines and automatic data processing machines.
- In 2023, Hong Kong imported HK$14.8 billion worth of goods from Australia. Major imports included vegetables and fruit; fish, crustaceans, molluscs and aquatic invertebrates, and preparations thereof; and beverages.
- Hong Kong and Australia signed a Free Trade Agreement (FTA) and an Investment Agreement in March 2019. The Agreements are comprehensive in scope and the commitments therein are of high quality, encompassing trade in goods, trade in services, investment, government procurement, intellectual property, competition, dispute settlement mechanism and other related areas. The two Agreements entered into force on 17 January 2020. Please click here for more information.
HONG KONG IS AN IMPORTANT ENTREPOT FOR MAINLAND-AUSTRALIA TRADE
- Hong Kong is an important entrepôt for merchandise trade between Australia and the Mainland of China. Re-export trade between the two economies through Hong Kong amounted to HK$28.9 billion in 2023.
HONG KONG IS AN IMPORTANT MARKET FOR AUSTRALIAN INTERESTS
- Hong Kong is a separate customs territory recognised by the World Trade Organization as a member.
- Hong Kong welcomes overseas investment and offers an environment in which there is a free flow of capital and return on investment without exchange controls.
- In a survey covering 9 039 companies in Hong Kong with parent companies located outside Hong Kong, as at June 2023, there were 27 regional headquarters, 47 regional offices and 86 local offices in Hong Kong with parent companies located in Australia.
- Australia was the 18th largest source of external investment in Hong Kong at end-2022. Australia's inward direct investment in Hong Kong amounted to HK$33.7 billion, accounting for 0.2% of the total.
| Summary of Hong Kong's Merchandise Trade with Australia (in HK$ million) | ||||
|---|---|---|---|---|
| 2022 | % Change 2022/2021 | 2023 | % Change 2023/2022 | |
| Domestic Exports | 864 | +11.1 | 784 | -9.3 |
| Re-exports | 31,623 | -10.6 | 26,072 | -17.6 |
| Total Exports | 32,488 | -10.1 | 26,856 | -17.3 |
| Imports | 13,428 | -18.3 | 14,847 | +10.6 |
| Total Trade | 45,915 | -12.7 | 41,703 | -9.2 |
While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same.
Trade and Industry Department
The Government of the Hong Kong
Special Administrative Region
Telephone : (852) 2398 5594
Website : www.tid.gov.hk
March 2024