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India - Hong Kong Economic and
Commercial Relations
Overview
Hong
Kong is one of the top ten trading economies in the
world. Its annual trade is more than US$400 billion.
It is Asia-Pacific’s premier import/export hub for intra-Asian
trade, as well as trade between East and West and between
the Chinese mainland and the rest of the world. For
the period January - November 2003, India was the 13th
important trading partner of Hong Kong as compared to
being the 17th trading partner in 2002. India-
Hong Kong bilateral trade has crossed the US$ 4 billion
mark and India-Hong Kong trade reached US$ 4.5 billion
(+25.4%). Indian exports reached US$ 2.85 billion (+22.6%).
Of this, US$ 1.5 billion (+19.8%) worth of goods were
re-exported to other countries via Hong Kong. Hong Kong
exported US$ 1.65 billion (+30.5%) worth of goods to
India. Hence, India has a positive trade balance of
US$ 1.1 billion during January –November 2003.
Table: India-Hong
Kong bilateral trade figures for the years 1997 to Jan-Nov
2003
(All figures in Millions of US $)
|
Year
|
Indian
Imports
|
Indian
Exports
|
Total
trade
|
Trade
Balance for India
|
Growth
|
|
1997
|
685
|
2110
|
2795
|
+1425
|
|
|
1998
|
679
|
1876
|
2555
|
+1197
|
-
8.6%
|
|
1999
|
1099
|
2216
|
3315
|
+1117
|
+29.8%
|
|
2000
|
1294
|
2624
|
3918
|
+1330
|
+18.2%
|
|
2001
|
1202
|
2290
|
3419
|
+1088
|
-10.9%
|
|
2002
|
1441
|
2494
|
3935
|
+1053
|
+12.7%
|
|
Jan-Nov
2003
|
1657
|
2852
|
4509
|
+1195
|
+25.4%
|
[Source:
HKSAR Census and Statistical Department]
Table:
Overview of India - Hong Kong trade
(US
$ million)
|
|
2000
|
2001
|
2002
|
Jan-Nov
2003
|
|
|
Value
|
Value
|
Growth
|
Value
|
Growth
|
Value
|
Growth
|
|
India
to Hong Kong
|
|
Exports
to Hong Kong
|
2,624
|
2290
|
-12.7%
|
2494
|
+8.9%
|
2852
|
+22.6%
|
|
Hong
Kong to India
|
|
Domestic
Exports
|
172
|
59
|
-65.5%
|
53
|
-11.5%
|
46
|
-4.1%
|
|
Re-Exports
|
1,122
|
1142
|
+1.8%
|
1388
|
+21.6%
|
1611
|
+31.8%
|
|
Total
Exports to India
|
1,294
|
1202
|
-7.1%
|
1441
|
+19.9%
|
1657
|
+30.5%
|
|
Total
Bilateral Trade
|
3,918
|
3491
|
-10.9%
|
3935
|
+12.7%
|
4509
|
+25.4%
|
|
Trade
Balance for India
|
+1,330
|
+1088
|
|
+1053
|
|
+1195
|
|
[Source:
HKSAR Census and Statistical Department]
1.2
Indian Exports to Hong Kong
During
January – November 2003, India exported a total of US$
2.85 billion (+22.6%) worth of products to Hong Kong.
Indian export of Pearls, precious and semi-precious
stones has shown positive growth during January-November
2003 (+28.4%). India exported US$ 2.2 billion worth
of pearls, precious, semi-precious stones (+28.4%) followed
by leather [US$ 174 million (+19.4%)], textile yarn
[US$ 67 million (-25.9%)], petroleum oils (other than
crude) [US$ 39 million (-)], flat rolled products of
alloy steel [US$ 33 million (-26.6%)], jewellery [US$
25 million (-13.7%)].
Table:
Indian Exports to Hong Kong - Top 20 products
(US
$ million)
|
Commodity
|
Value
|
Share
|
Growth
|
|
Pearls,
precious & Semi-precious stones
|
2206
|
77.4
|
+28.4
|
|
Leather
|
174
|
6.1
|
+19.4
|
|
Textile
yarn
|
67
|
2.4
|
-25.9
|
|
Petroleum
Oils (other than Crude)
|
39
|
1.4
|
-
|
|
Flat-rolled
products of Alloy Steel
|
33
|
1.1
|
-26.6
|
|
Jewellery
|
25
|
0.9
|
-13.7
|
|
Textile
fabrics, woven, other than cotton/man-made fibres
|
17
|
0.6
|
+30.0
|
|
Other
Plastics in Primary form
|
17
|
0.6
|
-4.7
|
|
Synthetic
organic colour lakes/colouring matter/preparations
|
15
|
0.5
|
-11.3
|
|
Made-up
articles, wholly or chiefly of textile materials
|
13
|
0.5
|
+66.6
|
|
Fish,
dried, salted or in brine, smoked fish, flours,
meals & pellets of fish
|
12
|
0.4
|
-1.0
|
|
Cotton
fabrics, woven
|
11
|
0.4
|
-14.3
|
|
Medicinal
& pharmaceutical products, other than medicaments
|
11
|
0.4
|
-13.5
|
|
Polymers
of Styrene, in primary forms
|
11
|
0.4
|
-41.3
|
|
Plates,
sheets, film, foil and strip, of plastics
|
11
|
0.4
|
+19.6
|
|
Copper
|
11
|
0.4
|
+13.0
|
|
Electrical
apparatus for electrical circuits
|
8
|
0.3
|
+66.9
|
|
Other
articles of apparel, of textile fabrics
|
8
|
0.3
|
+22.1
|
|
Women’s
or girl’s wear of textile fabrics, not knitted
|
8
|
0.3
|
+30.7
|
|
Electrical
Power machinery and parts
|
7
|
0.2
|
-4.2
|
[Source:
HKSAR Census and Statistical Department]
1.3 Indian Imports
from Hong Kong
Hong
Kong exported US$ 1.65 billion (+30.5%) worth of goods
to India during January–November 2003. The important
items of exports are pearls, precious and semi-precious
stones [US$ 654 million (+16.2%)], telecommunication
equipment & parts [US$ 429 million (+169.4%)], semi-conductor,
electronic valves & tubes, etc. [US$ 69 million
(+1.9%)], parts and accessories of office machines/computers
[US$ 49 million (+17.7%)]. computers [US$ 35 million
(+9.8%)], and silver & platinum [US$28 million (-29.2%)]
Table:
Indian Imports from Hong Kong - Top 20 products
(US
$ million)
|
Commodity
|
Value
|
Share
|
Growth
|
|
Pearls,
precious & semi-precious stones
|
654
|
39.4
|
+16.2
|
|
Telecommunications
equipment & parts
|
429
|
25.9
|
+169.4
|
|
Semi-conductors,
electronic valves & tubes, etc.
|
69
|
4.1
|
+1.9
|
|
Parts
& Accessories of office machines/computers
|
49
|
3.0
|
+17.7
|
|
Computers
|
35
|
2.1
|
+9.8
|
|
Silver
& Platinum
|
28
|
1.7
|
-29.2
|
|
Miscellaneous
manufactured articles
|
27
|
1.6
|
+10.2
|
|
Cotton
fabrics, woven
|
24
|
1.5
|
+45.1
|
|
Watches
and clocks
|
24
|
1.4
|
-31.9
|
|
Electrical
apparatus for electrical circuits
|
21
|
1.3
|
+90.5
|
|
Medicinal
& Pharmaceutical products, other than medicaments
|
17
|
1.0
|
+332.0
|
|
Electrical
machinery & Apparatus
|
16
|
1.0
|
+18.7
|
|
Printed
matter
|
15
|
0.9
|
+20.4
|
|
Tulles,
lace, embroidery, ribbons, trimmings and other
small wares
|
15
|
0.9
|
+4.9
|
|
Textile
yarn
|
12
|
0.7
|
-21.4
|
|
Textile
and leather machinery & parts
|
12
|
0.7
|
+82.9
|
|
Electric
power machinery & parts
|
12
|
0.7
|
-11.8
|
|
Instruments
& appliances for medical, surgical, dental
or veterinary purposes
|
11
|
0.7
|
-33.0
|
|
Audio
and Video Record Players
|
10
|
0.6
|
+5.3
|
|
Textile
fabrics, woven, other than cotton/man-made fibres
|
10
|
0.6
|
-19.8
|
[Source:
HKSAR Census and Statistical Department]
Source
: Indian High Commission, Hong Kong
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