HongKong has a free market economy highly dependent on international trade andfinance. Its open economy left it exposed to the global economic slowdown, butits increasing integration with China, through trade, tourism and financiallinks, helped it recover more quickly than many observers anticipated. HongKong's GDP fell in 2009, as a result of the global financial crisis, but arecovery began in the third quarter of 2009, and the economy grew nearly 6.8per cent in 2010.
Detailedmacro-economic indicator of Japan is given in Table 1
In2010, the total export of Hong Kong stood at US$ 58,328 million, which declinedby -82.7 per cent from 2009, while the total import were to the tune of US$4,80,044 million almost 36.5 per cent higher than 2009. Hong Kong accounted for0.4 per cent share in the world's total export and in the last four years itgrew negatively with -5 per cent per annum. On the other hand, Hong Kong'simport from the world accounted for 3.2 per cent share and grew positively inthe last four years with five per cent per annum. The RMG export accounted for4.1 per cent in 2010, which was 6.6 per cent in 2009. RMG exports have declinedby a huge margin in 2010. RMG import in 2010, was to the tune of US$ 8,202million, which is 44 per cent lower than the previous year.
Originally Publishedin Apparel India, July-2011