Hong Kong has a free market economy highly dependent on international trade and finance. Its open economy left it exposed to the global economic slowdown, but its increasing integration with China, through trade, tourism and financial links, helped it recover more quickly than many observers anticipated. Hong Kong's GDP fell in 2009, as a result of the global financial crisis, but a recovery began in the third quarter of 2009, and the economy grew nearly 6.8 per cent in 2010.
Detailed macro-economic indicator of Japan is given in Table 1
In 2010, the total export of Hong Kong stood at US$ 58,328 million, which declined by -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 for 0.4 per cent share in the world's total export and in the last four years it grew negatively with -5 per cent per annum. On the other hand, Hong Kong's import from the world accounted for 3.2 per cent share and grew positively in the last four years with five per cent per annum. The RMG export accounted for 4.1 per cent in 2010, which was 6.6 per cent in 2009. RMG exports have declined by a huge margin in 2010. RMG import in 2010, was to the tune of US$ 8,202 million, which is 44 per cent lower than the previous year.
Originally Published in Apparel India, July-2011