Wednesday, February 12, 2014

Rank and Economhy

The rank of Hong Kong from the poorest is 165 and from the richest is 21 with gdp per capita using atlas method in 2003 being 25,430 $. In other methods e.g., IMF,WBand CIA using nominal method in 2007,2007 and 2008
Hongkong Evening Skyline.jpg
Central and Victoria Harbour of Hong Kong
CurrencyHong Kong dollar (HKD)
Fiscal year1 April – 31 March
Trade organisationsAPEC and WTO
GDPPPP: $325.755 billion (2011 est.)
PPP per capita rank: 8th
Nominal per capita rank: 25th (2010)[1]
GDP growth7.2% (2011 Q1)[2]
GDP per capitaHK$246,733; 2010 (US$50,936 PPP; 2012)[3]
GDP by sectoragriculture: (0.1%) industry: (9%) services: (90.9%) (2008 est.)
Inflation (CPI)2.4% (2010)[4]
below poverty line
Gini coefficient53.3 (2007)
Labour force3.2343 million (end-2010)[5]
Labour force
by occupation
manufacturing (6.5%), construction (2.1%), wholesale and retail trade, restaurants, and hotels (43.3%), financing, insurance, and real estate (20.7%), transport and communications (7.8%), community and social services (19.5%)
Unemployment3.4% (1/2011 – 3/2011)[6]
Main industriestextilesclothingtourismbanking,shippingelectronics, plastics, toys, watches, clocks
Ease of doing business rank2nd[7]
Exports$390.4 billion (2010)
Main export partners China 54.1%
 United States 9.9%
 Japan 4.2% (2012 est.)[8]
Imports$433.5 billion (2010)
Main import partners China 46.9%
 Japan 8.4%
 Taiwan 7.5%
 South Korea 5.0%
 United States 4.7% (2012 est.
The Hong Kong Stock Exchange is the 6th largest in the world, with a market capitalisation of about US$2.97 trillion. In 2006, the value of initial public offeringsconducted in Hong Kong was second highest in the world after London.[36] In 2009, Hong Kong raised 22 percent of worldwide initial public offering (IPO) capital, becoming the largest centre of IPOs in the world.[37] The rival stock exchange of the future is expected to be the Shanghai Stock Exchange. As of 2006, Hong Kong Exchanges and Clearing (HKEX) has an average daily turnover of 33.4 billion dollars, which is 12 times that of Shanghai.[36]

Economic predictions[edit]

Cathay Pacific City, the headquarters ofCathay Pacific
Since the 1997 handover Hong Kong's economic future became far more exposed to the challenges ofeconomic globalization and direct competition from mainland China.Shanghai claimed in particular to have a geographical advantage, and a municipal government that dreamt of turning the city into China's main economic centre by as early as 2010. The target is to allow Shanghai to catch up to New York by 2040–2050.[38] Hong Kong, on the other hand, continues to have a more positive and realistic approach, and remains the principal international financial centre in China. Until then, Hong Kong is expected to have higher overall economic figures yearly. Hong Kong's main trading partners are China, the United StatesJapanTaiwanGermanySingapore, and South Korea..