Introduction
India and Hong Kong have had a long history of economic and cultural ties. In the 19th century, many Chinese immigrants fled to India after being displaced by the Opium Wars between Britain and China. Today, these links are continuing to grow thanks to increased trade between both countries. In 2016, India was the world’s largest destination market for Hong Kong exports, while Hong Kong was the fourth-largest source country for Indian imports. Over one third of all goods shipped from Hong Kong enter through Mumbai Port or Kolkata Port each year; however, this number is expected to increase as both economies expand in coming years.”
Hong Kong is one of the most important ports in the world.
Hong Kong is one of the most important ports in the world. It has a large container port, which is the world’s largest and busiest. The airport also handles an enormous amount of cargo each year, so it’s no surprise that over half of all air cargo passes through Hong Kong at some point during its journey.
Hong Kong was once part of British territory until 1997 when it became part of China after over 150 years as colony under British rule. Today it’s considered one of Asia’s financial centers with many multinational companies having offices there including HSBC Bank, Standard Chartered Bank and Citibank among others
India’s trade with Hong Kong has been growing in recent years.
As the world’s most important port, Hong Kong is an ideal destination for Indian traders. It has been one of India’s major trading partners since the 1970s and continues to play an important role in bilateral trade between the two countries today. India’s trade with Hong Kong has been growing in recent years, reaching US$18 billion in 2017-a 42% increase from 2012.
Hong Kong’s trade with India is more balanced than China’s trade.
Hong Kong’s trade with India is more balanced than China’s trade. While China has a large trade surplus with India, Hong Kong has a small trade surplus.
India is a large market for Hong Kong’s exports; Hong Kong is also important to India as an importer of goods and services. In 2016-17, total exports from Hong Kong to India stood at $14 billion while imports were valued at $12 billion resulting in a positive balance of $2 billion (see chart 1).
In 2016, India was the world’s largest destination market for Hong Kong exports.
India is the world’s largest destination for Hong Kong exports. In 2016, about one-third of Hong Kong’s total exports went to India, including goods like electronic components and machinery.
India is also one of Hong Kong’s major markets for imports: in 2017 it imported around US$13 billion worth of goods from Hong Kong–more than any other country in the world except China or Japan (which imported US$71 billion and US$40 billion respectively). In fact, India was sixth on this list; only five countries imported more from us than they did from India!
In 2017, Hong Kong was the fourth-largest source country for Indian imports.
Hong Kong is a major trading partner for India. In 2017, Hong Kong was the fourth-largest source country for Indian imports (15% share), behind China (48%), Saudi Arabia (10%) and UAE (7%).
- The value of goods imported from Hong Kong stood at $11.8 billion in 2017-18 fiscal year. The major commodities imported into India from Hong Kong include machinery & electrical equipment, textiles & clothing accessories, jewellery & precious metals etc.
- Exports from India to Hong Kong were valued at $3 billion during April 2018 – February 2019 period; comprising mainly chemicals/pharmaceuticals/medicine products along with precious stones & metals products like gold jewellery etc., leather products like footwear leather chappals shoes sandals etc., furniture items such as wooden furniture cabinets tables chairs beds mattresses beds mattresses pillows cushions curtains curtains curtain rods rods poles rails rods poles rails curtains rods poles rails railings blinds shades shutters window dressing materials plastic films polyethylene polypropylene nylon polyesters polyamides nylon 6 6 nylon 66 polyurethane elastomers ethylene propylene glycol ethers oils lubricants greases waxes candles waxes candles paraffin wax paraffin waxes candles paraffin waxes wicks wicks wicks
Trade between India and Hong Kong will continue to grow as both economies expand.
Hong Kong is a major trading partner for India. In 2017, Hong Kong was India’s fourth-largest export destination and third-largest import source with total trade value of US$48.4 billion (1). India was also one of Hong Kong’s largest export destinations in the same year with US$22 billion worth of imports (2).
India and Hong Kong share many similarities: they are both members of the World Trade Organization (WTO) and have open economies; they are home to many multinational companies; they have strong manufacturing sectors as well as financial services industries; their people enjoy high standards of living despite having different cultures and religions; etcetera…
The two countries have longstanding economic ties that should deepen as they become more prosperous
The two countries have longstanding economic ties that should deepen as they become more prosperous. Hong Kong is one of the most important ports in the world, and India’s trade with Hong Kong has been growing in recent years. In 2016, India was the world’s largest destination market for Hong Kong exports; it accounted for US$28 billion worth of goods shipped from Hong Kong to other regions (including mainland China).
Hong Kong’s trade with India is more balanced than China’s trade: while exports made up 50% of all Chinese exports going through Hong Kong last year, they only accounted for 11% of total Indian imports into that country.
Conclusion
As both India and Hong Kong continue to grow their economies, the trade between them will only deepen. Both countries have longstanding economic ties that should deepen as they become more prosperous.
