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China, Hong Kong SAR-USA Bilateral Trade Analysis 2023

Complete trade statistics: $30.09B total volume •China, Hong Kong SAR deficit: $20.87B

China, Hong Kong SAR → USA

$4.61B

Exports (2023)

USA → China, Hong Kong SAR

$25.48B

Imports (2023)

Trade Balance

$20.87B

Deficit for China, Hong Kong SAR

Total Trade

$30.09B

Combined Volume

Trade Flow Visualization

Direct trade relationship between China, Hong Kong SAR and USA. Green line shows exports from China, Hong Kong SAR, red line shows imports.

Detailed Product Trade Analysis

Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the China, Hong Kong SAR-USA commercial relationship and competitive positioning in global markets.

China, Hong Kong SAR → USA Exports

$4.61B

2023 Total

Export Market Intelligence

Product Diversity:

Highly Diversified

Market Share:

38.9% top product

1Machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471

$1.80B

38.9% of exports

2Jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof

$630.56M

13.7% of exports

3Diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set

$232.65M

5.0% of exports

4Turbines: parts of turbo-jets and turbo-propellers

$172.52M

3.7% of exports

5Telephones for cellular networks or for other wireless networks

$145.79M

3.2% of exports

6Tricycles, scooters, pedal cars and similar wheeled toys: dolls' carriages: dolls: other toys: reduced-size (scale) models and similar recreational models, working or not: puzzles of all kinds

$85.31M

1.8% of exports

7Dental fittings: artificial teeth

$74.02M

1.6% of exports

8Stones: precious (other than diamonds) and semi-precious stones, (other than rubies, sapphires and emeralds), worked other than simply sawn or roughly shaped, not strung, mounted or set

$67.25M

1.5% of exports

9Stones: rubies, sapphires and emeralds, worked (other than simply sawn or roughly shaped), not strung, mounted or set

$50.25M

1.1% of exports

10Metals: silver, unwrought, (but not powder)

$36.93M

0.8% of exports

🎯 Strategic Export Focus

China, Hong Kong SAR's export portfolio to USA demonstrates strong diversification across multiple sectors, with machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471 representing a key competitive advantage in this bilateral market.

USA → China, Hong Kong SAR Imports

$25.48B

2023 Total

Import Dependency Profile

Supply Diversity:

Well Diversified

Critical Imports:

13.3% concentration

1Telephones for cellular networks or for other wireless networks

$3.40B

13.3% of imports

2Diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set

$2.64B

10.4% of imports

3Jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof

$2.02B

7.9% of imports

4Electronic integrated circuits: n.e.c. in heading no. 8542

$1.60B

6.3% of imports

5Paintings, drawings and pastels: executed entirely by hand, other than drawings of heading no. 4906

$1.51B

5.9% of imports

6Electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits

$638.77M

2.5% of imports

7Metals: gold, non-monetary, unwrought (but not powder)

$564.20M

2.2% of imports

8Turbines: parts of turbo-jets and turbo-propellers

$461.56M

1.8% of imports

9Communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus

$437.39M

1.7% of imports

10Electronic integrated circuits: amplifiers

$420.42M

1.6% of imports

📦 Import Strategy Analysis

China, Hong Kong SAR's import pattern from USA reveals significant dependencyin telephones for cellular networks or for other wireless networks, highlighting complementary economic structures and potential supply chain optimization opportunities.

Competitive Trade Position Analysis

🏆

Market Leadership

China, Hong Kong SAR demonstrates competitive strength in exportingmachinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471 to USA, leveraging comparative advantages.

Export Leader in 20+ Categories

🔄

Trade Complementarity

The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.

Specialized Exchange

📈

Growth Potential

The $30.09B trade volume indicates substantial economic integration with room for expansion in emerging sectors.

Major Partnership

Executive Summary: China, Hong Kong SAR-USA Trade Relationship

Key Trade Highlights 2023

Total Trade Volume: $30.09 billionrepresenting a significant bilateral economic relationship
Trade Balance: China, Hong Kong SAR maintains a deficit of $20.87 billion
Export Focus: China, Hong Kong SAR's primary exports include machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471, jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set
Import Dependencies: Key imports from USA include telephones for cellular networks or for other wireless networks, diamonds: non-industrial, (other than unworked or simply sawn, cleaved or bruted), but not mounted or set, jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof

Strategic Trade Indicators

Trade IntensityHigh

Export DiversificationDiversified

Trade Balance HealthImbalanced

📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.

Historical Trade Analysis & Economic Context

Trade Evolution Timeline

2019-2023: Recent Trends

Current trade volume of $30.09B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.

2015-2019: Growth Period

Sustained expansion in bilateral trade driven by complementary economic structures, with China, Hong Kong SAR leveraging its comparative advantages in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471.

2010-2015: Foundation Building

Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.

Pre-2010: Early Development

Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.

Key Economic Drivers

Comparative Advantage

China, Hong Kong SAR's specialization in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471complements USA's demand patterns, creating natural trade synergies.

Supply Chain Integration

Deep integration in global value chains has strengthened bilateral linkages, particularly in telephones for cellular networks or for other wireless networks.

Market Access & Trade Policy

Favorable trade agreements and market access conditions have facilitated the growth of this $30.09B bilateral relationship.

Trade Pattern Insights

Trade ComplementarityAsymmetric

Seasonal VariationsModerate

Product ConcentrationLow

Market DependencyHigh

🔮

Trade Relationship Outlook

The $30.09B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.

Economic Impact & Strategic Outlook

Economic Impact Assessment

💰

Trade Volume Impact

The $30.09 billion bilateral trade volume represents a significant economic factorfor both economies.

Economic Significance: High

🏭

Industrial Integration

Trade flows in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471 and telephones for cellular networks or for other wireless networks demonstrate deep industrial linkages and supply chain integration.

Supply Chain Integration: Diversified

⚖️

Trade Balance Effects

China, Hong Kong SAR's trade deficit of $20.87 billion impacts its overall economic position in this bilateral relationship.

Balance Impact: Import Dependency

Strategic Future Outlook

🚀Growth Opportunities

Emerging Sectors

Technology transfer and innovation cooperation in jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof present expansion opportunities.

Market Diversification

Beyond current focus on telephones for cellular networks or for other wireless networks, new product categories offer potential for trade expansion.

⚠️Risk Factors

Supply Chain Vulnerabilities

High trade imbalance may create supply chain risks

Market Competition

Global competition in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471 may affect future market positioning.

🎯Strategic Recommendations

Strengthen cooperation in high-value sectors beyond current trade patterns
Develop alternative supply chains to reduce dependency risks
Explore joint ventures in emerging technology sectors
Enhance trade facilitation and reduce transaction costs

Market Position & Competitive Summary

The bilateral trade relationship between China, Hong Kong SAR and USA represents a total trade volume of $30.09 billion in 2023. This partnership demonstrates an unfavorable trade balance for China, Hong Kong SAR, with imports exceeding exportsby $20.87 billion.

Export Strengths

China, Hong Kong SAR's exports to USA total $4.61 billion, with competitive advantages in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471, representing $1.80B or38.9% of bilateral exports.

Import Dependencies

Imports from USA amount to $25.48 billion, highlighting economic interdependence in telephones for cellular networks or for other wireless networks, with Telephones for cellular networks or for other wireless networks comprising13.3% of total imports.

The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates China, Hong Kong SAR's strategic sourcing from USA. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.

Download Bilateral Trade Data

Access detailed trade data between China, Hong Kong SAR and USA in multiple formats.

Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023