GDP distribution in Hong Kong 2022, by industry

In 2022, financing and insurance contributed around 22.4 percent to the gross domestic product (GDP) of Hong Kong, constituting the largest industry in the city. The total GDP of Hong Kong amounted to around 360 billion U.S. dollars that year.

Sectoral view on Hong Kong’s economy

Hong Kong is an important financial hub in Asia and a bridgehead for trade with mainland China. The city has a strong service sector that contributes more than 90 percent of its GDP. Trading and logistics, as well as financial and professional services are key industries in the city. Over the last decade, the importance of the financial sector has increased gradually, making Hong Kong to one of the leading financial centers in the world. At the same time, trading and logistics has slowly lost ground, although it is, together with professional services, important for employment in the city.

Economic perspectives

In recent times, Hong Kong has encountered growing competition from Chinese mainland cities. At the same time, its integration into the Guangdong-Hong Kong-Macao Greater Bay Area offers new opportunities for economic growth. While the trade sector is under pressure by competition from mainland ports, Hong Kong’s highly developed financial, insurance, and business services will most probably grow further in the future.