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Service Exports: The Next Engine of Growth For Hong Kong?

Author

Listed:
  • Frank Leung

    (Research Department, Hong Kong Monetary Authority)

  • Kevin Chow

    (Research Department, Hong Kong Monetary Authority)

  • Jessica Szeto

    (Research Department, Hong Kong Monetary Authority)

  • Dickson Tam

    (Research Department, Hong Kong Monetary Authority)

Abstract

Increasing economic integration with Mainland China has contributed to the rapid expansion of service exports in Hong Kong. Growing at the current pace of 10-20% per annum, service exports would be a key contributor to GDP in the coming years, thanks to vibrant expansion in offshore trade and strong growth in financial service exports and inbound tourism. Our projections show that, if the size of the Mainland economy doubles over the next decade, service exports could increase from the current 40% of GDP to 50% of GDP by 2016, probably the fastest growing component in GDP.

Suggested Citation

  • Frank Leung & Kevin Chow & Jessica Szeto & Dickson Tam, 2008. "Service Exports: The Next Engine of Growth For Hong Kong?," Working Papers 0804, Hong Kong Monetary Authority.
    • Handle: RePEc:hkg:wpaper:0804
    as

    Download full text from publisher

    File URL: http://www.info.gov.hk/hkma/eng/research/working/pdf/HKMAWP08_04_full.pdf
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    References listed on IDEAS

    as
    1. Lillian Cheung & Kevin Chow & Jian Chang & Unias Li, 2006. "Outward Portfolio Investment From Mainland China: How Much Do We Expect And How Large a Share Can Hong Kong Expect to Capture?," Working Papers 0613, Hong Kong Monetary Authority.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Frank Leung & Gaofeng Han & Kevin Chow, 2009. "Financial Services Sector as a Driver of Productivity Growth in Hong Kong," Working Papers 0914, Hong Kong Monetary Authority.
    2. Johan Fourie & Dieter von Fintel, 2009. "World Rankings of Comparative Advantage in Service Exports," Working Papers 03/2009, Stellenbosch University, Department of Economics.

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    More about this item

    Keywords

    Trade in services; Offshore trade; Hong Kong; Mainland China;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F2 - International Economics - - International Factor Movements and International Business

    NEP fields

    This paper has been announced in the following NEP Reports:

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