Service Exports: The Next Engine of Growth For Hong Kong?
AbstractIncreasing 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.
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Bibliographic InfoPaper provided by Hong Kong Monetary Authority in its series Working Papers with number 0804.
Length: 40 pages
Date of creation: Apr 2008
Date of revision:
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Trade in services; Offshore trade; Hong Kong; Mainland China;
Find related papers by JEL classification:
- F1 - International Economics - - Trade
- F2 - International Economics - - International Factor Movements and International Business
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-05-31 (All new papers)
- NEP-CNA-2008-05-31 (China)
- NEP-INT-2008-05-31 (International Trade)
- NEP-TUR-2008-05-31 (Tourism Economics)
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- Johan Fourie & Dieter von Fintel, 2009. "World Rankings of Comparative Advantage in Service Exports," Working Papers 03/2009, Stellenbosch University, Department of Economics.
- 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.
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