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.
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Publisher Info
Paper provided by Hong Kong Monetary Authority in its series Working Papers with number
0804.
Find related papers by JEL classification: F1 - International Economics - - Trade F2 - International Economics - - International Factor Movements and International Business
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