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Trade between Hong Kong and India

In 2024, Hong Kong exported $3.4 billion to India and imported $8.2 billion. Hong Kong ran a deficit of $4.8 billion with India, compared with a surplus of $6.2 billion in 2019. India was Hong Kong’s 14th largest trading partner (1% of its trade), and Hong Kong was India’s 26th (1%).

Summary

Hong Kong → India
$3.4billion
India → Hong Kong
$8.2billion
Hong Kong’s balance
-$4.8billion

Balance

Hong Kong’s trade balance with India

Trade between Hong Kong and India grew 4.3-fold since 1995

USD billions (current). Hong Kong’s exports and imports; bars: its balance (green surplus, red deficit).

  • Exports 3.4
  • Imports 8.2
  • Balance -4.8

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$603 million$2.1 billion-$1.5 billion
1996$410 million$2.2 billion-$1.8 billion
1997$465 million$2.3 billion-$1.8 billion
1998$572 million$2 billion-$1.5 billion
1999$998 million$2.4 billion-$1.4 billion
2000$1 billion$2.8 billion-$1.8 billion
2001$865 million$2.5 billion-$1.6 billion
2002$1 billion$2.7 billion-$1.6 billion
2003$1.4 billion$3.4 billion-$2 billion
2004$1.8 billion$3.9 billion-$2.2 billion
2005$2.1 billion$4.8 billion-$2.6 billion
2006$2.7 billion$5 billion-$2.3 billion
2007$4 billion$6.3 billion-$2.4 billion
2008$4.9 billion$7.5 billion-$2.6 billion
2009$5.4 billion$7.2 billion-$1.8 billion
2010$7.7 billion$9.5 billion-$1.8 billion
2011$11.3 billion$11.8 billion-$486 million
2012$7.1 billion$10.9 billion-$3.9 billion
2013$6.5 billion$11.8 billion-$5.3 billion
2014$7.8 billion$12.7 billion-$4.9 billion
2015$7.2 billion$11.4 billion-$4.3 billion
2016$8.6 billion$11.8 billion-$3.1 billion
2017$11 billion$13 billion-$2 billion
2018$16.1 billion$12.1 billion$4 billion
2019$17 billion$10.8 billion$6.2 billion
2020$14.2 billion$7.9 billion$6.3 billion
2021$17 billion$10.8 billion$6.2 billion
2022$14.3 billion$10.4 billion$3.9 billion
2023$3.8 billion$9.7 billion-$5.9 billion
2024$3.4 billion$8.2 billion-$4.8 billion

What they sell each other

What Hong Kong sells to India

The top 10 headings in 2024, with their share of the total.

  1. Diamonds$938 million · 27.5%
    1 tonne · Hong Kong’s destinations
  2. Gold$510 million · 15%
    6 tonnes · Hong Kong’s destinations
  3. Synthetic gemstones$406 million · 11.9%
    10 tonnes
  4. Microchips$178 million · 5.2%
    144 tonnes · Hong Kong’s destinations
  5. Silver$133 million · 3.9%
    166 tonnes · India’s sources
  6. Phones and telecom equipment$99 million · 2.9%
    25 tonnes
  7. Cameras and broadcast equipment$97 million · 2.9%
    18 thousand tonnes
  8. Computer and office machine parts$75 million · 2.2%
    256 tonnes
  9. Printed circuit boards$64 million · 1.9%
    8 thousand tonnes
  10. Resistors$50 million · 1.5%
    1 thousand tonnes

What India sells to Hong Kong

The top 10 headings in 2024, with their share of the total.

  1. Diamonds$3.3 billion · 40.9%
    1 tonne · India’s destinations
  2. Cameras and broadcast equipment$2.1 billion · 25.3%
    5 thousand tonnes
  3. Jewelry$1 billion · 12.8%
    9 tonnes · India’s destinations
  4. Synthetic gemstones$216 million · 2.6%
    2 tonnes
  5. Refined petroleum$183 million · 2.2%
    307 thousand tonnes · India’s destinations
  6. Gemstones$149 million · 1.8%
    361 tonnes
  7. Gold$75 million · 0.91%
    1 tonne · Hong Kong’s sources
  8. Microchips$73 million · 0.9%
    41 tonnes · Hong Kong’s sources
  9. Silver$68 million · 0.83%
    58 tonnes · Hong Kong’s sources
  10. Turbojets and gas turbines$58 million · 0.71%
    35 tonnes · India’s destinations

How it travels

Hong Kong and India traded $11.6 billion in 2024 (both directions together). They trade mostly by air: 89% of the value travels by plane.

Split by transport mode

  1. Sea$1.3 billion · 11.3%
  2. Air$10.3 billion · 88.7%

Mode estimated from value per kilo and geography; both directions together.

How much each matters to the other

India was Hong Kong’s 14th largest trading partner (1% of its trade), and Hong Kong was India’s 26th (1%).

India in Hong Kong’s trade
1.4%
India’s rank among Hong Kong’s partners
14th
Hong Kong in India’s trade
1%
Hong Kong’s rank among India’s partners
26th

Compare with

Other partners of Hong Kong

Other partners of India

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.