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chief of mission: Consul General James B. CUNNINGHAM

consulate(s) general: 26 Garden Road, Hong Kong

mailing address: PSC 461, Box 1, FPO AP 96521-0006

telephone: [852] 2523-9011

FAX: [852] 2845-1598

Flag description:

red with a stylized, white, five-petal bauhinia flower in the center

Economy Hong Kong

Economy - overview:

Hong Kong has a free market economy highly dependent on international trade. In 2006, the total value of goods and services trade, including the sizable share of reexports, was equivalent to 400% of GDP. The territory has become increasingly integrated with mainland China over the past few years through trade, tourism, and financial links. The mainland has long been Hong Kong's largest trading partner, accounting for 46% of Hong Kong's total trade by value in 2006. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 13.6 million in 2006, when they outnumbered visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. Bolstered by several successful initial public offerings in early 2007, by September 2007 mainland companies accounted for one-third of the firms listed on the Hong Kong Stock Exchange, and more than half of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly and now accounts for 91% of the territory's GDP. Hong Kong's natural resources are limited, and food and raw materials must be imported. GDP growth averaged a strong 5% from 1989 to 2007, despite the economy suffering two recessions during the Asian financial crisis in 1997-98 and the global downturn in 2001-02. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.

GDP (purchasing power parity):

$292.8 billion (2007 est.)

GDP (official exchange rate):

$206.7 billion (2007 est.)

GDP - real growth rate:

6.3% (2007 est.)

GDP - per capita (PPP):

$42,000 (2007 est.)

GDP - composition by sector:

agriculture: 0.1%

industry: 8.1%

services: 91.7% (2007 est.)

Labor force:

3.62 million (2007 est.)

Labor force - by occupation:

manufacturing 6.5%, construction 2.1%, wholesale and retail trade, restaurants, and hotels 43.3%, financing, insurance, and real estate 20.7%, transport and communications 7.8%, community and social services 19.5%

note: above data exclude public sector (2007 est.)

Unemployment rate:

4.1% (2007 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%

highest 10%: NA%

Distribution of family income - Gini index:

53.3 (2007)

Inflation rate (consumer prices):

2% (2007 est.)

Investment (gross fixed):

20.3% of GDP (2007 est.)

Budget:

revenues: $36.9 billion

expenditures: $29.4 billion (FY07-08 est.)

Public debt:

7.1% of GDP (2007 est.)

Agriculture - products:

fresh vegetables; poultry, pork; fish

Industries:

textiles, clothing, tourism, banking, shipping, electronics, plastics, toys, watches, clocks

Industrial production growth rate:

-0.9% (2007 est.)

Electricity - production:

38.6 billion kWh (2006)

Electricity - production by source:

fossil fuel: 100%

hydro: 0%

nuclear: 0%

other: 0% (2001)

Electricity - consumption:

40.3 billion kWh (2006)

Electricity - exports:

4.5 billion kWh (2006)

Electricity - imports:

10.9 billion kWh (2006)

Oil - production:

0 bbl/day (2006 est.)

Oil - consumption:

292,000 bbl/day (2006 est.)

Oil - exports:

22,420 bbl/day (2006)

Oil - imports:

314,700 bbl/day (2006)

Oil - proved reserves:

0 bbl (1 January 2006 est.)

Natural gas - production:

0 cu m (2006 est.)

Natural gas - consumption:

2.944 billion cu m (2006 est.)

Natural gas - exports:

0 cu m (2006 est.)

Natural gas - imports:

2.944 billion cu m (2006)

Natural gas - proved reserves:

0 cu m (1 January 2006 est.)

Current account balance:

$25.46 billion (2007 est.)

Exports:

$345.9 billion f.o.b., including reexports (2007 est.)

Exports - commodities:

electrical machinery and appliances, textiles, apparel, footwear, watches and clocks, toys, plastics, precious stones, printed material

Exports - partners:

China 47%, US 15.1%, Japan 4.9% (2006)

Imports:

$365.6 billion (2007 est.)

Imports - commodities:

raw materials and semi-manufactures, consumer goods, capital goods, foodstuffs, fuel (most is re-exported)

Imports - partners:

China 45.9%, Japan 10.3%, Taiwan 7.5%, Singapore 6.3%, US 4.8%, South Korea 4.6% (2006)

Economic aid - recipient:

$6.95 million (2004)

Reserves of foreign exchange and gold:

$152.7 billion (31 December 2007 est.)

Debt - external:

$588 billion (2007 est.)

Stock of direct foreign investment - at home:

$780.4 billion (2007 est.)

Stock of direct foreign investment - abroad:

$716.2 billion (2007 est.)

Market value of publicly traded shares:

$2.97 trillion (2007 est.)

Currency (code):

Hong Kong dollar (HKD)

Currency code:

HKD

Exchange rates:

Hong Kong dollars per US dollar - 7.802 (2007), 7.7678 (2006), 7.7773 (2005), 7.788 (2004), 7.7868 (2003)

Fiscal year:

1 April - 31 March

Communications Hong Kong

Telephones - main lines in use:

3.87 million (2007)

Telephones - mobile cellular:

9.913 million (2007)

Telephone system:

general assessment: modern facilities provide excellent domestic and international services

domestic: microwave radio relay links and extensive fiber-optic network

international: country code - 852; multiple international submarine cables provide connections to Asia, US, Australia, the Middle East, and Western Europe; satellite earth stations - 3 Intelsat (1 Pacific Ocean and 2 Indian Ocean); coaxial cable to Guangzhou, China

Radio broadcast stations:

AM 5, FM 9, shortwave 0 (2004)

Radios:

4.45 million (1997)

Television broadcast stations:

55 (2 TV networks, each broadcasting on 2 channels) (2007)

Televisions:

1.84 million (1997)

Internet country code:

.hk

Internet hosts:

812,137 (2007)

Internet Service Providers (ISPs):

17 (2000)

Internet users:

3.77 million (2006)

Transportation Hong Kong

Airports:

2 (2007)

Airports - with paved runways:

total: 2

over 3,047 m: 1

1,524 to 2,437 m: 1 (2007)

Heliports:

5 (2007)

Roadways:

total: 2,009 km

paved: 2,009 km (2007)

Merchant marine:

total: 1,009 ships (1000 GRT or over) 34,556,075 GRT/57,423,309 DWT

by type: barge carrier 2, bulk carrier 499, cargo 135, chemical tanker 51, combination ore/oil 3, container 173, liquefied gas 24, passenger 6, passenger/cargo 5, petroleum tanker 91, roll on/roll off 4, specialized tanker 8, vehicle carrier 8

foreign-owned: 617 (Belgium 4, Canada 39, China 309, Denmark 12, France 1, Germany 10, Greece 30, Indonesia 7, Japan 78, South Korea 6, Lebanon 1, Norway 30, Pakistan 1, Philippines 10, Portugal 1, Singapore 11, Syria 1, Taiwan 11, UAE 1, UK 32, US 22)

registered in other countries: 275 (Bahamas 3, Belize 5, Bermuda 4, Cambodia 11, China 6, Cyprus 2, Honduras 1, India 1, Liberia 21, Malaysia 14, Malta 1, Marshall Islands 4, Mongolia 1, Norway 5, Panama 137, Philippines 2, Seychelles 1, Singapore 37, St Vincent and The Grenadines 7, Tuvalu 10, UK 2, unknown 7) (2007)

Ports and terminals:

Hong Kong

Military Hong Kong

Military branches:

no regular indigenous military forces; Hong Kong garrison of China's People's Liberation Army (PLA) includes elements of the PLA Ground Forces, PLA Navy, and PLA Air Force; these forces are under the direct leadership of the Central Military Commission in Beijing and under administrative control of the adjacent Guangzhou Military Region (2007)

Manpower available for military service:

males age 16-49: 1,772,820

females age 16-49: 1,941,448 (2008 est.)

Manpower fit for military service:

males age 16-49: 1,438,165

females age 16-49: 1,561,252 (2008 est.)

Manpower reaching militarily significant age annually:

males age 16-49: 42,173

females age 16-49: 38,753 (2008 est.)

Military expenditures - percent of GDP:

NA

Military - note:

defense is the responsibility of China

Transnational Issues Hong Kong

Disputes - international:

none

Illicit drugs:

despite strenuous law enforcement efforts, faces difficult challenges in controlling transit of heroin and methamphetamine to regional and world markets; modern banking system provides conduit for money laundering; rising indigenous use of synthetic drugs, especially among young people

This page was last updated on 15 July, 2008

The World Factbook

Hungary

Introduction Hungary

Background:

Hungary became a Christian kingdom in A.D. 1000 and for many centuries served as a bulwark against Ottoman Turkish expansion in Europe. The kingdom eventually became part of the polyglot Austro-Hungarian Empire, which collapsed during World War I. The country fell under Communist rule following World War II. In 1956, a revolt and an announced withdrawal from the Warsaw Pact were met with a massive military intervention by Moscow. Under the leadership of Janos KADAR in 1968, Hungary began liberalizing its economy, introducing so-called "Goulash Communism." Hungary held its first multiparty elections in 1990 and initiated a free market economy. It joined NATO in 1999 and the EU in 2004.

Geography Hungary

Location:

Central Europe, northwest of Romania

Geographic coordinates:

47 00 N, 20 00 E

Map references:

Europe

Area:

total: 93,030 sq km

land: 92,340 sq km

water: 690 sq km

Area - comparative:

slightly smaller than Indiana

Land boundaries:

total: 2,171 km

border countries: Austria 366 km, Croatia 329 km, Romania 443 km, Serbia 151 km, Slovakia 677 km, Slovenia 102 km, Ukraine 103 km

Coastline:

0 km (landlocked)

Maritime claims:

none (landlocked)

Climate:

temperate; cold, cloudy, humid winters; warm summers

Terrain:

mostly flat to rolling plains; hills and low mountains on the Slovakian border

Elevation extremes:

lowest point: Tisza River 78 m

highest point: Kekes 1,014 m

Natural resources:

bauxite, coal, natural gas, fertile soils, arable land

Land use:

arable land: 49.58%

permanent crops: 2.06%

other: 48.36% (2005)

Irrigated land:

2,300 sq km (2003)

Total renewable water resources:

120 cu km (2005)

Freshwater withdrawal (domestic / industrial / agricultural):

total: 21.03 cu km/yr (9%/59%/32%)

per capita: 2,082 cu m/yr (2001)

Environment - current issues:

the upgrading of Hungary's standards in waste management, energy efficiency, and air, soil, and water pollution to meet EU requirements will require large investments

Environment - international agreements:

party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling

signed, but not ratified: none of the selected agreements

Geography - note:

landlocked; strategic location astride main land routes between Western Europe and Balkan Peninsula as well as between Ukraine and Mediterranean basin; the north-south flowing Duna (Danube) and Tisza Rivers divide the country into three large regions

People Hungary

Population:

9,930,915 (July 2008 est.)

Age structure:

0-14 years: 15.2% (male 774,092/female 730,485)

15-64 years: 69.3% (male 3,393,630/female 3,488,011)

65 years and over: 15.6% (male 559,483/female 985,214) (2008 est.)

Median age:

total: 39.1 years

male: 36.8 years

female: 41.8 years (2008 est.)

Population growth rate:

-0.254% (2008 est.)

Birth rate:

9.59 births/1,000 population (2008 est.)

Death rate:

12.99 deaths/1,000 population (2008 est.)

Net migration rate:

0.86 migrant(s)/1,000 population (2008 est.)

Sex ratio:

at birth: 1.06 male(s)/female

under 15 years: 1.06 male(s)/female

15-64 years: 0.97 male(s)/female

65 years and over: 0.57 male(s)/female

total population: 0.91 male(s)/female (2008 est.)

Infant mortality rate:

total: 8.03 deaths/1,000 live births

male: 8.74 deaths/1,000 live births

female: 7.29 deaths/1,000 live births (2008 est.)

Life expectancy at birth:

total population: 73.18 years

male: 69 years

female: 77.62 years (2008 est.)

Total fertility rate:

1.34 children born/woman (2008 est.)

HIV/AIDS - adult prevalence rate:

0.1% (2001 est.)

HIV/AIDS - people living with HIV/AIDS:

2,800 (2001 est.)

HIV/AIDS - deaths:

fewer than 100 (2001 est.)

Major infectious diseases:

degree of risk: intermediate

food or waterborne diseases: bacterial diarrhea and hepatitis A

vectorborne diseases: tickborne encephalitis (2008)

Nationality:

noun: Hungarian(s)

adjective: Hungarian

Ethnic groups:

Hungarian 92.3%, Roma 1.9%, other or unknown 5.8% (2001 census)

Religions:

Roman Catholic 51.9%, Calvinist 15.9%, Lutheran 3%, Greek Catholic 2.6%, other Christian 1%, other or unspecified 11.1%, unaffiliated 14.5% (2001 census)

Languages:

Hungarian 93.6%, other or unspecified 6.4% (2001 census)

Literacy:

definition: age 15 and over can read and write

total population: 99.4%

male: 99.5%

female: 99.3% (2003 est.)

Government Hungary

Country name:

conventional long form: Republic of Hungary

conventional short form: Hungary

local long form: Magyar Koztarsasag

local short form: Magyarorszag

Government type:

parliamentary democracy

Capital:

name: Budapest

geographic coordinates: 47 30 N, 19 05 E

time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)