The Economy ↑ 49
Transport, storage and
communications
8.6%
Gross Domestic Product by Major Service Sector
1989
Wholesale, retail and import/export trades, restaurants and hotels
23.7%
Transportation, storage, postal and courier services, information and communications
9.4%
2009
Import/export, wholesale and retail trades, accommodation and food services
26.7%
Finance, insurance,
real estate
and business
services
18.4%
Other
sectors 19.5%
Other
Financing and insurance,
Community, social and personal services 13.7%
sectors 35.7%
real estate,
professional and
business services 26.4%
Public administration, social and personal services 18.0%
The import/export, wholesale and retail trades, accommodation and food services sector, and the financing and insurance, real estate, professional and business services sector remained the two largest service sectors in terms of net output in 2009.
Note: Due to adoption of the Hong Kong Standard Industrial Classification Version 2.0, the series from 2000 onwards are not strictly comparable with those of the earlier years.
The profound structural change in the economy towards the services sector was also borne out by a shift in the sectoral composition of employment. Over the past two decades, the share of the services sector in total employment increased from 63 per cent in 1990 to 83 per cent in 2000 and 88 per cent in 2010. As for individual services, import/export trade and wholesale, retail, accommodation and food services accounted for 32 per cent of the total in 2010. This was followed by public administration, social and personal services with a share of 26 per cent; financing and insurance, real estate, professional and business services, 19 per cent; transportation, storage, postal and courier services, information and communications, 12 per cent (Chart 6).
The Manufacturing Sector
Hong Kong's manufacturing sector continues to be versatile and resilient in coping with the changing environment. Thanks to the increased manufacturing arrangements in the Mainland, not only has Hong Kong's productive capacity been effectively expanded, its overall productive efficiency and product quality have also seen significant upgrading along with advances in technology and a shift towards production with a more knowledge-based and higher value-added content. It is also worth noting that although the direct value-added contribution of the manufacturing sector to the economy is not large relative to the services sector, its well-established linkages with the Mainland economy have provided ample business opportunities that go hand in hand with the growth of Hong Kong's services sector.