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Commerce and Industry
The Services Sector
The services sector has continued to grow in the past decade. Its share of Hong Kong's Gross Domestic Product (GDP) rose from 90.5 per cent in 2004 to 92.9 per cent in 2013. In 2014, 88.5 per cent of total employment was in this sector. Hong Kong has become one of the most service-orientated economies in the world.
In 2014, Hong Kong's total services trade amounted to $1,558.1 billion, making it the world's 17th largest services trading entity in value, traded and exported $1,076.9 billion worth of services, contributing to 48 per cent of GDP. In 2014, Hong Kong ranked fifth in the region after China, Japan, India and Singapore in total value of services exported, and 15th in the world.
The main components of Hong Kong's exports of services in 2014 were travel services and transportation services, accounting for 36.2 and 29.9 per cent respectively of the total value. Hong Kong is a net exporter of services and had an overall surplus of $235.2 billion in 2014, with the surplus for travel services and transportation services $126.1 billion and $102.6 billion respectively.
Inward Direct Investment
According to the United Nations Conference on Trade and Development's 'World Investment Report 2014, Hong Kong was the second largest recipient of foreign direct investment (FDI) flow in Asia in 2013, after the Mainland of China. The 'External Direct Investment Statistics of Hong Kong 2013' released by the Census and Statistics Department indicates that Hong Kong's FDI inflow in 2013 amounted to $596.1 billion. At the end of 2013, the position of direct. investment liabilities' amounted to $11,346.7 billion. Chart 2 shows source countries or territories of the inward direct investment. The British Virgin Islands was the largest, accounting for 33.7 per cent of the total as at the end of 2013. Chart 3 shows the major economic activities of Hong Kong enterprise groups2. Those engaged in investment and holding, real estate, professional and business services took up the largest share, at 68.2 per cent of the total at the end of 2013.
As at June 2014, Hong Kong was host to 7,585 overseas, Mainland and Taiwan companies, with 3,784 of these companies having regional headquarters or regional offices here.
1 According to the latest international statistical standards, the FDI inflow and the position of direct investment liabilities presented in this paragraph are compiled based on the 'asset/liability principle, while detailed inward direct investment figures analysed by selected major country/territory and by major economic activity of Hong Kong enterprise groups presented in Charts 2 and 3 respectively are based on the 'directional principle: Owing to the adoption of different presentation principles, the aggregate position of direct investment liabilities is different from the overall totals of the detailed inward direct investment figures by selected major country/territory or by major economic activity of Hong Kong enterprise groups.
2
A Hong Kong enterprise group mainly consists of a Hong Kong parent company and its Hong Kong subsidiaries, associates and branches.
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