Hong Kong (HKG) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Hong Kong-Russia Trade: In 2022, Hong Kong exported $2.38B to Russia. The main products that Hong Kong exported to Russia were Broadcasting Equipment ($766M), Computers ($456M), and Office Machine Parts ($228M). Over the past 5 years the exports of Hong Kong to Russia have increased at an annualized rate of 43.9%, from $386M in 2017 to $2.38B in 2022.

In 2022, Hong Kong did not export any services to Russia.

Russia-Hong Kong Trade: In 2022, Russia exported $1.94B to Hong Kong. The main products that Russia exported to Hong Kong were Platinum ($1.01B), Gold ($579M), and Coal Briquettes ($121M). Over the past 5 years the exports of Russia to Hong Kong have increased at an annualized rate of 14.1%, from $769M in 2017 to $1.94B in 2022.

In 2020, Russia exported services to Hong Kong worth $756M, with Transportation ($206M), Computer and information services ($198M), and Communications services ($191M) being the largest in terms of value.

Comparison: In 2022, Hong Kong ranked 21 in the Economic Complexity Index (ECI 1.18), and 39 in total exports ($113B). That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Hong Kong exported $2.38B to Russia. The main products exported from Hong Kong to Russia were Broadcasting Equipment ($766M), Computers ($456M), and Office Machine Parts ($228M). During the last 5 years the exports of Hong Kong to Russia have increased at an annualized rate of 43.9%, from $386M in 2017 to $2.38B in 2022.

In 2017, Russia exported $1.94B to Hong Kong. The main products exported from Russia to Hong Kong were Platinum ($1.01B), Gold ($579M), and Coal Briquettes ($121M). During the last 5 years the exports of Russia to Hong Kong have increased at an annualized rate of 14.1%, from $769M in 2022 to $1.94B in 2017.

Exports from Hong Kong () to Russia () (2022)

Exports from Russia () to Hong Kong () (2022)

Latest Data

Trade between Hong Kong () and Russia ()

Hong Kong Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hong Kong
Top DestinationChina$23.4B

Russia
Top DestinationChina$101B

This map shows whether countries import more from Hong Kong or Russia. Each country is colored based on the difference in imports they receive from Hong Kong and Russia or the difference in the growth in imports.

In 2022, countries that imported more from Hong Kong than Russia included Macau ($2.73B), Philippines ($3.28B), and Israel ($3.07B).

In 2022, countries that imported more from Russia than Hong Kong included China ($101B), Germany ($27.7B), and India ($40.4B).

Difference in imports from Russia () and Hong Kong () (2022)

Comparative Advantage Hong Kong - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Hong Kong and Russia by product, considering products traded by both, Hong Kong and Russia.

During 2022, Hong Kong had a large net trade with Russia in the exports of Machines ($2.07B), Instruments ($166M), and Miscellaneous ($35.4M).

During 2017, Russia had a large net trade with Hong Kong in the exports of Precious Metals ($1.67B), Mineral Products ($150M), and Machines ($59M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hong Kong Russia+$75.4MTelephones

Top Product Potential Russia Hong Kong+$134MGold

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Rus Year

In 2020, Russia exported services to Hong Kong worth $756M, with Transportation ($206M), Computer and information services ($198M), and Communications services ($191M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Hong Kong () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Hong Kong and Russia. This means that a dot/product with the flag of Hong Kong indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Hong Kong.

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Historical Data

Bilateral Trade by Products

Exports from Hong Kong () to Russia () (2022)

Exports from Russia () to Hong Kong () (2022)

Latest Data

Trade between Hong Kong () and Russia ()

Hong Kong Exports

Russia Exports

Market Competitiveness

Difference in imports from Russia () and Hong Kong () (2022)

Comparative Advantage Hong Kong - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Russia () to Hong Kong () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Hong Kong () and Russia () (2022)

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