Canada Hong Kong. Alexandre Gauthier. Publication No E 26 July 2012

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1 Canada Hong Kong Publication No E 26 July 212 Alexandre Gauthier International Affairs, Trade and Finance Division Parliamentary Information and Research Service

2 Canada Hong Kong (Trade and Investment Series) HTML and PDF versions of this publication are available on IntraParl (the parliamentary intranet) and on the Parliament of Canada website. Ce document est également publié en français. The Library of Parliament Trade and Investment series provides information on Canada s trade and investment relationship with selected countries. Particular attention is paid to bilateral merchandise trade, trade in services, and foreign investment. These publications are prepared by the Parliamentary Information and Research Service, which carries out research for and provides information and analysis to parliamentarians and Senate and House of Commons committees and parliamentary associations. Publication No E Ottawa, Canada, Library of Parliament (212)

3 CONTENTS MERCHANDISE TRADE... 1 PRODUCTS... 2 SERVICES AND INVESTMENT... 3 LIBRARY OF PARLIAMENT i PUBLICATION NO E

CANADA HONG KONG Merchandise Trade Figure 1 In 211, Canada Hong Kong merchandise trade totalled $3.3 billion, comprised of $3. billion in Canadian exports to, and $.

4 CANADA HONG KONG Merchandise Trade Figure 1 In 211, Canada Hong Kong merchandise trade totalled $3.3 billion, comprised of $3. billion in Canadian exports to, and $.3 billion in imports from, Hong Kong. The value of Canada s exports to Hong Kong increased by 57.8% between 21 and 211, while the value of Canada s imports from the country decreased by 14.2%. Hong Kong was Canada s 1 th largest export destination worldwide in 211. In that year, it was Canada s 67 th largest source of imports globally. Over the 26 to 211 period, the value of Canada s exports to Hong Kong grew at an average annual rate of 13.%, compared to.3% worldwide. The value of Canada s exports to the country as a share of the value of Canada s total exports increased from.4% in 26 to.7% in 211. The value of Canada s imports from Hong Kong decreased at an average annual rate of 9.1% over the 26 to 211 period, compared to an increase of 2.4% worldwide. In 211, as in 26, the value of Canada s imports from Hong Kong as a share of the value of Canada s total imports was.1%. At the provincial/territorial level, Ontario and Quebec together accounted for 74.7% of the value of Canada s exports to Hong Kong in 211, with exports valued at $1.8 billion and $43.6 million respectively. Over the 26 to 211 period, the fastest-growing provincial/territorial exporters to Hong Kong were Saskatchewan, Prince Edward Island and New Brunswick, with average annual growth rates of 59.9%, 39.3% and 3.9% respectively. 15, 1, 5,, -5, -1, -15, ,,3-9,1 Merchandise Trade Balance Exports Imports 2,4 Figure 2 Importance to Canada Average yearly growth (%): Hong Kong World Exports Imports Alberta 5.3% B.C. 1.2%,5,5 Figure 3 Share of total trade (%):,4,3,4,7,1,1 Exp. Imp Exports by Province/Territory 211 Sask..5% Quebec 13.6% Manitoba 5.6% Atlantic 3.6% Ontario 61.1% Territories.%,7,6,5,4,3,2,1 All figures were prepared using 211 data, based on Statistics Canada annual figures released in spring 212. The merchandise trade data are customs-based; the services trade and foreign direct investment data are balance of payments-based. LIBRARY OF PARLIAMENT 1 PUBLICATION NO E

5 CANADA HONG KONG Products Figure 4 In 211, manufactured goods accounted for 51.% of the value of Canada s exports to Hong Kong, with resource-based goods representing the remaining 49.%. This composition had changed significantly since 26, when manufactured goods and resource-based goods accounted for 8.3% and 19.7% respectively of the value of Canada s exports to the country. Canada s highest-valued exports to Hong Kong in 211 were gold, aircraft and nickel, which together accounted for 46.1% of the value of Canada s exports to the country. The value of Canadian gold and aircraft exports to Hong Kong increased from $23.2 million and $ respectively in 26 to $1. billion and $17.8 million respectively in 211. The value of Canadian nickel exports to the country decreased from $333.5 million in 26 to $149.6 million in 211. In 211, manufactured goods represented 92.6% of the value of Canada s imports from Hong Kong, with resource-based goods accounting for the remaining 7.4%. This composition was relatively unchanged from 26, when manufactured goods and resource-based goods represented 97.8% and 2.2% respectively of the value of Canada s imports from the country. Canada s highest-valued imports from Hong Kong in 211 were printed books, jewellery and silver, which together accounted for 17.6% of the value of Canada s imports from the country. The value of Canadian jewellery and silver imports from Hong Kong increased from $17. million and $ respectively in 26 to $18. million and $16.6 million respectively in 211. The value of Canadian printed book imports from the country decreased from $23.1 million in 26 to $21.3 million in 211. In 211, Canada had a trade surplus with Hong Kong in all product categories. Major Export Products 211 Prec. metals, jewellery, coins Electr., electron., etc. Aircraft and parts Meat and edible offal Nickel, articles thereof Furskins, related clothing Fish, seafood,,5 1, 1,5 Figure 5 Major Import Products 211 $ millions Electr., electron., etc. Prec. metals, jewellery, coins Books, newspapers, etc. Toys, games, sports equipment Machinery and equipment 26 Clocks and watches Articles of iron, steel 211 Specialized instruments Figure 6 Balance by Category 211 Agriculture and food Metals, mines, energy Clothing, textiles, etc. Machinery and equipment 26 Transportation equipment 211 Other manufactured goods Other,,5 1, 1,5 All figures were prepared using 211 data, based on Statistics Canada annual figures released in spring 212. The merchandise trade data are customs-based; the services trade and foreign direct investment data are balance of payments-based. LIBRARY OF PARLIAMENT 2 PUBLICATION NO E

6 CANADA HONG KONG Services and Investment Figure 7 In 29, the most recent year for which data are available, Canada Hong Kong services trade totalled $3.5 billion, comprised of $1. billion in Canadian exports to, and $2.5 billion in imports from, Hong Kong. 3 2 Services Trade Balance Exports Imports The value of Canada s services exports to Hong Kong decreased by 1.5% from 28 to 29, while the value of Canada s services imports from the country declined by 6.7%. In 29, Canada s trade deficit in services with Hong Kong was the result of trade in transportation and government services; Canada imported $2.1 billion in transportation and government services from, and exported $373. million in transportation and government services to, the country. In that year, Canada had a trade deficit with Hong Kong in commercial services and a trade surplus in travel services. The stock of Canadian direct investment in Hong Kong totalled $8.1 billion in 211, making it Canada s 15 th largest destination for foreign investment abroad. Canadian direct investment in the country increased by 15.5% between 21 and 211. In 25, the most recent year for which data are available, the stock of Hong Kong s direct investment in Canada totalled $6.2 billion, making it the eighth largest source of foreign investment in Canada at the time Transportation and government Figure 8 Services Trade by Type 29 Commercial Travel,,5 1, 1,5 2, 2,5 Figure 9 Foreign Direct Investment Canadian investment in Hong Kong Hong Kong's investment in Canada Exports Imports All figures were prepared using 211 data, based on Statistics Canada annual figures released in spring 212. The merchandise trade data are customs-based; the services trade and foreign direct investment data are balance of payments-based. LIBRARY OF PARLIAMENT 3 PUBLICATION NO E

Canada Hong Kong. Michaël Lambert-Racine. Publication No E 18 June 2014

Canada Hong Kong. Michaël Lambert-Racine. Publication No E 18 June 2014 Canada Hong Kong Publication No. 24-53-E 8 June 24 Michaël Lambert-Racine Economics, Resources and International Affairs Division Parliamentary Information and Research Service The Library of Parliament