Trade between Russia and China's special administrative region of Hong Kong totaled $4.59 billion in 2018, leaping by 20.5 percent compared to the previous year and continuing to show a steady growth, Russian Consul General to Hong Kong Alexander Kozlov told Sputnik
BEIJING (Pakistan Point News / Sputnik - 29th March, 2019) Trade between Russia and China's special administrative region of Hong Kong totaled $4.59 billion in 2018, leaping by 20.5 percent compared to the previous year and continuing to show a steady growth, Russian Consul General to Hong Kong Alexander Kozlov told Sputnik.
"For several years already, Russia-Hong Kong trade has been demonstrating relatively high growth rates. In 2018, trade in goods reached $4.59 billion, increasing by 20.5 percent compared to the year 2017," the diplomat said.
Over the period, Russia imported $3.74 billion worth of goods from Hong Kong and exported another $852 million in Russian goods.
"Hong Kong is a major re-exportation hub, which is why more than 90 percent of Hong Kong's trade with Russia consists of re-exported goods from mainland China and a number of Southeast Asian countries," Kozlov said, adding that Hong Kong-made commodities accounted for just $4.5 million of overall trade.
According to the consult general, the bulk of Russian exports to Hong Kong consists of raw material for various industries, while Hong Kong mostly exports jewelry, telecommunication and medical equipment, among other goods.
