Hong Kong HK: BOP: Current Account: Exports: Service data was reported at 104.109 USD bn in 2017. This records an increase from the previous number of 98.533 USD bn for 2016. Hong Kong HK: BOP: Current Account: Exports: Service data is updated yearly, averaging 64.562 USD bn from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 106.922 USD bn in 2014 and a record low of 27.204 USD bn in 1998. Hong Kong HK: BOP: Current Account: Exports: Service data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Balance of Payments: Current Account. Services refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. Data are in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Gap-filled total; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards. Manufacturing services on physical inputs owned by others (goods for processing in BPM5) and maintenance and repair services n.i.e. are reclassified from goods to services.

Hong Kong HK: BOP: Current Account: Imports: Service data was reported at 77.045 USD bn in 2017. This records an increase from the previous number of 74.478 USD bn for 2016. Hong Kong HK: BOP: Current Account: Imports: Service data is updated yearly, averaging 66.212 USD bn from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 77.045 USD bn in 2017 and a record low of 41.643 USD bn in 1999. Hong Kong HK: BOP: Current Account: Imports: Service data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong – Table HK.World Bank: Balance of Payments: Current Account. Services refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. Data are in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Gap-filled total; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards. Manufacturing services on physical inputs owned by others (goods for processing in BPM5) and maintenance and repair services n.i.e. are reclassified from goods to services.

Hong Kong HK: BOP: Current Account: Trade in Services: % of GDP data was reported at 53.055 % in 2017. This records a decrease from the previous number of 53.918 % for 2016. Hong Kong HK: BOP: Current Account: Trade in Services: % of GDP data is updated yearly, averaging 57.378 % from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 66.680 % in 2012 and a record low of 41.459 % in 1998. Hong Kong HK: BOP: Current Account: Trade in Services: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong – Table HK.World Bank: Balance of Payments: Current Account. Trade in services is the sum of service exports and imports divided by the value of GDP, all in current U.S. dollars.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files, and World Bank and OECD GDP estimates.; Weighted Average; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

Hong Kong HK: BOP: Current Account: Imports: Service: Communications, Computer, etc: % of Service Imports data was reported at 14.802 % in 2017. This records a decrease from the previous number of 15.256 % for 2016. Hong Kong HK: BOP: Current Account: Imports: Service: Communications, Computer, etc: % of Service Imports data is updated yearly, averaging 50.236 % from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 54.151 % in 2006 and a record low of 14.802 % in 2017. Hong Kong HK: BOP: Current Account: Imports: Service: Communications, Computer, etc: % of Service Imports data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong – Table HK.World Bank: Balance of Payments: Current Account. Communications, computer, information, and other services cover international telecommunications; computer data; news-related service transactions between residents and nonresidents; construction services; royalties and license fees; miscellaneous business, professional, and technical services; personal, cultural, and recreational services; manufacturing services on physical inputs owned by others; and maintenance and repair services and government services not included elsewhere.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Weighted Average; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

Hong Kong HK: BOP: Current Account: Exports: Service: Travel: % of Service Exports data was reported at 31.988 % in 2017. This records a decrease from the previous number of 33.335 % for 2016. Hong Kong HK: BOP: Current Account: Exports: Service: Travel: % of Service Exports data is updated yearly, averaging 22.155 % from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 37.159 % in 2013 and a record low of 18.704 % in 2000. Hong Kong HK: BOP: Current Account: Exports: Service: Travel: % of Service Exports data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong – Table HK.World Bank: Balance of Payments: Current Account. Travel covers goods and services acquired from an economy by travelers for their own use during visits of less than one year in that economy for either business or personal purposes. Travel includes local transport (i.e., transport within the economy being visited and provided by a resident of that economy), but excludes international transport (which is included in passenger transport. Travel also excludes goods for resale, which are included in general merchandise.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Weighted Average; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

Hong Kong HK: BOP: Current Account: Imports: Service: Insurance and Financial Services: % of Service Imports data was reported at 8.395 % in 2017. This records an increase from the previous number of 8.240 % for 2016. Hong Kong HK: BOP: Current Account: Imports: Service: Insurance and Financial Services: % of Service Imports data is updated yearly, averaging 5.451 % from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 8.454 % in 2015 and a record low of 3.471 % in 2000. Hong Kong HK: BOP: Current Account: Imports: Service: Insurance and Financial Services: % of Service Imports data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong – Table HK.World Bank: Balance of Payments: Current Account. Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents.; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Weighted Average; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

Imports of goods and services of Hong Kong decreased by 1.67% from 682,880,893,266 US dollars in 2022 to 671,492,032,451 US dollars in 2023. Since the 21.70% jump in 2021, imports of goods and services slumped by 8.28% in 2023. Imports of goods and services comprise all transactions between residents of a country and the rest of the world involving a change of ownership from nonresidents to residents of general merchandise, non-monetary gold, and services. Data are in current U.S. dollars.

Imports of goods, services and primary income of Hong Kong climb by 0.87% from 890,010,191,379 US dollars in 2022 to 897,722,084,760 US dollars in 2023. Since the 6.48% slump in 2020, imports of goods, services and primary income rocketed by 15.01% in 2023. Imports of goods, services and income is the sum of goods (merchandise) imports, imports of (nonfactor) services and income (factor) payments. Data are in current U.S. dollars.

Hong Kong HK: BoP: Current Account: Services: Financial: Debit data was reported at 5.040 USD bn in 2017. This records an increase from the previous number of 4.714 USD bn for 2016. Hong Kong HK: BoP: Current Account: Services: Financial: Debit data is updated yearly, averaging 2.975 USD bn from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 5.040 USD bn in 2017 and a record low of 824.180 USD mn in 2000. Hong Kong HK: BoP: Current Account: Services: Financial: Debit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong – Table HK.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Hong Kong HK: BoP: Current Account: Services: Government Goods & Services, n.i.e.: Credit data was reported at 95.720 USD mn in 2016. This records an increase from the previous number of 94.301 USD mn for 2015. Hong Kong HK: BoP: Current Account: Services: Government Goods & Services, n.i.e.: Credit data is updated yearly, averaging 67.383 USD mn from Dec 1998 (Median) to 2016, with 19 observations. The data reached an all-time high of 95.720 USD mn in 2016 and a record low of 49.191 USD mn in 1998. Hong Kong HK: BoP: Current Account: Services: Government Goods & Services, n.i.e.: Credit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong SAR – Table HK.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

The Asia-Pacific neo-banking market is experiencing robust growth, driven by the increasing adoption of digital technologies, a burgeoning smartphone penetration rate, and a preference for convenient and accessible financial services. The region's diverse demographics and economic landscapes contribute to this expansion, with countries like China and India leading the charge due to their massive populations and rapidly developing digital economies. The market's strong Compound Annual Growth Rate (CAGR) of 8% from 2019 to 2024 suggests a continuous upward trajectory, indicating a significant market opportunity for both established and emerging neo-banks. This growth is further fueled by innovative service offerings like mobile banking, seamless payment transfers, and accessible loan products tailored to diverse customer needs, including business and personal accounts. While regulatory hurdles and cybersecurity concerns present some challenges, the overall market outlook remains positive. The dominance of mobile-first solutions is evident, with many users preferring the convenience of managing their finances through smartphone apps. Competition is fierce, with a range of players, from established fintech giants to smaller, niche neo-banks, vying for market share. The market segmentation reveals significant opportunities within various account types, service offerings, and geographic regions. Further growth is anticipated in underpenetrated markets within the Asia-Pacific region, as awareness and trust in digital banking increase. The ongoing evolution of fintech infrastructure and regulatory frameworks will play a critical role in shaping the market's future landscape. The key segments driving growth include mobile banking, which offers convenience and accessibility, and payment and transfer services, which benefit from the rising adoption of digital payment methods. Loan services offered by neo-banks also contribute significantly to market growth. The enterprise segment is experiencing strong growth as businesses increasingly adopt digital financial solutions for enhanced efficiency. While China and India are currently the largest markets, other countries in the Asia-Pacific region are showing significant potential for future growth, driven by rising internet and smartphone penetration. The competitive landscape is dynamic, with both established financial institutions and new entrants competing for market share through technological innovation, strategic partnerships, and aggressive marketing campaigns. The continued focus on user experience, security, and regulatory compliance will be crucial for long-term success in this competitive and rapidly evolving market. Recent developments include: In April 2022, WeLab Bank has become the first virtual bank in Hong Kong to be granted permission to provide digital wealth advising services. The Bank soft-launched its intelligent wealth solution GoWealth Digital Wealth Advisory (GoWealth) for selected customers after receiving Type 1 (Dealing in securities) and Type 4 (Advising on securities) licenses from the Hong Kong Securities and Futures Commission (HKSFC)., In December 2021, Kakao Bank announced the signing of an MOU with Kyobo Life Insurance, Kyobo Bookstore, and Kyobo Securities for data cooperation and partnerships with other financial platform firms. Financial product planning and development, as well as cooperative marketing, will arise from a business relationship with Kyobo Life Insurance and Kyobo Securities.. Notable trends are: Number of Customers for Neo Banking is Raising Significantly in the Region.

Hong Kong HK: BOP: Current Account: Imports: Service: Transport: % of Service Imports data was reported at 22.610 % in 2017. This records a decrease from the previous number of 22.727 % for 2016. Hong Kong HK: BOP: Current Account: Imports: Service: Transport: % of Service Imports data is updated yearly, averaging 21.307 % from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 24.868 % in 2014 and a record low of 12.648 % in 1999. Hong Kong HK: BOP: Current Account: Imports: Service: Transport: % of Service Imports data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong – Table HK.World Bank: Balance of Payments: Current Account. Transport covers all transport services (sea, air, land, internal waterway, pipeline, space and electricity transmission) performed by residents of one economy for those of another and involving the carriage of passengers, the movement of goods (freight), rental of carriers with crew, and related support and auxiliary services. Also included are postal and courier services. Excluded are freight insurance (included in insurance services); goods procured in ports by nonresident carriers (included in goods); maintenance and repairs on transport equipment (included in maintenance and repair services n.i.e.); and repairs of railway facilities, harbors, and airfield facilities (included in construction).; ; International Monetary Fund, Balance of Payments Statistics Yearbook and data files.; Weighted Average; Note: Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards.

Hong Kong HK: BoP: Current Account: Services: Other Business data was reported at 2.070 USD bn in 2015. This records an increase from the previous number of 2.056 USD bn for 2014. Hong Kong HK: BoP: Current Account: Services: Other Business data is updated yearly, averaging 2.850 USD bn from Dec 1998 (Median) to 2015, with 18 observations. The data reached an all-time high of 4.157 USD bn in 2000 and a record low of 1.173 USD bn in 2011. Hong Kong HK: BoP: Current Account: Services: Other Business data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong – Table HK.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Hong Kong HK: BoP: Current Account: Services data was reported at 27.064 USD bn in 2017. This records an increase from the previous number of 24.055 USD bn for 2016. Hong Kong HK: BoP: Current Account: Services data is updated yearly, averaging -3.484 USD bn from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 32.957 USD bn in 2014 and a record low of -15.610 USD bn in 1998. Hong Kong HK: BoP: Current Account: Services data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong SAR – Table HK.IMF.BOP: BPM6: Balance of Payments: Analytical Presentation: Annual.

Hong Kong HK: BoP: Current Account: Services: Debit data was reported at 77.045 USD bn in 2017. This records an increase from the previous number of 74.478 USD bn for 2016. Hong Kong HK: BoP: Current Account: Services: Debit data is updated yearly, averaging 66.212 USD bn from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 77.045 USD bn in 2017 and a record low of 41.643 USD bn in 1999. Hong Kong HK: BoP: Current Account: Services: Debit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong SAR – Table HK.IMF.BOP: BPM6: Balance of Payments: Analytical Presentation: Annual.

Hong Kong HK: BoP: Current Account: Services: Credit data was reported at 104.109 USD bn in 2017. This records an increase from the previous number of 98.533 USD bn for 2016. Hong Kong HK: BoP: Current Account: Services: Credit data is updated yearly, averaging 64.562 USD bn from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 106.922 USD bn in 2014 and a record low of 27.204 USD bn in 1998. Hong Kong HK: BoP: Current Account: Services: Credit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong SAR – Table HK.IMF.BOP: BPM6: Balance of Payments: Analytical Presentation: Annual.

Hong Kong HK: BoP: Current Account: Services: Transport data was reported at 12.918 USD bn in 2017. This records an increase from the previous number of 11.247 USD bn for 2016. Hong Kong HK: BoP: Current Account: Services: Transport data is updated yearly, averaging 10.868 USD bn from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 14.216 USD bn in 2011 and a record low of 5.163 USD bn in 1998. Hong Kong HK: BoP: Current Account: Services: Transport data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong – Table HK.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Hong Kong HK: BoP: Current Account: Services: Telecommunications, Computer & Information: Debit data was reported at 1.904 USD bn in 2015. This records an increase from the previous number of 1.902 USD bn for 2014. Hong Kong HK: BoP: Current Account: Services: Telecommunications, Computer & Information: Debit data is updated yearly, averaging 865.553 USD mn from Dec 1998 (Median) to 2015, with 18 observations. The data reached an all-time high of 1.904 USD bn in 2015 and a record low of 521.749 USD mn in 2001. Hong Kong HK: BoP: Current Account: Services: Telecommunications, Computer & Information: Debit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong – Table HK.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Hong Kong HK: BoP: Current Account: Services: Maintenance & Repair, n.i.e.: Debit data was reported at 120.231 USD mn in 2015. This records an increase from the previous number of 112.454 USD mn for 2014. Hong Kong HK: BoP: Current Account: Services: Maintenance & Repair, n.i.e.: Debit data is updated yearly, averaging 44.820 USD mn from Dec 1998 (Median) to 2015, with 18 observations. The data reached an all-time high of 120.231 USD mn in 2015 and a record low of 15.915 USD mn in 2000. Hong Kong HK: BoP: Current Account: Services: Maintenance & Repair, n.i.e.: Debit data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong – Table HK.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

Hong Kong HK: BoP: Current Account: Services: Telecommunications, Computer & Information data was reported at 937.433 USD mn in 2015. This records an increase from the previous number of 918.354 USD mn for 2014. Hong Kong HK: BoP: Current Account: Services: Telecommunications, Computer & Information data is updated yearly, averaging 176.333 USD mn from Dec 1998 (Median) to 2015, with 18 observations. The data reached an all-time high of 985.899 USD mn in 2013 and a record low of -160.941 USD mn in 2000. Hong Kong HK: BoP: Current Account: Services: Telecommunications, Computer & Information data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Hong Kong – Table HK.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.