Apart from performing international trade in merchandise goods, Hong Kong also trades in the services it offers.
Trade in services includes both export as well as import of services.
Trade in merchandise goods is sometimes referred to as visible trade and trade in services as invisible trade.
Export of services is the sale of services produced by Hong Kong to the rest of the world, whereas import of services is the purchase of these services by Hong Kong from the rest of the world.
In Hong Kong, services are grouped into six components: Transportation; travel; insurance; trade-related; and other business services.
These classifications were developed with reference to recommendations from the International Monetary Fund. This helps with international comparisons of statistics on export and import services.
