Hong Kong Exporter Guide 2024
The Hong Kong economy has been recovering since the reopening of its borders to the world in late 2022, and to mainland China in early 2023. In the third quarter, Hong Kong’s economy grew 4.1 percent year-on-year. The Hong Kong government projects the city’s economy will grow 3.2 percent in 2023. The return of 26.8 million international visitors has greatly supported the revival of the economy but this figure is still shy of the 50-60 million tourists the city used to host annually prior to the pandemic. Tempered domestic consumption combined with other lagging key economic sectors such as import-export trade continue to impact Hong Kong’s recovery. During the first ten months of 2023, Hong Kong’s global imports of consumer-ready food products decreased 2.3 percent to 17 billion compared to the same period in 2022. Nevertheless, the United States remains the fourth largest supplier of food and beverage products to Hong Kong.