Hong Kong Third Quarter 2022 US Agricultural Trade Data Highlights
From January – September 2022, U.S. agricultural and food exports to Hong Kong declined 16 percent to $1 billion compared to the same period last year. During this same period, Hong Kong’s ranking as a U.S. agricultural and food export market slid from 15th in 2021 to 25th in 2022. However, the city held its rank as the 7th largest export market for U.S. consumer-ready food products. Compared to imports from other suppliers such as Australia, Brazil and France, imports from the United States performed relatively better. In addition to the traditional top sales categories, export growth in other less common product sectors signal opportunities for products such as ginseng, cough drops, processed vegetables, hops, proteins, essential oils, and others. The recent easing of pandemic-related measures in mainland China has sparked anticipation about the return of cross border travel and the city’s potential economic recovery.