Hong Kong imports of U.S. wines amounted to US$ 66.8 million in 2012. The U.S. is currently the 4th largest wine exporter to Hong Kong in terms of value and the third in terms of quantity.
According to the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service GAIN Report, in addition to being a vibrant local market, Hong Kong serves as a gateway to wine markets in the region because of its prime geographical location, superior logistical infrastructure and sound legal and financial systems. Trade statistics indicate that wine traders in Hong Kong re-exported 19% of wine imports from around the world and retained 81% for local consumption. Hong Kong’s prominence as a buying hub allows U.S. exporters to access Mainland China and other Asian markets while enjoying the protection by the sanctity of a Hong Kong contract.
The GAIN report noted that opportunities to increase awareness and sales of U.S. wines are bountiful at the retail and food service level. Hong Kong importers and consumers are growing more receptive to U.S. wines.
** Photo Credits - Hong Kong Trade Development Council