Hong Kong: First Quarter 2022 US Agricultural Trade Data Highlights

In the first quarter of 2022, U.S. agricultural exports fell to the lowest level in four years. While expanding U.S. direct exports to China, and lingering shipping issues continue to drive the overall decline in U.S. agricultural exports to Hong Kong, government restrictions in response to the city’s fifth wave of the pandemic exacerbated the drop in U.S. agricultural sales. Nevertheless, peaking U.S. exports of protein supplements and hops stood out during this period. As the government began to ease pandemic restrictions in mid-April, business activity is picking up and the economy is expected to perform better in the second quarter.