Hong Kong: Retail Foods Annual
Link to report:
Hong Kong’s food retail sales remained stable at $12.2 billion in 2023, however retailers face growing challenges as more budget-minded residents travel to mainland China to save on food purchases, leading to a 4.7 percent decline in food retail sales in the first seven months of 2024. In 2023, Hong Kong’s global imports of food and agricultural related products were flat at $24 billion. The same year, U.S. exports of agricultural and related products to Hong Kong reversed a four-year decline, rebounding to $1.69 billion and retained its position as the city’s third largest supplier. From January to July 2024, U.S. exports to Hong Kong reached $876 million, a one percent increase over the prior year.
