Browse Data and Analysis

Bite size local news, Post reports and activity summaries wrapped by ATO Hong Kong.

On October 16 the Hong Kong Government (HKG) announced a significant reduction in the duty on imported alcoholic beverages with an alcohol content above 30 percent by volume.

Ample opportunities exist for U.S. agricultural exports to South Korea. Highlighted in the chart above, U.S. agricultural product exports were a record $9.5 billion in 2022, up 2 percent from 2021. South Korea is the sixth largest export market for the United States, thanks in part to a successful free trade agreement (KORUS) between the two countries and a robust demand for high-quality U.S. food products.

Japan’s National Tax Agency (NTA) proposed to recognize Single Malt Welsh Whisky as a geographical indication (GI) alcoholic beverage from the United Kingdom (UK).

Japan has a well-developed food retail market that demands high-quality, high-value agricultural and food products. Despite reduced economic activity during the COVID-19 pandemic, trade data show that agricultural imports have remained resilient.

In 2022, Hong Kong was the world’s tenth largest spirits importer, with global imports recovering 7 percent year-on-year and valued at $502 million. From 2020-2021, Hong Kong’s imports and domestic sales of spirits were seriously hampered under the COVID-19 pandemic, as most restaurants, pubs, and bars were closed due to stringent dining, social distancing, and travel restrictions.

China will continue to collect countervailing (CVD) and antidumping (AD) duty duties on imported Distiller’s Dried Grains with or without Solubles (DDGS) from the United States for five more years.