Browse Data and Analysis

With over 2,500 facilities, the Israeli food processing sector is an important player in the domestic economy. In 2022, Israeli food processors' annual revenue stood at $23.19 billion.

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.

Israel is a net importer of all major categories of food products. The Israeli food retail sector was estimated to be $20.7 billion in 2023, and during the same year, Israel imported around $4.96 million of consumer-oriented products.

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 was the tenth export market for U.S. pet food. Pet owners in Hong Kong value U.S. pet food for its high safety and quality and have confidence in U.S. origin and branding.

The Hong Kong market has developed into a dynamic wine export destination since the abolishment of wine tariffs in 2008. The slow recovery of the global economy dampened the city’s global imports of wine in 2023.

Despite a small population of 7.3 million people, Hong Kong is the tenth-largest export market for U.S. consumer-ready agricultural products. Hong Kong has always been an attractive market for innovative U.S. food and beverage products as well as a gateway to the region.

Israel is a net importer of all major categories of food products. The United States is the top leading supplier of imported consumer-oriented agricultural products to Israel with a total of $444 million in 2022. The Israel food retail sector was estimated at around $13 billion in 2022.

With over 1,800 facilities, the Israeli food processing sector is an important player in the domestic economy. In 2021, Israeli food processors' annual revenue stood at $21.23 billion while the beverage and tobacco industry's annual revenue was $2.67 billion.

Israel's reform to decentralize the control on toiletries and food will impact the import of processed food products.

Israel's chief rabbi affirms cultivated steak is kosher, which means it is permitted for consumption by Jews under religious law. This ruling opens the door for companies producing cultivated meat directly from laboratory grown cells to receive a kosher certification.