Competitive Trade Analysis Hong Kong

Transcription

1 MARKET ACCESS SECRETARIAT Global Analysis Report Competitive Trade Analysis Hong Kong June 2015 REPORT CONTENT SUMMARY This report looks to highlight the major sectors in Hong Kong, and attempts to identify the best opportunities for Canadian exports. Specifically, the data analysis that follows focusses on the top ten Hong Kong imports by major aggregate sector, of which Canada is a supplier. It identifies the gap between Hong Kong s imports from the world and the portion provided by Canada, and then outlines top international competitors. In addition, the analysis examines re-exports of products originating from Canada and other parts of the world to further highlight domestic consumption opportunities within Hong Kong. Unless otherwise specified, all figures in this document are based on import data as reported by the Hong Kong Census and Statistics Department, sourced from Global Trade Atlas (2015). HONG KONG MARKET SUMMARY Hong Kong was the world s eighth-largest importer of agri-food and seafood products with a value of C$31.6 billion in It recorded a significant trade deficit of C$20.7 billion in the same year, with exports valued at C$10.9 billion. The top suppliers of agri-food and seafood products to Hong Kong include with 19.8% market share, the United States (15.17%) and Brazil (9.1%). Canada is the 10 th -largest supplier of agri-food and seafood products to Hong Kong. Canada s proportion of Hong Kong s agri-food and seafood product imports increased by 31.6% in CONTENTS Report Content Summary... 1 Hong Kong Market Summary... 1 Trade Overview... 2 Top Ten Agri-Food and Seafood Commodity Imports Meat and Edible Offal Edible Fruit and Nuts Fish and Crustaceans Beverages Dairy, Eggs and Honey Furskins and Artificial Fur Prepared Meat and Fish Miscellaneous Edible Preparations Tobacco Baking Related Goods Conclusion For More Information Resources Annex: Abbreviations Note: Please see the Annex at the end of this document for a list of abbreviations that will be used throughout this report. Visit our online library of public reports for more information on this and other markets.

2 TRADE OVERVIEW In 2014, Hong Kong was the eighth-largest importer of agri-food and seafood products in the world, and recorded a trade deficit of C$20.7 billion. Hong Kong imported C$31.6 billion and exported C$10.9 billion worth of agri-food and seafood products in the same year. The top commodities imported by Hong Kong are meat and edible offal (24.0% of total imports), edible fruit and nuts (13.7%), and fish and crustaceans (11.2%). The leading supplying countries of overall agri-food and seafood product imports are, the United States, and Brazil. Canada is the 10 th -largest supplier of Hong Kong s agri-food and seafood imports; however, the value of Canadian imports decreased in 2014, after a significant increase in Hong Kong s Top Ten Suppliers of Agri-Food and Seafood Products, C$ Millions Country World 20, , , , , , , , , , United States 3, , , , , Brazil 1, , , , , Netherlands , , France , , , , Japan 1, , , , , Thailand , Australia , Denmark , Canada Hong Kong s Top Ten Suppliers of Agri-Food and Seafood Products, % Share Country PP Change United States Brazil Netherlands France Japan Thailand Australia Denmark Canada Page 2

3 Canada has a large supply gap with Hong Kong, despite being its 10 th -largest supplier of agri-food and seafood products. Hong Kong has a diverse supplier list for agri-food and seafood products, totaling 186 countries in 2014, but the top five players represented a combined 53.3% of the market, signalling a relatively concentrated supply environment. Agri-food and Seafood Products Supply Gap, 2014, C$ Millions Hong Kong s imports from the world 20, , , , , Hong Kong s imports from Canada Supply gap 19, , , , , Meat and edible offal was Hong Kong s top-grossing commodity in 2014, with a value of just under C$7.6 billion or 24.0% of overall agri-food and seafood imports. However, over the 2010 to 2014 period, meat and edible offal was an average performer with a compound annual growth rate (CAGR) of 14.7%. In comparison, the slightly smaller categories of dairy, eggs and honey, prepared meat and fish, and baking related goods posted the strongest value sales growth with CAGRs of 18.4%, 18.3% and 15.0%, respectively, over the same period. Hong Kong s Top Ten Agri-Food and Seafood Commodity Imports from the World, C$ Millions Rank HS Commodity Total Agri-Food and Seafood Imports 20, , , , , Meat and edible offal 4, , , , , Edible fruit and nuts 2, , , , , Fish and crustaceans 2, , , , , Beverages 2, , , , , Dairy, eggs and honey 1, , , , , Furskins and artificial fur 2, , , , , Prepared meat and fish , , , , Miscellaneous edible preparations , Tobacco Baking related goods Page 3

4 TOP TEN AGRI-FOOD AND SEAFOOD COMMODITY IMPORTS 1. MEAT AND EDIBLE OFFAL Hong Kong s Top Ten Suppliers of Meat and Edible Offal, C$ Millions Country World 4, , , , , Brazil 1, , , , , United States , , , Germany Australia Netherlands Canada Argentina Poland New Zealand Hong Kong s Top Suppliers of Meat and Edible Offal, % Share Country PP Change Brazil United States Germany Australia Netherlands Canada Argentina Poland New Zealand Page 4

5 In 2014, 27.1% of the total meat and edible offal imported by Hong Kong was re-exported to other countries. The top re-export destinations of meat and edible offal were Vietnam (53.6%), (18.2%) and Taiwan (15.4%). During the period, 6.1% of the total meat and edible offal imported from Canada was re-exported to other countries. However, Hong Kong s domestic consumption of Canadian meat and edible offal grew by a CAGR of 21.9% over the same period. Meat and Edible Offal Supply Gap, C$ Millions Hong Kong s imports from the world 4, , , , , Hong Kong s imports from Canada Supply gap 4, , , , , Meat and Edible Offal Re-Exports, C$ Millions Hong Kong s total re-exports 1, , , , , Hong Kong s re-exports from Canada Meat and Edible Offal Domestic Consumption Supply Gap, C$ Millions consumed imports from the world consumed imports from Canada 2, , , , , Domestic consumption supply gap 2, , , , , Page 5

6 HS Hong Kong s Top Five Meat and Edible Offal Product Imports, C$ Millions Product Description Frozen boneless beef , , Frozen chicken cuts and edible offal (including livers) Frozen edible pork offal, except livers 1, , , , Frozen edible beef offal , Frozen pork Hong Kong s Top Five Meat and Edible Offal Product Imports and Top Supplying Countries, 2014 HS Product Description Frozen boneless beef Frozen chicken cuts and edible offal (including livers) Frozen edible pork offal, except livers Frozen edible beef offal Frozen pork Market Share % Brazil Brazil United States Brazil Brazil United States United States Germany Argentina Australia Netherlands Australia 7.35 Netherlands 8.50 Canada s % Share Page 6

7 2. EDIBLE FRUIT AND NUTS Hong Kong s Top Ten Suppliers of Edible Fruit and Nuts, C$ Millions Country World 2, , , , , United States 1, , , , , Iran Thailand Chile South Africa Australia Peru Philippines New Zealand (18) Canada Hong Kong s Top Ten Suppliers of Edible Fruit and Nuts, % Share Country PP Change United States Iran Thailand Chile South Africa Australia Peru Philippines New Zealand (18) Canada Page 7

8 In 2014, 47.3% of the total edible fruit and nuts imported into Hong Kong were re-exported to other countries. The top re-export destinations were (58.7%), Vietnam (29.7%) and Taiwan (4.0%). Over the period, 4.0% of the total edible fruit and nuts imported from Canada were re-exported to other countries. However, Hong Kong s domestic consumption of Canadian edible fruit and nuts grew by a CAGR of 35.2% over the same period. Edible Fruit and Nuts Supply Gap, C$ Millions Hong Kong s imports from the world 2, , , , , Hong Kong s imports from Canada Supply gap 2, , , , , Edible Fruit and Nuts Re-Exports, C$ Millions Hong Kong s total re-exports 1, , , , , Hong Kong s re-exports from Canada Edible Fruit and Nuts Domestic Consumption Supply Gap, C$ Millions consumed imports from the world consumed imports from Canada 1, , , , , Domestic consumption supply gap 1, , , , , Page 8

9 Hong Kong s Top Five Edible Fruit and Nut Product Imports, C$ Millions HS Product Description Fresh or dried pistachios, in-shell Fresh grapes Fresh cherries Fresh durians Fresh oranges Hong Kong s Top Five Edible Fruit and Nut Product Imports and Top Supplying Countries, 2014 HS Product Description Fresh or dried pistachios, in-shell Fresh grapes Fresh cherries Fresh durians Fresh oranges Market Share % Canada s % Share Iran United States Chile Thailand United States United States Chile United States Malaysia 0.91 South Africa Peru Australia 4.88 Vietnam 0.22 Australia N/A 0.87 Page 9

10 3. FISH AND CRUSTACEANS Hong Kong s Top Ten Suppliers of Fish and Crustaceans, C$ Millions Country World 2, , , , , , Japan Norway United States Vietnam Canada Indonesia Australia Philippines India Hong Kong s Top Ten Suppliers of Fish and Crustaceans, % Share Country PP Change Japan Norway United States Vietnam Canada Indonesia Australia Philippines India Page 10

11 In 2014, 26.7% of the fish and crustacean products imported by Hong Kong was re-exported to other countries, and 2.6% of the re-exports came from Canada. Hong Kong s top re-export destinations were Vietnam (51.1%), (13.3%) and Macau (10.3%). Over the period, 19.1% of the total fish and crustacean products imported from Canada was re-exported to other countries. However, Hong Kong s domestic consumption of Canadian fish and crustaceans grew by a CAGR of 0.6% over the same period. Fish and Crustaceans Supply Gap, C$ Millions Hong Kong s imports from the world 2, , , , , Hong Kong s imports from Canada Supply gap 2, , , , , Fish and Crustaceans Re-Exports, C$ Millions Hong Kong s total re-exports Hong Kong s re-exports from Canada Fish and Crustaceans Domestic Consumption Supply Gap, C$ Millions consumed imports from the World consumed imports from Canada 2, , , , , Domestic consumption supply gap 2, , , , , Page 11

12 HS Hong Kong s Top Five Fish and Crustacean Product Imports, C$ Millions Product Description Frozen shrimp and prawns Sea cucumbers Live fish Frozen/dried/salted/in-brine scallops, including queen Smoked/dried/salted/brined fish heads, tails and maws Hong Kong s Top Five Fish and Crustacean Product Imports and Top Supplying Countries, 2014 HS Product Description Frozen shrimp and prawns Sea cucumbers Live fish Frozen/dried/salted/in-brine scallops, including queen Smoked/dried/salted/brined fish heads, tails and maws Market Share % Canada s % Share Vietnam Myanmar Japan Japan India Philippines Brazil Mexico 6.38 Indonesia Canada 6.16 Uganda < <0.01 Page 12

13 4. BEVERAGES *does not include juices Hong Kong s Top Ten Suppliers of Beverages, C$ Millions Country World 2, , , , , France , United Kingdom Australia United States South Korea Japan Italy Taiwan Germany (23) Canada Hong Kong s Top Ten Suppliers of Beverages, % Share Country PP Change France United Kingdom Australia United States South Korea Japan Italy Taiwan Germany (23) Canada Page 13

14 In 2014, 37.4% of the total beverages imported by Hong Kong were re-exported to other countries. The top re-export destinations were (41.6%), Vietnam (28.6%) and Macau (22.3%). During the period, 19.5% of the total beverages imported from Canada were re-exported to other countries. Hong Kong s domestic consumption of Canadian beverages decreased by a CAGR of 16.0% over the same period. Beverages Supply Gap, C$ Millions Hong Kong s imports from the world 2, , , , , Hong Kong s imports from Canada Supply gap 2, , , , , Beverages Re-Exports, C$ Millions Hong Kong s total re-exports , Hong Kong s re-exports from Canada Beverages Domestic Consumption Supply Gap, C$ Millions consumed imports from the world consumed imports from Canada 1, , , , , Domestic consumption supply gap 1, , , , , Page 14

15 HS Hong Kong s Top Five Beverage Product Imports, C$ Millions Product Description Wine of fresh grapes (other than sparkling) <2 litres Ice and snow waters other than mineral or aerated, not sweetened or flavoured Grape brandy Non-alcoholic beverages Spirits including cordials, liqueurs, kirshwasser, ratafia, and vodka Hong Kong s Top Five Beverage Product Imports and Top Supplying Countries, 2014 HS Product Description Wine of fresh grapes (other than sparkling) <2 litres Ice and snow waters other than mineral or aerated, not sweetened or flavoured Grape brandy Market Share % Canada s % Share France France United Kingdom Japan <0.01 United Kingdom South Korea <0.01 Singapore N/A N/A Non-alcoholic beverages Taiwan United States Spirits including cordials, liqueurs, kirshwasser, ratafia, and vodka Australia 1.15 Mexico 0.79 N/A Page 15

16 5. DAIRY, EGGS AND HONEY Hong Kong s Top Ten Suppliers of Dairy, Eggs and Honey, C$ Millions Country World 1, , , , , Netherlands , Indonesia New Zealand Australia Ireland United States Singapore Germany Thailand (22) Canada Hong Kong s Top Ten Suppliers Dairy, Eggs and Honey, % Share Country PP Change Netherlands Indonesia New Zealand Australia Ireland United States Singapore Germany Thailand (22) Canada Page 16

17 In 2014, 13.9% of the total dairy, eggs and honey products imported by Hong Kong were re-exported to other countries. The top re-export destinations were Macau (84.2%), (8.9%) and Vietnam (3.5%). During the period, 8.3% of the total dairy, egg and honey products imported from Canada was re-exported to other countries. However, Hong Kong s domestic consumption of Canadian dairy, egg and honey grew by a CAGR of 27.7% over this same period. Dairy, Eggs and Honey Supply Gap, C$ Millions Hong Kong s imports from the world 1, , , , , Hong Kong s imports from Canada Supply gap 1, , , , , Dairy, Eggs and Honey Re-Exports, C$ Millions Hong Kong s total re-exports Hong Kong s re-exports from Canada Dairy, Eggs and Honey Domestic Consumption Supply Gap, C$ Millions consumed imports from the world consumed imports from Canada 1, , , , , Domestic consumption supply gap 1, , , , , Page 17

18 Hong Kong s Top Five Dairy, Eggs and Honey Product Imports, C$ Millions HS Product Description Concentrated milk/cream, not sweetened, in powder, granules or other solid forms, >1.5% fat content by weight Edible products of animal origin Fresh chicken eggs Concentrated milk/cream, not sweetened Milk/cream, not concentrated nor sweetened >1% but <6% fat content by weight Hong Kong s Top Five Dairy, Eggs and Honey Product Imports and Top Supplying Countries, 2014 HS Product Description Market Share % Canada s % Share Concentrated milk/cream, not sweetened, in powder, granules or other solid forms, >1.5% fat content by weight Netherlands Ireland 7.06 New Zealand Edible products of animal origin Indonesia Malaysia 3.81 Vietnam N/A Fresh chicken eggs United States Thailand Concentrated milk/cream, not sweetened Netherlands Singapore Malaysia N/A Milk/cream, not concentrated nor sweetened >1% but <6% fat content by weight Thailand Australia Page 18

19 6. FURSKINS AND ARTIFICIAL FUR Hong Kong s Top Ten Suppliers of Furskins and Artificial Fur, C$ Millions Country World 2, , , , , , , , , , Denmark , Canada Finland Italy Netherlands United States Greece France United Kingdom Hong Kong s Top Ten Suppliers of Furskins and Artificial Fur, % Share Country PP Change Denmark Canada Finland Italy Netherlands United States Greece France United Kingdom Page 19

20 In 2014, only 26.9% of the total furskins and artificial fur imported by Hong Kong was consumed domestically, with the remaining 73.1% re-exported to other countries. The top re-export destinations were (74.0%), Vietnam (6.2%) and Russia (3.4%). During the period, 97.7% of the total furskins and artificial fur imported from Canada was re-exported to other countries. Hong Kong s domestic consumption of Canadian furskins and artificial fur decreased substantially by a CAGR of 42.8% over the same period. Furskins and Artificial Fur Supply Gap, C$ Millions Hong Kong s imports from the world 2, , , , , Hong Kong s imports from Canada Supply gap 2, , , , , Furskins and Artificial Fur Re-Exports, C$ Millions Hong Kong s total re-exports 1, , , , , Hong Kong s re-exports from Canada Furskins and Artificial Fur Domestic Consumption Supply Gap, C$ Millions consumed imports from the world consumed imports from Canada , , Domestic consumption supply gap , , Page 20

21 Hong Kong s Top Five Furskins and Artificial Fur Product Imports, C$ Millions HS Product Description Whole tanned/dressed not assembled mink furskins , , Whole raw mink furskins 1, , Articles of apparel and clothing accessories of furs Whole tanned/dressed not assembled furskins Whole/pieces tanned/assembled furskins Hong Kong s Top Five Furskins and Artificial Fur Product Imports and Top Supplying Countries, 2014 HS Product Description Whole tanned/dressed not assembled mink furskins Whole raw mink furskins Articles of apparel and clothing accessories of furs Whole tanned/dressed not assembled furskins Whole/pieces tanned/assembled furskins Market Share % Canada s % Share Denmark Denmark 2.86 Canada Italy Italy 5.10 Spain 2.40 Netherlands 1.74 Finland 6.92 Greece 3.56 Finland 3.27 France Page 21

22 7. PREPARED MEAT AND FISH Hong Kong s Top Ten Suppliers of Prepared Meat and Fish, C$ Millions Country World , , , , United States Thailand Poland Spain Brazil Australia Paraguay Taiwan Japan (19) Canada Hong Kong s Top Ten Suppliers of Prepared Meat and Fish, % Share Country PP Change United States Thailand Poland Spain Brazil Australia Paraguay Taiwan Japan (19) Canada Page 22

23 In 2014, 12.5% of the total prepared meat and fish imported by Hong Kong was re-exported to other countries. The top re-export destinations were Vietnam (62.5%), Macau (21.7%) and Singapore (3.7%). During the period, almost 15.0% of the total prepared meat and fish imported from Canada was re-exported to other countries. However, Hong Kong s domestic consumption of Canadian prepared meat and fish increased by a CAGR of 25.3% over the same period. Prepared Meat and Fish Supply Gap, C$ Millions Hong Kong s imports from the world , , , , Hong Kong s imports from Canada Supply gap , , , , Prepared Meat and Fish Re-Exports, C$ Millions Hong Kong s total re-exports Hong Kong s re-exports from Canada Prepared Meat and Fish Domestic Consumption Supply Gap, C$ Millions consumed imports from the World consumed imports from Canada , , , , Domestic consumption supply gap , , , , Page 23

24 Hong Kong s Top Five Prepared Meat and Fish Product Imports, C$ Millions HS Product Description Prepared/preserved pork or pork offal Prepared/preserved chicken or chicken offal Prepared/preserved beef or beef offal Prepared/preserved fish Prepared/preserved abalone Hong Kong s Top Five Prepared Meat and Fish Product Imports and Top Supplying Countries, 2014 HS Product Description Prepared/preserved pork or pork offal Prepared/preserved chicken or chicken offal Prepared/preserved beef or beef offal Prepared/preserved fish Prepared/preserved abalone Market Share % Canada s % Share Paraguay Poland 9.18 Thailand United States 9.14 Japan Australia United States 8.91 United States 7.36 Brazil 8.11 Taiwan South Africa N/A Page 24

25 8. MISCELLANEOUS EDIBLE PREPARATIONS Hong Kong s Top Ten Suppliers of Miscellaneous Edible Preparations, C$ Millions Country World , United States Japan Netherlands Malaysia Taiwan France Thailand South Korea Australia (16) Canada Hong Kong s Top Ten Suppliers of Miscellaneous Edible Preparations, % Share Country PP Change United States Japan Netherlands Malaysia Taiwan France Thailand South Korea Australia (16) Canada Page 25

26 In 2014, 21.4% of Hong Kong s total imports of miscellaneous edible preparations was re-exported to other countries. The top re-export destinations were (35.0%), Macau (32.3%) and the United States (8.7%). During the period, almost 10.0% of the total miscellaneous edible preparations imported from Canada was re-exported to other countries. However, Hong Kong s domestic consumption of Canadian miscellaneous edible preparations increased by a CAGR of 7.8% over the same period. Miscellaneous Edible Preparations Supply Gap, C$ Millions Hong Kong s imports from the world , Hong Kong s imports from Canada Supply gap , Miscellaneous Edible Preparations Re-Exports, C$ Millions Hong Kong s total re-exports Hong Kong s re-exports from Canada Miscellaneous Edible Preparations Domestic Consumption Supply Gap, C$ Millions consumed imports from the world consumed imports from Canada Domestic consumption supply gap Page 26

27 Hong Kong s Top Five Miscellaneous Edible Preparation Product Imports, C$ Millions HS Product Description Food preparations Sauces, mixed condiments and seasonings Soups, broths and preparations Soy sauce Coffee extracts, essences, concentrates and related preparations Hong Kong s Top Five Food Miscellaneous Edible Preparation Product Imports and Top Supplying Countries, 2014 HS Product Description Food preparations Market Share % Canada s % Share United States Netherlands Sauces, mixed condiments and seasonings Japan United States Soups, broths and preparations Malaysia United States Soy sauce Japan Singapore 7.83 < Coffee extracts, essences, concentrates and related preparations Malaysia Japan 8.20 N/A Page 27

28 9. TOBACCO Hong Kong s Top Ten Suppliers of Tobacco, C$ Millions Country World South Korea Serbia N/C Japan Cuba Singapore Macau Brazil Malaysia Germany (50) Canada N/C Hong Kong s Top Ten Suppliers of Tobacco, % Share Country PP Change South Korea Serbia Japan Cuba Singapore Macau Brazil Malaysia Germany (50) Canada N/C Page 28

29 Only 21.8% of the total tobacco imported by Hong Kong was consumed domestically, with the remaining 78.2% re-exported to other countries in The top re-export destinations were (51.1%), Vietnam (18.3%) and Macau (12.4%). The re-export of tobacco coming from Canada is essentially non-existent over the last five years. In addition, Hong Kong s imports of Canadian tobacco for domestic consumption have been inconsistent from, with no imports recorded in Tobacco Supply Gap, C$ Millions Hong Kong s imports from the world Hong Kong s imports from Canada N/C Supply gap Tobacco Re-Exports, C$ Millions Hong Kong s total re-exports Hong Kong s re-exports from Canada Tobacco Domestic Consumption Supply Gap, C$ Millions consumed imports from the world consumed imports from Canada N/C Domestic consumption supply gap Page 29

30 HS Hong Kong s Top Five Tobacco Product Imports, C$ Millions Product Description Cigarettes containing tobacco Cigars, cheroots and cigarillos containing tobacco Partly/wholly stemmed/stripped tobacco Smoking tobacco with/without tobacco substitute Homogenized/reconstituted tobacco Hong Kong s Top Five Tobacco Product Imports and Top Supplying Countries, 2014 HS Product Description Cigarettes containing tobacco Cigars, cheroots and cigarillos containing tobacco Partly/wholly stemmed/stripped tobacco Smoking tobacco with/without tobacco substitute Homogenized/reconstituted tobacco Market Share % Canada s % Share Cuba South Korea Switzerland Brazil Belgium 5.22 France Serbia Dominican Republic 9.89 Zimbabwe Denmark 3.87 South Korea N/A N/A N/A N/A N/A N/A Page 30

31 10. BAKING RELATED GOODS Hong Kong s Top Ten Suppliers of Baking Related Goods, C$ Millions Country World Japan Indonesia Taiwan South Korea Thailand United States Denmark Malaysia Singapore (24) Canada Hong Kong s Top Ten Suppliers of Baking Related Goods, % Share Country PP Change Japan Indonesia Taiwan South Korea Thailand United States Denmark Malaysia Singapore (24) Canada Page 31

32 In 2014, over 19.0% of all baking related goods imported by Hong Kong was re-exported to other countries. The top re-export destinations were (39.8%), Macau (39.0%) and the United States (3.3%). During the period, 3.5% of baking related goods imported from Canada was re-exported to other countries. However, Hong Kong s domestic consumption of Canadian baking related goods increased by a CAGR of 12.6% over the same period. Baking Related Goods Supply Gap, C$ Millions Hong Kong s imports from the world Hong Kong s imports from Canada Supply gap Baking Related Goods Re-Exports, C$ Millions Hong Kong s total re-exports Hong Kong s re-exports from Canada Baking Related Goods Domestic Consumption Supply Gap, C$ Millions consumed imports from the world consumed imports from Canada Domestic consumption supply gap Page 32

33 HS Hong Kong s Top Five Baking Related Goods Product Imports, C$ Millions Product Description Bread, pastry, cakes, biscuits, etc. and puddings Prepared pasta Uncooked (spaghetti and macaroni) pasta, not stuffed Cookies (sweet biscuits) Malt extract; products of flour, meal etc. with <40% cocoa; milk/cream products with <50% cocoa Hong Kong s Top Five Baking Related Goods Product Imports and Top Supplying Countries, 2014 HS Product Description Market Share % Canada s % Share Bread, pastry, cakes, biscuits, etc. and puddings Japan Indonesia Prepared pasta Japan South Korea N/A Uncooked (spaghetti and macaroni) pasta, not stuffed Italy Japan Cookies (sweet biscuits) Japan United Kingdom Malt extract; products of flour, meal etc. with <40% cocoa; milk/cream products with <50% cocoa Singapore New Zealand Malaysia Page 33

34 CONCLUSION Hong Kong is the world s eighth-largest importer of agri-food and seafood products, and Canada is ranked as the 10 th -largest supplier of agri-food and seafood to Hong Kong. However, there is a significant supply gap between Hong Kong and Canada that has only been widening in recent years. While Hong Kong sources agri-food and seafood products from a large number of countries, among many commodities the vast majority of imports come from the top one or two suppliers, leaving just marginal market share for others. Canada holds less than 1.5% market share in all of Hong Kong s top ten imported commodities, except furskins and artificial fur, where Canada has a 5.9% share. Canada also falls outside of the top ten suppliers in five of Hong Kong s top imported commodities (edible fruit and nuts; beverages; dairy, eggs and honey; prepared meat and fish; miscellaneous edible preparations; tobacco; and baking related goods). However, Hong Kong s imports from Canada have increased in seven of the top ten commodities, with the exceptions being beverages; dairy, eggs and honey; and tobacco. This may indicate further opportunities to lessen the gap, particularly within the commodities where growth in imports from Canada outpaced growth in imports from the world, such as in edible fruit and nuts. It is important to note that Hong Kong re-exported C$9.9 billion worth of agri-food and seafood products in 2014, representing 31.3% of the total agri-food and seafood exported by Hong Kong. Re-exports of agri-food and seafood products originating from Canada were valued at C$203.7 million, thus positioning Hong Kong as a potential gateway for Canada to access other Asian markets. FOR MORE INFORMATION International Trade Commissioners can provide Canadian industry with on-the-ground expertise regarding market potential, current conditions and local business contacts, and are an excellent point of contact for export advice. Overview of Trade Commissioner Services in Hong Kong Find a Trade Commissioner For additional intelligence on this and other markets, the complete library of Global Analysis reports can be found under Statistics and Market Information at the following link, arranged by sector and region of interest: ats-sea.agr.gc.ca RESOURCES Global Trade Atlas (March 2015). ANNEX: ABBREVIATIONS CAGR - compound annual growth rate N/A - not applicable N/C - not calculable PP - percentage point (difference between two percentage values) Page 34

35 Competitive Trade Analysis: Hong Kong Global Analysis Report Prepared by: Oumou Keita, Co-op Student Her Majesty the Queen in Right of Canada, represented by the Minister of Agriculture and Agri-Food (2015). Photo Credits All photographs reproduced in this publication are used by permission of the rights holders. All images, unless otherwise noted, are copyright Her Majesty the Queen in Right of Canada. For additional copies, to request an alternate format, and for all other inquiries regarding this publication, please contact: Agriculture and Agri-Food Canada, Global Analysis 1341 Baseline Road, Tower 5, 3 rd floor Ottawa, ON Canada K1A 0C5 infoservice@agr.gc.ca The Government of Canada has prepared this report based on primary and secondary sources of information. Although every effort has been made to ensure that the information is accurate, Agriculture and Agri-Food Canada (AAFC) assumes no liability for any actions taken based on the information contained herein. Reproduction or redistribution of this document, in whole or in part, must include acknowledgement of Agriculture and Agri-Food Canada as the owner of the copyright in the document, through a reference citing AAFC, the title of the document and the year. Where the reproduction or redistribution includes data from this document, it must also include an acknowledgement of the specific data source(s), as noted in this document. Agriculture and Agri-Food Canada provides this document and other report services to agriculture and food industry clients free of charge. Page 35