Browse Data and Analysis

In 2023, Hong Kong was the 17th-largest market for U.S. agricultural products globally. That same year, the United States exported $1.5 billion of agricultural products and was the third-largest supplier of consumer-oriented food products to Hong Kong after China and Australia.

Korea’s beer imports reached $218 million in 2023, up 11.8 percent from $195 million in 2022, but still 30 percent down from the record high of $310 million in 2018. Although Korea’s beer imports have been decreasing since the pandemic, the United States increased exports of beer to Korea in 2023, reaching $17.9 million, up 43% from $12.5 million in 2022.

In 2023, Hong Kong was the world’s nineth largest spirits importer. The city’s global imports surpassed pre-pandemic levels by 30 percent and reached a new record valued of $779 million. Last year, domestic consumption grew significantly as both on-trade and off-trade sales registered remarkable growth.

Under a new policy, importers of wine and distilled spirits whose domestic agents are registered within the Shanghai Free Trade Zone are no longer required to register the U.S. producer name and brand as a trademark in China prior to commercial sales.

Korea’s wine import sector has been undergoing a stabilizing phase since the explosive growth around 2021. In 2023, wine imports reached 506 million USD, down 12.9 percent from the previous year, totaling 56.5 million kg, a decrease of 20.4 percent compared to 2022.

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.

ATO Taipei, in partnership with thirteen Taiwan craft beer breweries and four U.S. craft beer importers, delivered a successful consumer-facing craft beer festival that promoted U.S. ingredients through 84 craft beers.

In 2019, the EU-Japan Economic Partnership Agreement (EPA) entered into force. As a result, Japan approved 16 new wine additives that were previously not allowed in wine produced or consumed in Japan.

The U.S. Hoppy Duo IPA trade outreach event, featuring lead brewmasters from Sierra Nevada and Fremont breweries, achieved remarkable success in strengthening relations between the U.S. and Taiwan’s craft beer industries.

From February 23, 2024, U.S. wines can access the Thai market duty-free and with lower excise taxes.

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.

The 2024 China Food and Dinks Fair (CFDF, also called Tangjiuhui) which includes a pre-show and expo, will be held from March 16-22nd, 2024, in Chengdu, the capital city of Sichuan Province. As one of China’s largest food and beverage trade shows...