The volume of exported goods in Hong Kong grew by 15% in March, compared to the same month last year. The total quantity of imported goods also rose according to the Census and Statistics Department. Many of the entrepreneurs who are interested in company formation in Hong Kong
choose a business field that is connected to trade or that produces exportable goods.
Import/export growth in March
The volume of imports to Hong Kong and that of exports from the city increased in March this year, compared to March 2016.
The data was released by the Census and Statistics Department of Hong Kong and shows that the total volume of exported goods grew by 15%, while that of imports rose by 11.2%. The volume of re-exports increased by 15.1% percent and the domestic exports grew by 13%. The price per exported goods also increased during the analyzed period, by 1.7%, the same as the price for the re-exports. The price of imports rose by 1.8%. The most significant price increase was recorded for domestic exports: 4%.
On a seasonally adjusted basis, the data is slightly different compared to the final quarter of 2016, the first quarter of 2017 recorded a slightly lower volume of exported goods.
The import/export business in Hong Kong
Hong Kong has a well-developed trade industry that is part due to its geographical location and part due to its customs-free regime and the low tax rates
Import and export companies need to obtain special permits and licenses in order to operate in the city and, depending on the types of goods they commercialize, observe the controlled goods policy.
for more information on opening a Hong Kong company
, the requirements for foreign investors and other business-related matters in Hong Kong.
Our company formation agents in Hong Kong can answer your questions and help you during the company registration and licensing process.