Hong Kong recorded another increase in total exported goods in July
. The total value of exports grew then by 5.7% on a year-on-year basis. The data was recently released by the Census and Statistics Department. Import and export companies benefit from a low taxation regime in Hong Kong and other advantages because of the city’s positive policies for this type of activity. Our company formation agents in Hong Kong
can give you more information if you want to start a company in this field.
Rise in total exports in July
The total goods exports in Hong Kong recorded a rise in July, of 5.7%, compared to the same time last year. A previous growth
of 15% was recorded in March, also on a year-on-year basis.
Hong Kong managed to exceed the predicted GDP growth for this year, recording a 3.8% growth during the second quarter of 2017. A significant factor in this favorable evolution has been the positive evolution of the total value of exported goods. As the data shows, the export business grew by more than 5% in the second quarter of 2017, compared to the same period in 2016.
For the July period, the Census and Statistics Department also released data showing that the value of re-exports increased by 5.8 percent on a year-on-year basis while the imports volume increased by 4%.
Imports and exports in Hong Kong
Many investors in Hong Kong who decide to open a company here enter the import/export business or a connected field. The city’s close proximity to China makes it an ideal location to base a business and use it as a springboard to expand the operations to the Mainland and/or the rest of South East Asia. Almost all of the goods produced in Hong Kong have zero import tariff when shipped to China
Hong Kong is an important trading and financial center and two contributing factors are its low tax regime
and the free trade policy.
You can contact
our company formation agents in Hong Kong
for more information on trading in the city.