The total value of goods exported from Hong Kong rose by 18.2
% in February, on a year-on-year comparison. Both the value of re-exports and that of the domestic exports increased, as per the data released by the Census and Statistics Department. Company formation in Hong Kong
for trading companies is similar to the process required for any type of company. A notable difference is that these businesses need special licensing.
Goods import increase in February
The value of the total goods exports from Hong Kong increased by 18.2% in February, compared to the value in February 2016. Imports rose even higher, with a 25.4% increase during the same time, as reported by the Hong Kong Census and Statistics Department.
The value of re-exports increased by more than 18% compared to last year, while the value of domestic exports increased by 3.8%. The total exported goods during the analyzed period amounted to 241.7 billion HK$.
When comparing February with the previous three months this reported growth had a value of 4% our of which the re-exports were the one to increase by 4.1%.
The recent improvement of the economic conditions is good for the overall trade in Hong Kong, however, experts expect a certain level of uncertainty concerning the future trading policy with the United States.
Hong Kong has signed a number of double tax treaties
, including with the U.S. and other countries worldwide.
Trading in Hong Kong
Companies that engage in trading and ant type of import and export activities need to obtain special permits
for functioning. These are used for bringing certain types of products in the country and/or for exporting them. Company formation in Hong Kong for trading companies includes the same steps as for other types of companies.
The Hong Kong Customs and Excise Department oversees the clearance companies need to obtain for exporting products over sea or land. Special consideration is given to some prohibited goods and dutiable commodities.