What’s Hong Kong’s top wine exporters?
Hong Kong’s wine market is predominately French, which takes up close to 65% of market share by value, according to Hong Kong Trade Statistics. Australia came in second with 11.2% market share, followed by the UK as London disseminates large amount of fine wines to the city, taking up 9.2% market share.
In volume terms, Hong Kong imported 34.7 million litres of wine in 2020. About 19% of this was re‑exported. The rest was either conveyed out of Hong Kong by individuals leaving the territory or retained for storage or local consumption.
Below is a breakdown of market shares of Hong Kong’s top wine exporting countries.
New Zealand: 1.2%
Re-exports to mainland China?
Hong Kong is a wine trading hub in Asia. Virtually all exports are re‑exports of imported wines, with Asia being the major market.
Mainland China and Macao, which accounted for nearly 70% of the total in 2020, are the major wine exporting destinations for Hong Kong. In 2020, total exports of wine dropped by 40.4% by value, following a decline of 56% the year before.
One potential explanation is strict border closure and diminished demand for imported wine during pandemic.
For more insights on Hong Kong wine market, read the HKTDC market report here.