NEWS
HONG KONG IMPORTED 207% MORE WINES FROM AUSTRALIA JAN-MAY THIS YEAR
By Susan Lewis
8-7-2021
Credit: David Mathews
Hong Kong has imported twice more wines from Australia this year so far, in May alone, the city imported three times more Australian wines compared to same month last year, according to Hong Kong government statistics.
While Australian wine exports to Mainland China have effectively been halted because of the punitive tariffs, some of the Australian wines originally destined to China have landed in Hong Kong instead.
In May alone, Hong Kong imported HKD221.5 million worth of wines from Australia, an increase of 340 percent from May 2020’s import value, Hong Kong’s statistics show.
Between January and May this year, Hong Kong imported a total of HKD725.7 million worth of Australian wines, representing an increase of 207 percent from the same period last year.
Australian wines are Hong Kong’s second-biggest source of imported wines in May. Meanwhile, French wines remained Hong Kong’s top choice of overseas wines, importing HKD467.3 million worth of French wines in the same month, climbing 35 percent year-on-year.
Australian bottled wines have to pay punitive tariffs 116.2 percent to 218.4 percent when exporting to China from 28 March this year. This arrangement will last for years.
The hefty tariffs effectively halted Australian wine trade with China with export volume and value crashed over 90 percent.
Hong Kong, which enjoy independent customs status from China, has adopted a zero tariff policy on importation of wines since 2008, allowing Australian wine exporters to export to the city with no tariffs.
(the writer can be contacted at: info@thewinechronicle.com)
ALL RIGHTS RESERVED
**IF YOU THINK THE WINE CHRONICLE IS WORTH SUPPORTING, PLEASE MAKE A DONATION TO HELP US IMPROVE AND CONTINUE OUR WORK**
TRENDING│ FOCUS│ MISSION│ ABOUT US│ CONTACT
| 