Hong Kong: Asia's Lucrative Trading Hub
Since 1989, imports to Hong Kong have outpaced its exports. Hong Kong's achievements as an international trading, finance and manufacturing centre are well-known and widely documented. The territory is one of the world's largest consumers of foreign goods. Its lack of natural resources make the territory heavily dependent on imports.
Low taxes, a sound legal and financial system, a secure currency pegged to the US dollar and a well-developed infrastructure and telecommunications network have each helped contribute to Hong Kong's success as a free and dynamic market.
Over the past 20 years, the territory's economy has expanded four-fold. Its trade in goods has soared by a factor of 37 and services by 24 over that period, Hong Kong one of the greatest cities in the world for doing business.
Confectionery Demand Up in the Pacific Rim
Demand for confectionery in the Pacific Rim has risen by just over 11% since 1993
893,346 tonnes of confectionery were sold in the region in 1999
Regional consumption of confectionery is forecast to grow by just over 14% by 2005
Consumption of chewing gum and bubble gum driven by growing demand for sugar free gum is forecast to experience the highest growth out of all three sectors
Confectionery: Pacific Rim Market Size and Growth, 1993 - 2005
| COUNTRY |
MARKET BREAKDOWN 1999 |
% CHANGE |
| . |
Chocolate |
Sugar % |
Chewing Gum % |
93 -99 % |
95-05 % |
| Hong Kong |
62.4 |
28.4 |
9.2 |
14.9 |
10.6 |
| Indonesia |
13.5 |
79.9 |
6.5 |
60.7 |
52.5 |
| Japan |
50.0 |
39.0 |
11.0 |
-3.6 |
3.0 |
| Malaysia |
29.3 |
67.7 |
3.0 |
24.8 |
42.3 |
| Philippines |
41.5 |
55.0 |
3.5 |
52.0 |
10.1 |
| Singapore |
35.9 |
64.1 |
- |
12.6 |
12.3 |
| South Korea |
21.7 |
36.5 |
41.7 |
17.1 |
6.9 |
| Taiwan |
21.7 |
60.1 |
18.3 |
-9.2 |
7.3 |
| Thailand |
76.4 |
7.6 |
16.0 |
46.8 |
98.7 |
| TOTAL |
35.4 |
49.1 |
15.4 |
11.1 |
14.1 |
Confectionery Production up in the Pacific Rim
|
The region's confectionery production sector is rapidly expanding and taking up a prominent position in the food industry. |
|
The gross profitability rate in the confectionery production sector is over 6.5%, exceeding by far the average gross profitability in the Asian industry of 4.9%. |
|
There are over 3,000 manufacturers of confectionery products operating in the Asian market with sales of over 1 billion US dollars. |
|
The Asian domestic food manufacturing market is expected to grow between 4 and 5% over the next 5 years. |
|
In 1999, imports of food processing and packaging machinery were estimated at $900 million. |
