Hong Kong: Brazilian imports rise 30 percent in 2007

25 February 2008

Hong Kong, China, 25 Feb – Hong Kong’s imports from Brazil in 2007 increased by 30 percent year on year totalling US$1.3 billion, according to figures from the Brazilian Ministry of Development, Industry and Foreign Trade (MDIC), to which macauhub had access.

Frozen chicken and pork meat headed the list of Brazilian exports to Hong Kong accounting for 60 percent of the total.

Brazil also exported leather, wood, precious stones, granite, soy oil, tobacco and Brazil nuts amongst other goods.

According to the MDIC, in 2007 Brazil imported products worth US$600 million from Hong Kong, which was a 10 percent rise against 2006.

Total bilateral trade between Hong Kong and Brazil was US$1.935 billion in 2007, a rise of 14 percent against 2006.

Brazil’s consul-general in Hong Kong, Ricardo Drummond de Mello told macauhub that most of the goods imported into Hong Kong were for the Chinese market.

“There are a lot of importers based in Hong Kong, but the products come in here and are distributed to mainland China,” the diplomat said adding that this occurred because “there are lots of logistical benefits in Hong Kong,”due to its port structure.

In 2007, around 20 million tons of goods passed through Hong Kong’s port, according to figures from the Hong Kong Statistics and Census Department.

Hong Kong’s total imports and exports in 2007 were US$5.6 trillion with 47.5 percent accounting for trade with China.

Trade between Hong Kong and Brazil accounts for just 0.03 percent of the total balance of trade of the Special Administrative Region of China. (macauhub)