Thu 16 Jun 2011
HK wine imports sustain rapid growth
Wine imports to Hong Kong increased by as much as 78% in the first two months of 2011, according to Benjamin Chau, deputy executive director the Hong Kong Trade Development Council.
He told the drinks business that per capita consumption in Hong Kong was now 3.7 litres per person per year and that wine imports have increased dramatically and consistently since the country abolished duty on wine in February 2008.
“Wine imports for Hong Kong increased by 79.5% in 2008, and in 2009 – even during the financial crisis – Hong Kong still achieved an increase of 40%, while in 2010, wine imports increased by 73%.”
He added: “Not all the wine we import we consume in Hong Kong and much of it is for re-exporting to China.
“In year 2009, Hong Kong exports to the world increased by 75% and in 2010 we had high double-digit figures for export.”
Looking ahead he said: “For the next three years the Chinese market consumption of wine will go up probably no less than 100%.
“Chinese people more health conscious and in the past they drank strong liquor – Maotai – but now they are admiring of the western way of life and are more keen to consume table wine, so future wine consumption will grow rapidly,” he concluded.
Click here to hear more about the growth of wine sales in the Far East and Chau’s plans to develop the market using the Hong Kong International Wine Fair.
