For centuries Hong Kong has been known for its desirable
coastal location, and to this day it is regarded as one of the world's top
bases in the financial world. Highly populated with currency that is traded
worldwide, Hong Kong enjoys low taxes and free trade in a variety of
industries. The success of this region in business is due partly to a healthy
economy fueled by exports, with mainland China, Japan, and the United States serving
as their major buyers. Businesses interested in acquiring quality product at a
good price often look to Hong Kong to stock their inventories.
When layman thinks of Asian exports to the United States, one
is likely to assume the majority of products shipped into American ports are
electronics and computer-related. It is true that in 2007 this region shipped
over half a billion dollars' worth of telecommunications equipment, computer
accessories, and similar items, yet Hong Kong provides the world much more.
Hong Kong doesn't necessarily limit trade to the United States, either: in
2009, the region ranked third among trade partners with China, and accounted
for nearly three percent of total global exports among the leading
manufacturing nations.
In 2009, Hong Kong's gross domestic product (GDP) enjoyed a
growth rate of 2.4%, with the total value of their goods and services trade
equivalent to more than 400% of their GDP. Presently, their GDP is worth over
200 billion dollars of the overall global trade economy.
Everyday items in your home, and the materials needed to
make them, might have just come from Hong Kong.
- Precious Metals - The demand for
gold and silver is always strong, and those who specialize in bullion
trading are looking more to Hong Kong for these types of currencies
- Ferrous Alloying Materials - Such
raw metals, which are iron-based, are sought after for their flexibility
and durability. Importers seek un-manufactured stainless steels, cast
irons, and carbon steels in bulk which are then shipped to domestic plants
to create household items or construction goods.
- Food Processing Machinery - Hong
Kong is hardly an agricultural region, yet the equipment they produce is
used to help companies around the world process and package foods.
- Hair - While an unusual product to
consider exporting, demand for hair from Hong Kong is rising steadily
since 2006. Hair is used for wig and toupee production, hair and braid
extensions, and similar pieces.
Of the "Asian Tigers," powerhouses of the East in global
trade, Hong Kong is one worth watching if you rely on foreign trade for the
success of your business. For importers, this region represents one of the most
financially secure in the world, with millions of dollars monthly exchanged in
various goods. Connecting with Hong Kong companies through a reliable global
trade site or supply chain network can put you in touch with the product you need at
a cost that suits your budget.