Browse Data and Analysis

This report serves as an update to FAS Jakarta’s previous report outlining Indonesia’s plans to impose a 12-percent value-added tax (VAT) for luxury agricultural products (please see GAIN Report ID2024-0053).

In 2023, Hong Kong was the 17th-largest market for U.S. agricultural products globally. That same year, the United States exported $1.5 billion of agricultural products and was the third-largest supplier of consumer-oriented food products to Hong Kong after China and Australia.

This annual report includes information on U.S. and global imports of dairy products, including maximum quantities that can be imported under tariff-rate quota licensing.

Korean imports of cheese products continue to grow, seeing a five percent compound annual growth rate over the last five years. Mozzarella is the most imported cheese product and the United States is the leading supplier of cheese to Korea.