Browse Data and Analysis

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.

Ample opportunities exist for U.S. agricultural exports to South Korea. Highlighted in the chart above, U.S. agricultural product exports were a record $9.5 billion in 2022, up 2 percent from 2021. South Korea is the sixth largest export market for the United States, thanks in part to a successful free trade agreement (KORUS) between the two countries and a robust demand for high-quality U.S. food products.

Japan has a well-developed food retail market that demands high-quality, high-value agricultural and food products. Despite reduced economic activity during the COVID-19 pandemic, trade data show that agricultural imports have remained resilient.

In 2019, Macau’s retail food sector sales rose 7.3 percent to US$613 million, a positive growth trend forecast to continue, especially in segments where U.S. products have strong prospects...

On February 18, 2020, China announced a new round of tariff exclusions for U.S. agricultural commodities impacted by the retaliatory Section 301-tariffs levied by China.

On February 6, 2020, the State Council Tariff Commission announced that China would cut in half the additional tariffs for certain commodities from the United States on February 14, 2020.

Agricultural trade with Taiwan is being impacted by new quarantine measures, port closures, vessel delays, and suspended flights as U.S. agribusiness exporters struggle to find available space....

Japan is the fourth largest market for U.S. exporters of food and agricultural products.

New Zealand imported a record number US$ 535 million of food and agricultural products from the United States in 2018, representing approximately 10 percent of total food imports.

Cross-border e-commerce (CBEC) provides U.S. exporters with a growing retail channel to reach Chinese consumers.

Following seven consecutive years of growth, Japan’s hotel, restaurant, and institutional (HRI) food service industry achieved record sales of ¥33.1 trillion ($299.8 billion) in 2018.

On August 23, 2019, the People’s Republic of China’s Ministry of Finance (MOF), State Council Tariff Commission (SCTC) announced new tariffs on certain U.S. products, valued at $75 billion USD.