Hong Kong is an autonomous territory on the southern coast of China at the Pearl River Estuary and the South China Sea. Hong Kong is known for its skyline and deep natural harbour. It covers an area of 426 square miles, and shares its northern border with the China’s Guangdong Province. With a population of about 7.2 million, Hong Kong is one of the world’s most densely populated regions. Considering this thriving population, it’s worth your while to learn more about how to export from the US to Hong Kong.
One of the world’s leading international financial centres, Hong Kong has a major capitalist service economy characterized by low taxation and free trade. It has one of the greatest concentrations of corporate headquarters in the Asia-Pacific region. The Hong Kong Stock Exchange is the seventh-largest in the world. The territory has little arable land and few natural resources, so it imports most of its food and raw materials?imports account for more than 90 percent of Hong Kong’s food supply.
Hong Kong’s economy is dominated by the service sector, which accounts for over 90 percent of its GDP. Hong Kong is the world’s 11th-largest trading entity, with the total value of imports and exports exceeding its GDP. It is also the largest re-export centre in the world. A plan to export from the US to Hong Kong should be part of your business development strategy.
How large will your volume of goods be when you are shipping a container to Hong Kong? This is an important question, as you’ll have two transport options-a full container load (FCL) or groupage (LCL). Your decision will depend on the size of your shipment.
If your shipping volume is equal to at least half of a container-six standard pallets-then a full container load (FCL) will be your best option. A 20-foot container carries 10 standard pallets, while a 40-foot container can take 22 standard pallets.
If your shipment is smaller, FCL is still your best option if you are concerned about any potential risk of damage to your goods that could be caused by contact with other exporters’ goods.
Otherwise, a shared container (LCL), known as groupage, offers a cost-effective alternative that will see you pay only for the space you need. Consult iContainers for rates and other important information.
The Port of Hong Kong, managed by the Hong Kong Marine Department, is a deep-water port dominated by trade in containerized manufactured products, raw materials, and passengers. The natural shelter and deep waters of Victoria Harbour provide ideal conditions for the berthing and handling of all types of ships. It is one of the busiest ports in the world, in terms of shipping movements, cargo handled, and passengers carried. There are currently nine container terminals situated at Kwai Chung, Stonecutters Island and Tsing Yi. Substantial container throughput is handled by the River Trade Terminal at Tuen Mun.
If you are working against a short deadline or your shipment is urgent, air freight may be more appropriate for you than ocean freight. As air freight does impose some limitations in terms of volume and weight, check the iContainers calculator to help you determine whether this is the right option for you.