Hong Kong SAR, China - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Oil Price in Hong Kong SAR - 2022
Contents:
- Crude Oil Price in Hong Kong SAR (CIF) - 2022
- Crude Oil Price in Hong Kong SAR (FOB) - 2022
- Crude Oil Imports in Hong Kong SAR
- Crude Oil Exports in Hong Kong SAR
Crude Oil Price in Hong Kong SAR (CIF) - 2022
In 2022, the average crude oil import price amounted to $393 per ton, reducing by -48.6% against the previous year. Over the period under review, the import price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of 84% against the previous year. As a result, import price attained the peak level of $765 per ton, and then shrank markedly in the following year.
As there is only one major supplying country, the average price level is determined by prices for Canada.
From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +14.8% per year.
Crude Oil Price in Hong Kong SAR (FOB) - 2022
The average crude oil export price stood at $3,518 per ton in 2022, picking up by 77% against the previous year. In general, the export price recorded a resilient increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 308%. The export price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($5,864 per ton), while the average price for exports to the Netherlands totaled $684 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Solomon Islands (+34.3%), while the prices for the other major destinations experienced a decline.
Crude Oil Imports in Hong Kong SAR
In 2022, the amount of crude petroleum oil imported into Hong Kong SAR soared to 459K tons, rising by 73% compared with the previous year. Overall, imports saw significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 783%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, crude oil imports reduced to $181M in 2022. Over the period under review, imports posted significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 620% against the previous year.
| Import of Crude Oil in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | N/A | 58.3 | 112 | 181 | 76.2% |
| Russia | N/A | 99.8 | 1.2 | N/A | -98.8% |
| Norway | 22.0 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | 89.8 | N/A | 0% |
| Total | 22.0 | 158 | 203 | 181 | 101.9% |
Top Suppliers of Crude Oil to Hong Kong SAR in 2022:
- Canada (459.4K tons)
Crude Oil Exports in Hong Kong SAR
In 2022, the amount of crude petroleum oil exported from Hong Kong SAR shrank notably to 59 tons, which is down by -43.5% against the previous year's figure. In general, exports faced a abrupt decrease. The growth pace was the most rapid in 2021 when exports increased by 62%.
In value terms, crude oil exports reached $209K in 2022. Over the period under review, exports saw a relatively flat trend pattern.
| Export of Crude Oil in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | N/A | N/A | N/A | 191 | 0% |
| Netherlands | N/A | N/A | 56.2 | 18.4 | -67.3% |
| Fiji | 210 | N/A | N/A | N/A | 0% |
| South Korea | 0.2 | 209 | 149 | N/A | 2629.5% |
| Others | N/A | N/A | 3.3 | N/A | 0% |
| Total | 210 | 209 | 209 | 209 | -0.2% |
Top Export Markets for Crude Oil from Hong Kong SAR in 2022:
- Belgium (32.5 tons)
- Netherlands (26.9 tons)
This report provides an in-depth analysis of the crude oil market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the crude oil market in Hong Kong SAR, China.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in Hong Kong SAR, China.
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This report provides an in-depth analysis of the global crude oil market.
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This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
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This report provides an in-depth analysis of the crude oil market in Hong Kong SAR, China.
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This report provides an in-depth analysis of the market for crude oil and processed petroleum in Hong Kong SAR, China.
408
This report provides an in-depth analysis of the global crude oil market.
133
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
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Explore the top import markets for crude oil and examine key statistics related to their import value. China, the United States, and India lead the pack.
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Explore the top import markets for crude oil and examine key statistics related to their import value. China, the United States, and India lead the pack.
