Hong Kong SAR, China - Crude Oil and Processed Petroleum - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Crude Oil and Processed Petroleum in Hong Kong SAR - 2023
Contents:
- Price for Crude Oil and Processed Petroleum in Hong Kong SAR (CIF) - 2022
- Price for Crude Oil and Processed Petroleum in Hong Kong SAR (FOB) - 2022
- Imports of Crude Oil and Processed Petroleum in Hong Kong SAR
- Exports of Crude Oil and Processed Petroleum in Hong Kong SAR
Price for Crude Oil and Processed Petroleum in Hong Kong SAR (CIF) - 2022
The average import price for crude oil and processed petroleum stood at $385 per ton in 2022, almost unchanged from the previous year. Overall, the import price showed a drastic downturn. The pace of growth was the most pronounced in 2017 when the average import price increased by 59%. Over the period under review, average import prices attained the maximum at $923 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($501 per ton), while the price for Malaysia ($226 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-5.9%), while the prices for the other major suppliers experienced a decline.
Price for Crude Oil and Processed Petroleum in Hong Kong SAR (FOB) - 2022
The average export price for crude oil and processed petroleum stood at $1,425 per ton in 2022, rising by 31% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 47% against the previous year. Over the period under review, the average export prices attained the peak figure at $1,447 per ton in 2013; afterwards, it flattened through to 2022.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($2,105 per ton), while the average price for exports to Macao SAR ($994 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Crude Oil and Processed Petroleum in Hong Kong SAR
In 2022, crude oil and processed petroleum imports into Hong Kong SAR skyrocketed to 32M tons, with an increase of 27% compared with the previous year's figure. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +10.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 31% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, crude oil and processed petroleum imports soared to $12.2B in 2022. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 32%.
Import of Crude Oil and Processed Petroleum in Hong Kong SAR (Billion USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 6.8 | 4.0 | 4.2 | 6.8 | 0.0% |
Singapore | 2.5 | 1.2 | 1.5 | 1.2 | -21.7% |
South Korea | 1.1 | 0.6 | 0.7 | 0.8 | -10.1% |
Malaysia | 0.3 | 0.3 | 0.3 | 0.6 | 26.0% |
Japan | 0.4 | 0.1 | 0.1 | 0.3 | -9.1% |
Brazil | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
Taiwan (Chinese) | 0.7 | 0.5 | 0.2 | 0.2 | -34.1% |
Others | 0.5 | 0.6 | 2.5 | 2.1 | 61.3% |
Total | 12.4 | 7.3 | 9.7 | 12.2 | -0.5% |
Top Suppliers of Crude Oil and Processed Petroleum to Hong Kong SAR in 2022:
- China (16.0M tons)
- Singapore (3.2M tons)
- Malaysia (2.4M tons)
- South Korea (1.8M tons)
- Taiwan (Chinese) (0.9M tons)
- Japan (0.6M tons)
- Brazil (0.5M tons)
Exports of Crude Oil and Processed Petroleum in Hong Kong SAR
Crude oil and processed petroleum exports from Hong Kong SAR fell to 529K tons in 2022, waning by -9.2% compared with the year before. Over the period under review, exports showed a abrupt decrease. The smallest decline of -8.4% was in 2021.
In value terms, crude oil and processed petroleum exports skyrocketed to $754M in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +6.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 35%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.
Export of Crude Oil and Processed Petroleum in Hong Kong SAR (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 315 | 246 | 347 | 382 | 6.6% |
Japan | 74.2 | 46.7 | 83.3 | 89.4 | 6.4% |
South Korea | 9.1 | 6.4 | 18.1 | 66.4 | 94.0% |
Australia | 10.5 | 10.3 | 16.6 | 36.4 | 51.3% |
Taiwan (Chinese) | 16.9 | 19.1 | 23.9 | 27.7 | 17.9% |
Macao SAR | 82.8 | 34.3 | 31.1 | 27.7 | -30.6% |
United States | N/A | 12.3 | 33.3 | 23.0 | 36.7% |
Singapore | 52.5 | 40.8 | 26.8 | 16.4 | -32.1% |
India | 13.0 | 16.3 | 11.7 | 4.4 | -30.3% |
Thailand | 13.3 | 11.5 | 12.0 | 4.3 | -31.4% |
Others | 34.0 | 27.4 | 31.1 | 76.0 | 30.8% |
Total | 621 | 471 | 635 | 754 | 6.7% |
Top Export Markets for Crude Oil and Processed Petroleum from Hong Kong SAR in 2022:
- China (274.0K tons)
- Japan (73.4K tons)
- South Korea (50.0K tons)
- Australia (30.1K tons)
- Macao SAR (27.8K tons)
- Taiwan (Chinese) (15.2K tons)
- United States (13.8K tons)
- Singapore (7.8K tons)
- Thailand (3.2K tons)
- India (2.9K tons)
This report provides an in-depth analysis of the market for crude oil and processed petroleum 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
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Hong Kong SAR, China.
This report provides an in-depth analysis of the crude oil market in Hong Kong SAR, China.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
This report provides an in-depth analysis of the global crude oil market.
This report provides an in-depth analysis of the market for crude oil and processed petroleum in Hong Kong SAR, China.
This report provides an in-depth analysis of the crude oil market in Hong Kong SAR, China.
This report provides an in-depth analysis of the global market for crude oil and processed petroleum.
This report provides an in-depth analysis of the global crude oil market.
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.
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.