Price for Furniture; of Bamboo or Rattan in Hong Kong SAR - 2022
Contents:
- Price for Furniture; of Bamboo or Rattan in Hong Kong SAR (FOB) - 2022
- Price for Furniture; of Bamboo or Rattan in Hong Kong SAR (CIF) - 2022
- Exports of Furniture; of Bamboo or Rattan in Hong Kong SAR
- Imports of Furniture; of Bamboo or Rattan in Hong Kong SAR
Price for Furniture; of Bamboo or Rattan in Hong Kong SAR (FOB) - 2022
The average export price for furniture; of bamboo or rattan stood at $5,871 per ton in 2022, reducing by -14.9% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, furniture; of bamboo or rattan export price increased by +42.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 68%. As a result, the export price attained the peak level of $6,900 per ton, and then dropped in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($31,093 per ton), while the average price for exports to Bangladesh ($564 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 Ireland (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Furniture; of Bamboo or Rattan in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for furniture; of bamboo or rattan amounted to $395 per ton, waning by -20.6% against the previous year. Over the period under review, the import price continues to indicate a sharp decline. The pace of growth appeared the most rapid in 2016 when the average import price increased by 115%. As a result, import price attained the peak level of $4,701 per ton. From 2017 to 2022, the average 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 the Philippines ($615 per ton), while the price for China ($187 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-16.6%), while the prices for the other major suppliers experienced a decline.
Exports of Furniture; of Bamboo or Rattan in Hong Kong SAR
In 2022, furniture; of bamboo or rattan exports from Hong Kong SAR contracted dramatically to 20 tons, shrinking by -26.3% on 2021 figures. Overall, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 135% against the previous year.
In value terms, furniture; of bamboo or rattan exports reduced dramatically to $119K in 2022. In general, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by 294%. As a result, the exports attained the peak of $191K, and then reduced sharply in the following year.
| Export of Furniture; of Bamboo or Rattan in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Tanzania | 39.2 | 16.6 | 63.9 | 46.5 | 5.9% |
| Poland | 15.4 | 6.5 | 25.1 | 18.3 | 5.9% |
| Ireland | 13.5 | 5.1 | 17.4 | 11.3 | -5.8% |
| Cyprus | 7.0 | 2.8 | 10.4 | 7.2 | 0.9% |
| Australia | 5.1 | 2.0 | 7.3 | 5.0 | -0.7% |
| Argentina | 3.7 | 1.6 | 6.1 | 4.4 | 5.9% |
| Paraguay | 3.0 | 1.3 | 4.8 | 3.5 | 5.3% |
| South Africa | 3.9 | 1.5 | 5.0 | 3.2 | -6.4% |
| United States | 5.1 | 1.7 | 5.4 | 3.2 | -14.4% |
| Maldives | 2.2 | 0.9 | 3.5 | 2.6 | 5.7% |
| Israel | 3.5 | 1.2 | 3.5 | 2.0 | -17.0% |
| Bangladesh | 1.5 | 0.6 | 2.4 | 1.7 | 4.3% |
| Trinidad and Tobago | 1.1 | 0.4 | 1.6 | 1.1 | 0.0% |
| Others | 23.7 | 6.2 | 34.0 | 9.4 | -26.5% |
| Total | 128 | 48.3 | 191 | 119 | -2.4% |
Top Export Markets for Furniture; of Bamboo or Rattan from Hong Kong SAR in 2022:
- Poland (5.6 tons)
- Bangladesh (3.1 tons)
- Australia (2.4 tons)
- Tanzania (2.0 tons)
- Argentina (1.0 tons)
- Cyprus (1.0 tons)
- Paraguay (0.7 tons)
- Maldives (0.6 tons)
- Trinidad and Tobago (0.6 tons)
- South Africa (0.4 tons)
- Ireland (0.4 tons)
- Israel (0.3 tons)
- United States (0.3 tons)
Imports of Furniture; of Bamboo or Rattan in Hong Kong SAR
In 2022, the amount of furniture; of bamboo or rattan imported into Hong Kong SAR skyrocketed to 41 tons, surging by 23% compared with the previous year's figure. Overall, imports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 63% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.
In value terms, furniture; of bamboo or rattan imports dropped to $16K in 2022. The total import value increased at an average annual rate of +2.2% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 4.4%. As a result, imports attained the peak of $17K, and then reduced modestly in the following year.
| Import of Furniture; of Bamboo or Rattan in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 5.9 | 5.8 | 5.6 | 5.0 | -5.4% |
| China | 4.7 | 4.6 | 4.4 | 4.0 | -5.2% |
| United Kingdom | 1.0 | 1.3 | 1.8 | 2.3 | 32.0% |
| Thailand | 1.9 | 2.1 | 2.3 | 2.2 | 5.0% |
| Philippines | 0.3 | 0.4 | 0.4 | 0.5 | 18.6% |
| Others | 1.5 | 1.8 | 2.1 | 2.4 | 17.0% |
| Total | 15.2 | 15.9 | 16.6 | 16.3 | 2.4% |
Top Suppliers of Furniture; of Bamboo or Rattan to Hong Kong SAR in 2022:
- China (21.1 tons)
- Italy (13.6 tons)
- Thailand (4.0 tons)
- Philippines (0.8 tons)
- United Kingdom (0.6 tons)
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