Price for Petroleum Gases and Other Gaseous Hydrocarbons in Hong Kong SAR - 2023

Contents:

1. Price for Petroleum Gases and Other Gaseous Hydrocarbons in Hong Kong SAR (CIF) - 2022
2. Price for Petroleum Gases and Other Gaseous Hydrocarbons in Hong Kong SAR (FOB) - 2022
3. Imports of Petroleum Gases and Other Gaseous Hydrocarbons in Hong Kong SAR
4. Exports of Petroleum Gases and Other Gaseous Hydrocarbons in Hong Kong SAR

Price for Petroleum Gases and Other Gaseous Hydrocarbons in Hong Kong SAR (CIF) - 2022

In 2022, the average import price for petroleum gases and other gaseous hydrocarbonses amounted to $645 per ton, increasing by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The import price peaked at $658 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.6% per year.

Price for Petroleum Gases and Other Gaseous Hydrocarbons in Hong Kong SAR (FOB) - 2022

In 2022, the average export price for petroleum gases and other gaseous hydrocarbonses amounted to $1,193 per ton, which is down by -36.7% against the previous year. In general, the export price, however, saw a modest expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 81%. The export price peaked at $2,613 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($1,811 per ton), while the average price for exports to Nigeria ($325 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 Malaysia (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Gases and Other Gaseous Hydrocarbons in Hong Kong SAR

In 2022, overseas purchases of petroleum gases and other gaseous hydrocarbonses decreased by -6.5% to 3.8M tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +11.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 50%. As a result, imports attained the peak of 4.2M tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of petroleum gases and other gaseous hydrocarbonses surged to $2.5B in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +17.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.9% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 29% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to continue growth in years to come.

Top Suppliers of Petroleum Gases and Other Gaseous Hydrocarbons to Hong Kong SAR in 2022:

1. China (3.8M tons)

Exports of Petroleum Gases and Other Gaseous Hydrocarbons in Hong Kong SAR

Exports of petroleum gases and other gaseous hydrocarbonses from Hong Kong SAR skyrocketed to 444 tons in 2022, rising by 153% compared with the year before. Overall, exports posted a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of petroleum gases and other gaseous hydrocarbonses surged to $530K in 2022. In general, exports, however, showed a drastic downturn.

Top Export Markets for Petroleum Gases and Other Gaseous Hydrocarbons from Hong Kong SAR in 2022:

1. Nigeria (143.0 tons)
2. China (89.0 tons)
3. South Korea (79.0 tons)
4. Vietnam (51.0 tons)
5. Taiwan (Chinese) (36.0 tons)
6. Macao SAR (20.0 tons)
7. Malaysia (10.0 tons)

Source: IndexBox Market Intelligence Platform