Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR - 2023
Contents:
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR (CIF) - 2022
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR (FOB) - 2023
- Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR
- Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR (CIF) - 2022
The average import price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $89 per unit in 2022, growing by 10% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 25%. The import price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($233 per unit), while the price for Vietnam ($37 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR (FOB) - 2023
The average export price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $152 per unit in November 2023, with an increase of 46% against the previous month. Overall, export price indicated mild growth from November 2022 to November 2023: its price increased at an average monthly rate of +1.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for refrigerating or freezing equipment; parts thereof, other than furniture increased by +46.2% against October 2023 indices. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 87% month-to-month. As a result, the export price reached the peak level of $252 per unit. From February 2023 to November 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In November 2023, the country with the highest price was Russia ($287 per unit), while the average price for exports to the United States ($58.2 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR
In 2022, imports of refrigerating or freezing equipment; parts thereof, other than furniture into Hong Kong SAR fell dramatically to 632K units, with a decrease of -16.3% on the year before. Overall, imports showed a sharp decrease. The pace of growth was the most pronounced in 2021 when imports increased by 9.4% against the previous year. Imports peaked at 1.3M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture declined to $56M in 2022. In general, imports faced a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 7.3% against the previous year. Imports peaked at $83M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 43.0 | 22.3 | 29.0 | 34.5 | -7.1% |
| Japan | 13.2 | 18.0 | 13.0 | 6.3 | -21.9% |
| Singapore | 7.6 | 2.4 | 2.7 | 2.3 | -32.9% |
| Taiwan (Chinese) | 2.3 | 1.9 | 2.3 | 2.1 | -3.0% |
| United States | 6.3 | 3.0 | 3.7 | 2.0 | -31.8% |
| Thailand | 1.7 | 1.1 | 0.5 | 1.9 | 3.8% |
| Vietnam | 1.8 | 1.3 | 2.2 | 1.6 | -3.9% |
| Others | 6.9 | 6.4 | 7.1 | 5.2 | -9.0% |
| Total | 82.7 | 56.4 | 60.5 | 56.0 | -12.2% |
Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Hong Kong SAR in 2022:
- China (395.4K units)
- Taiwan (Chinese) (45.9K units)
- Vietnam (44.4K units)
- Thailand (34.8K units)
- Japan (26.8K units)
- Singapore (20.7K units)
- United States (15.0K units)
Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR
In 2022, exports of refrigerating or freezing equipment; parts thereof, other than furniture from Hong Kong SAR declined remarkably to 285K units, with a decrease of -42.3% on the previous year. Over the period under review, exports recorded a significant curtailment. The smallest decline of -22.8% was in 2021. The exports peaked at 1M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture dropped markedly to $43M in 2022. In general, exports faced a dramatic decline. The smallest decline of -13.3% was in 2021. The exports peaked at $107M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 58.4 | 48.4 | 35.8 | 20.5 | -29.5% |
| Singapore | 9.7 | 11.4 | 13.6 | 9.2 | -1.7% |
| Thailand | 2.5 | 3.1 | 3.8 | 3.6 | 12.9% |
| United States | 18.8 | 6.1 | 7.0 | 2.3 | -50.4% |
| Mexico | 5.5 | 4.1 | 5.5 | 1.3 | -38.2% |
| Japan | 1.3 | 0.7 | 0.8 | 0.6 | -22.7% |
| Netherlands | 0.6 | 0.5 | 0.7 | 0.5 | -5.9% |
| Malaysia | 0.6 | 0.7 | 0.5 | 0.4 | -12.6% |
| Others | 9.4 | 8.9 | 5.4 | 5.0 | -19.0% |
| Total | 107 | 84.2 | 73.0 | 43.4 | -26.0% |
Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Hong Kong SAR in 2022:
- China (150.2K units)
- Singapore (30.4K units)
- United States (19.7K units)
- Mexico (19.0K units)
- Thailand (15.5K units)
- Netherlands (6.9K units)
- Malaysia (5.8K units)
- Japan (5.7K units)
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