Price for Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR - 2023
Contents:
- Price for Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR (FOB) - 2023
- Price for Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR (CIF) - 2022
- Exports of Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR
- Imports of Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR
Price for Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR (FOB) - 2023
In November 2023, the average export price for textiles; worn clothing and other worn articleses amounted to $949 per ton, declining by -4.1% against the previous month. Overall, the export price saw a perceptible downturn. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 36% against the previous month. As a result, the export price attained the peak level of $1,819 per ton. From March 2023 to November 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In November 2023, the country with the highest price was Macao SAR ($4,594 per ton), while the average price for exports to the Philippines ($145 per ton) 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 India (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for textiles; worn clothing and other worn articleses amounted to $346 per ton, reducing by -4.7% against the previous year. In general, the import price continues to indicate a abrupt setback. The growth pace was the most rapid in 2019 when the average import price increased by 20% against the previous year. The import price peaked at $1,705 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($1,190 per ton), while the price for the Philippines ($188 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR
In 2022, the amount of textiles; worn clothing and other worn articleses exported from Hong Kong SAR skyrocketed to 15K tons, with an increase of 29% compared with the previous year. Over the period under review, exports, however, saw a abrupt setback.
In value terms, exports of textiles; worn clothing and other worn articleses soared to $23M in 2022. In general, exports posted a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 69% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 0.8 | 1.1 | 5.8 | 9.2 | 125.7% |
| Philippines | 5.6 | 1.8 | 4.1 | 4.7 | -5.7% |
| Thailand | 1.8 | 1.3 | 1.1 | 1.4 | -8.0% |
| Australia | 0.5 | 0.6 | 1.2 | 1.3 | 37.5% |
| Vietnam | 1.9 | 0.1 | N/A | 0.6 | -31.9% |
| South Korea | 0.8 | 1.2 | N/A | 0.6 | -9.1% |
| Malaysia | 0.9 | 0.4 | 0.3 | 0.5 | -17.8% |
| Others | 3.4 | 3.3 | 3.8 | 4.4 | 9.0% |
| Total | 15.7 | 9.7 | 16.3 | 22.8 | 13.2% |
Top Export Markets for Textiles; Worn Clothing and Other Worn Articles from Hong Kong SAR in 2022:
- Philippines (5.5K tons)
- United Kingdom (3.2K tons)
- Vietnam (2.4K tons)
- Thailand (1.1K tons)
- South Korea (0.6K tons)
- Malaysia (0.5K tons)
- Australia (0.4K tons)
Imports of Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR
In 2022, approx. 24K tons of textiles; worn clothing and other worn articleses were imported into Hong Kong SAR; picking up by 6.9% against 2021 figures. In general, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +11.8% 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 +88.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 77% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, imports of textiles; worn clothing and other worn articleses rose modestly to $8.3M in 2022. The total import value increased at an average annual rate of +3.7% over the period 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 2021 with an increase of 43%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Textiles; Worn Clothing and Other Worn Articles in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 1,095 | 794 | 2,123 | 3,133 | 42.0% |
| Japan | 1,897 | 1,884 | 1,223 | 1,271 | -12.5% |
| Malaysia | 1,233 | 634 | 1,093 | 990 | -7.1% |
| Indonesia | 201 | 466 | 1,235 | 822 | 59.9% |
| China | 450 | 696 | 464 | 434 | -1.2% |
| Macao SAR | 555 | 206 | 352 | 391 | -11.0% |
| South Korea | 915 | 326 | 1,067 | 344 | -27.8% |
| Others | 1,075 | 659 | 558 | 890 | -6.1% |
| Total | 7,422 | 5,664 | 8,115 | 8,274 | 3.7% |
Top Suppliers of Textiles; Worn Clothing and Other Worn Articles to Hong Kong SAR in 2022:
- Philippines (16.6K tons)
- Japan (2.8K tons)
- Malaysia (2.3K tons)
- Indonesia (0.7K tons)
- South Korea (0.4K tons)
- Macao SAR (0.4K tons)
- China (0.3K tons)
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