Price for Wood; Posts and Beams in Hong Kong SAR - 2021

Contents:

1. Price for Wood; Posts and Beams in Hong Kong SAR (CIF) - 2022
2. Price for Wood; Posts and Beams in Hong Kong SAR (FOB) - 2022
3. Imports of Wood; Posts and Beams in Hong Kong SAR
4. Exports of Wood; Posts and Beams in Hong Kong SAR

Price for Wood; Posts and Beams in Hong Kong SAR (CIF) - 2022

The average wood; posts and beams import price stood at $848 per ton in 2022, falling by -20.8% against the previous year. In general, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 81% against the previous year. The import price peaked at $2,042 per ton in 2013; however, from 2014 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 the United States ($7,605 per ton), while the price for China ($254 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.3%), while the prices for the other major suppliers experienced a decline.

Price for Wood; Posts and Beams in Hong Kong SAR (FOB) - 2022

In 2022, the average wood; posts and beams export price amounted to $1,560 per ton, rising by 10% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2015 an increase of 288%. As a result, the export price attained the peak level of $3,017 per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($3,205 per ton), while the average price for exports to Singapore ($330 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 Turkey (+6.9%), while the prices for the other major destinations experienced a decline.

Imports of Wood; Posts and Beams in Hong Kong SAR

In 2022, the amount of wood; posts and beamses imported into Hong Kong SAR fell dramatically to 843 tons, with a decrease of -30.3% against 2021 figures. Overall, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 1,011%. As a result, imports reached the peak of 1.2K tons, and then dropped dramatically in the following year.

In value terms, wood; posts and beams imports contracted markedly to $715K in 2022. In general, imports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 869%. As a result, imports reached the peak of $1.3M, and then reduced markedly in the following year.

Top Suppliers of Wood; Posts and Beams to Hong Kong SAR in 2022:

1. China (455.5 tons)
2. United Arab Emirates (273.6 tons)
3. United States (38.9 tons)
4. Singapore (35.6 tons)
5. Thailand (22.7 tons)

Exports of Wood; Posts and Beams in Hong Kong SAR

For the third year in a row, Hong Kong SAR recorded decline in overseas shipments of wood; posts and beamses, which decreased by -11.7% to 109 tons in 2022. Over the period under review, exports recorded a drastic downturn.

In value terms, wood; posts and beams exports declined slightly to $170K in 2022. The total export value increased at an average annual rate of +2.8% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 5.7%. As a result, the exports reached the peak of $175K, and then reduced in the following year.

Top Export Markets for Wood; Posts and Beams from Hong Kong SAR in 2022:

1. Singapore (53.8 tons)
2. Thailand (29.6 tons)
3. Canada (25.5 tons)

Source: IndexBox Market Intelligence Platform