Hong Kong SAR, China: Carpet Market 2024

Carpet Market Size in Hong Kong SAR, China

In 2022, the Hong Kong carpet market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, showed a abrupt setback. Carpet consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Carpet Production in Hong Kong SAR, China

In value terms, carpet production contracted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Carpet production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Carpet Exports

Exports from Hong Kong SAR, China

In 2022, the amount of carpets and other textile floor coverings exported from Hong Kong SAR dropped notably to X square meters, with a decrease of X% on 2021. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X square meters in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, carpet exports reduced to $X in 2022. Over the period under review, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

French Polynesia (X square meters), China (X square meters) and Zimbabwe (X square meters) were the main destinations of carpet exports from Hong Kong SAR, together accounting for X% of total exports. The United States, Timor-Leste, Antigua and Barbuda, Guyana, Turkey, Macao SAR, South Korea, Singapore, France and Canada lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Timor-Leste (with a CAGR of X.5%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Turkey ($X) were the largest markets for carpet exported from Hong Kong SAR worldwide, with a combined X% share of total exports. South Korea, Macao SAR, French Polynesia, Zimbabwe, Singapore, France, Canada, Timor-Leste, Antigua and Barbuda and Guyana lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Timor-Leste, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average carpet export price amounted to $X per square meter, picking up by X% against the previous year. Overall, the export price, however, recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2020 an increase of X%. The export price peaked at $X per square meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per square meter), while the average price for exports to Antigua and Barbuda ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Carpet Imports

Imports into Hong Kong SAR, China

Carpet imports into Hong Kong SAR dropped to X square meters in 2022, shrinking by X% against the previous year's figure. Overall, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at X square meters in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, carpet imports contracted to $X in 2022. In general, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of carpet to Hong Kong SAR, with a X% share of total imports. Moreover, carpet imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X square meters), more than tenfold. Japan (X square meters) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of carpets and other textile floor coverings to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and the United States (X% per year).

Import Prices by Country

The average carpet import price stood at $X per square meter in 2022, remaining relatively unchanged against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked at $X per square meter in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per square meter), while the price for Belgium ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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