Hong Kong SAR, China: Carpet Market 2023

Carpet Market Size in Hong Kong SAR, China

In 2022, the Hong Kong carpet market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, showed a deep contraction. Over the period under review, the market attained the maximum level 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 fell to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible descent. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Carpet Exports

Exports from Hong Kong SAR, China

In 2022, carpet exports from Hong Kong SAR declined notably to X square meters, reducing by X% compared with the previous year's figure. Over the period under review, exports faced a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X square meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, carpet exports contracted to $X in 2022. In general, exports faced a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

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, with a combined X% share 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) appeared to be 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 accounting for a further X%.

In terms of the main countries of destination, Timor-Leste, with a CAGR of X%, recorded 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

The average carpet export price stood at $X per square meter in 2022, rising by X% against the previous year. In general, the export price, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. The export price peaked at $X per square meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, 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

In 2022, the amount of carpets and other textile floor coverings imported into Hong Kong SAR contracted slightly to X square meters, with a decrease of X% on the previous year's figure. Over the period under review, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X square meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, carpet imports declined to $X in 2022. Overall, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of carpet to Hong Kong SAR, accounting for 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 totaled 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 ($X) constituted the largest supplier of carpets and other textile floor coverings to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by Thailand ($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 growth rate of value from China totaled 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

In 2022, the average carpet import price amounted to $X per square meter, standing approx. at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per square meter in 2016; however, from 2017 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 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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