Hong Kong SAR, China: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Hong Kong SAR, China

The Hong Kong household sewing machine market totaled $X in 2022, growing by X% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Household sewing machine consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Household Sewing Machine Production in Hong Kong SAR, China

In value terms, household sewing machine production dropped modestly to $X in 2022 estimated in export price. In general, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2018 indices. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Household Sewing Machine Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of household sewing machines decreased by X% to X units, falling for the second consecutive year after two years of growth. Overall, exports recorded a dramatic curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, household sewing machine exports soared to $X in 2022. Over the period under review, exports saw a abrupt downturn. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X units) was the main destination for household sewing machine exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, household sewing machine exports to Russia exceeded the volume sent to the second major destination, the United States (X units), fourfold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

In value terms, Russia ($X) emerged as the key foreign market for household sewing machines exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average household sewing machine export price amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price saw resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

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

Household Sewing Machine Imports

Imports into Hong Kong SAR, China

In 2022, household sewing machine imports into Hong Kong SAR surged to X units, increasing by X% compared with 2021. Overall, imports, however, faced a sharp reduction. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, household sewing machine imports soared to $X in 2022. In general, imports, however, showed a abrupt curtailment. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest household sewing machine supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, household sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with an X% share.

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

In value terms, China ($X) constituted the largest supplier of household sewing machines to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), 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: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average household sewing machine import price amounted to $X per unit, with an increase of X% against the previous year. In general, the import price saw a significant increase. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 Taiwan (Chinese) ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :