Hong Kong SAR, China: Wire And Cable Market 2024

Wire And Cable Market Size in Hong Kong SAR, China

The Hong Kong wire and cable market declined to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Wire and cable consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Wire And Cable Exports

Exports from Hong Kong SAR, China

In 2022, wire and cable exports from Hong Kong SAR dropped rapidly to X tons, which is down by X% compared with 2021 figures. In general, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wire and cable exports declined remarkably to $X in 2022. Over the period under review, exports recorded a noticeable setback. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for wire and cable exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, wire and cable exports to China exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a X% share.

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

In value terms, China ($X) remains the key foreign market for insulated wire and cable exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average wire and cable export price amounted to $X per ton, surging by X% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2022: its price 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, wire and cable export price increased by X% against 2013 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Macao SAR ($X 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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Wire And Cable Imports

Imports into Hong Kong SAR, China

In 2022, the amount of insulated wire and cable imported into Hong Kong SAR shrank notably to X tons, falling by X% against 2021 figures. In general, imports showed a abrupt descent. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, wire and cable imports reduced notably to $X in 2022. Overall, imports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest wire and cable supplier to Hong Kong SAR, with a X% share of total imports. Moreover, wire and cable imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. The UK (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and the UK (X% per year).

In value terms, China ($X) constituted the largest supplier of insulated wire and cable to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Japan, 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: the United States (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average wire and cable import price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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