Hong Kong SAR, China: Market for Jute And Jute-Like Fibers 2022

Market Size for Jute And Jute-Like Fibers in Hong Kong SAR, China

After three years of decline, the Hong Kong jute and jute-like fibers market increased by X% to $X in 2021. In general, consumption, however, recorded a abrupt setback. Jute and jute-like fibers consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Jute And Jute-Like Fibers in Hong Kong SAR, China

In value terms, jute and jute-like fibers production rose markedly to $X in 2021 estimated in export price. Overall, production recorded a noticeable reduction. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Jute and jute-like fibers production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

The average yield of jute and jute-like fibers in Hong Kong SAR amounted to less than X kg per ha in 2021, leveling off at the previous year. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of jute and jute-like fibers production in Hong Kong SAR was estimated at less than X ha, almost unchanged from the previous year's figure. In general, the harvested area showed a relatively flat trend pattern.

Exports of Jute And Jute-Like Fibers

Exports from Hong Kong SAR, China

In 2021, shipments abroad of jute and jute-like fibers decreased by -X% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports, however, showed significant growth. The pace of growth was the most pronounced in 2020 when exports increased by X%. As a result, the exports attained the peak of X tons, and then fell significantly in the following year.

In value terms, jute and jute-like fibers exports contracted to $X in 2021. Over the period under review, exports, however, saw prominent growth. The pace of growth was the most pronounced in 2015 with an increase of X%. The exports peaked at $X in 2020, and then dropped in the following year.

Exports by Country

The UK (X tons) was the main destination for jute and jute-like fibers exports from Hong Kong SAR, with a X% share of total exports. Moreover, jute and jute-like fibers exports to the UK exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was taken by Samoa (X kg), with a X% share.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Samoa (+X% per year).

In value terms, the UK ($X) emerged as the key foreign market for jute and jute-like fibers exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Samoa ($X), with a X% share of total exports. It was followed by Denmark, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Samoa (+X% per year) and Denmark (+X% per year).

Export Prices by Country

The average jute and jute-like fibers export price stood at $X per ton in 2021, picking up by X% against the previous year. Overall, the export price, however, showed a deep slump. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Samoa ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Samoa (+X%), while the prices for the other major destinations experienced a decline.

Imports of Jute And Jute-Like Fibers

Imports into Hong Kong SAR, China

In 2021, after three years of growth, there was significant decline in purchases abroad of jute and jute-like fibers, when their volume decreased by -X% to X tons. Over the period under review, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, jute and jute-like fibers imports surged to $X in 2021. Overall, imports recorded a perceptible decline. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Bangladesh (X tons) was the main jute and jute-like fibers supplier to Hong Kong SAR, with a X% share of total imports. Moreover, jute and jute-like fibers imports from Bangladesh exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bangladesh totaled +X%.

In value terms, the largest jute and jute-like fibers suppliers to Hong Kong SAR were China ($X) and Bangladesh ($X terms of the main suppliers, China, with a CAGR of +X%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average jute and jute-like fibers import price stood at $X per ton in 2021, jumping by X% against the previous year. Overall, the import price posted a prominent increase. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Bangladesh totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-X%).

Source: IndexBox Platform