Hong Kong SAR, China: Leather Market 2024

Leather Market Size in Hong Kong SAR, China

In 2022, the Hong Kong leather market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, faced a abrupt setback. Leather consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Leather Production in Hong Kong SAR, China

In value terms, leather production rose notably to $X in 2022 estimated in export price. In general, the total production indicated prominent growth 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Leather production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Leather Exports

Exports from Hong Kong SAR, China

Leather exports from Hong Kong SAR shrank dramatically to X square meters in 2022, which is down by X% against 2021. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 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, leather exports dropped sharply to $X in 2022. Overall, exports recorded a abrupt setback. 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 attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China (X square meters) was the main destination for leather exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, leather exports to China exceeded the volume sent to the second major destination, Vietnam (X square meters), more than tenfold. The third position in this ranking was held by Indonesia (X square meters), with a X% share.

From 2012 to 2021, 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: Vietnam (X% per year) and Indonesia (X% per year).

In value terms, China ($X) remains the key foreign market for leather exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with an X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2021, the average leather export price amounted to $X per square meter, which is down by X% against the previous year. In general, the export price continues to indicate a mild descent. The growth pace was the most rapid in 2019 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per square meter in 2013; however, from 2014 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, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per square meter), while the average price for exports to China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Imports

Imports into Hong Kong SAR, China

In 2022, the amount of leather imported into Hong Kong SAR shrank remarkably to X square meters, dropping by X% on 2021. In general, imports faced a deep setback. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at X square meters in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, leather imports reduced sharply to $X in 2022. Overall, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X square meters), Brazil (X square meters) and Italy (X square meters) were the main suppliers of leather imports to Hong Kong SAR, with a combined X% share of total imports. Vietnam, Turkey, Thailand, India, Argentina, Taiwan (Chinese), South Korea, Pakistan, the United States and Kenya lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), Italy ($X) and Thailand ($X) appeared to be the largest leather suppliers to Hong Kong SAR, with a combined X% share of total imports. Vietnam, Brazil, India, Argentina, South Korea, Taiwan (Chinese), Pakistan, Turkey, the United States and Kenya lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average leather import price amounted to $X per square meter, reducing by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per square meter in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per square meter), while the price for Kenya ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :