Report Update Apr 1, 2024

Hong Kong SAR, China - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Crude Oil Market 2024

Crude Oil Market Size in Hong Kong SAR, China

The Hong Kong crude oil market surged to $X in 2022, rising by X% against the previous year. In general, consumption, however, showed a deep contraction. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Crude Oil Production in Hong Kong SAR, China

In value terms, crude oil production stood at $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with a decrease of X% against the previous year. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the immediate term.

Crude Oil Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of crude petroleum oil were exported from Hong Kong SAR; declining by X% on 2021. Overall, exports continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crude oil exports totaled $X in 2022. Over the period under review, exports showed a sharp contraction. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X tons) and the Netherlands (X tons) were the main destinations of crude oil exports from Hong Kong SAR.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%).

In value terms, Belgium ($X) emerged as the key foreign market for crude petroleum oil exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Belgium was relatively modest.

Export Prices by Country

The average crude oil export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the Netherlands stood at $X per ton.

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

Crude Oil Imports

Imports into Hong Kong SAR, China

In 2022, the amount of crude petroleum oil imported into Hong Kong SAR skyrocketed to X tons, picking up by X% on the previous year. Overall, imports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, crude oil imports shrank to $X in 2022. Over the period under review, imports, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Canada (X tons) was the main supplier of crude oil to Hong Kong SAR, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada totaled X%.

In value terms, Canada ($X) constituted the largest supplier of crude petroleum oil to Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada totaled X%.

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price showed a noticeable curtailment. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then plummeted in the following year.

As there is only one major supplying country, the average price level is determined by prices for Canada.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude petroleum oil in the world?

The countries with the highest volumes of consumption in 2023 were the United States, China and Saudi Arabia, together comprising 43% of global consumption.

What are the largest producers of crude petroleum oil in the world?

The countries with the highest volumes of production in 2022 were the United States, Russia and Saudi Arabia, together accounting for 40% of global production.

What are the leading suppliers of crude petroleum oil to Hong Kong SAR, China?

In value terms, Canada constituted the largest supplier of crude petroleum oil to Hong Kong SAR.

What are the leading importers of crude petroleum oil from Hong Kong SAR, China?

In value terms, Belgium emerged as the key foreign market for crude petroleum oil exports from Hong Kong SAR, comprising 91% of total exports. The second position in the ranking was held by the Netherlands, with an 8.8% share of total exports.

What is the average export price for crude petroleum oil in Hong Kong SAR, China?

The average crude oil export price stood at $3,518 per ton in 2022, surging by 77% against the previous year.

What is the average import price for crude petroleum oil in Hong Kong SAR, China?

In 2022, the average crude oil import price amounted to $393 per ton, falling by -48.6% against the previous year.

This report provides an in-depth analysis of the crude oil market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023