Hong Kong SAR, China: Platinum Market 2024

Platinum Market Size in Hong Kong SAR, China

The Hong Kong platinum market reduced slightly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption recorded a pronounced reduction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Platinum Production in Hong Kong SAR, China

In value terms, platinum production dropped to $X in 2022 estimated in export price. In general, production showed a noticeable descent. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Platinum production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Platinum Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of platinum decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, platinum exports shrank notably to $X in 2022. In general, exports, however, posted strong growth. The growth pace was the most rapid in 2020 with an increase of X%. The exports peaked at $X in 2021, and then reduced notably in the following year.

Exports by Country

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

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

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

From 2012 to 2022, 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: Switzerland (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average platinum export price amounted to $X per kg, reducing by X% against the previous year. In general, the export price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per kg in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($X per kg) and Switzerland ($X per kg), while the average price for exports to the United Arab Emirates ($X per kg) and China ($X per kg) were amongst the lowest.

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

Platinum Imports

Imports into Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in supplies from abroad of platinum, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, platinum imports plummeted to $X in 2022. In general, imports showed a slight descent. 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 remained at a lower figure.

Imports by Country

The UK (X tons), South Africa (X tons) and Japan (X tons) were the main suppliers of platinum imports to Hong Kong SAR, together accounting for X% of total imports. Switzerland, Russia and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest platinum suppliers to Hong Kong SAR were the UK ($X), South Africa ($X) and Japan ($X), together comprising X% of total imports. Switzerland, Russia and the United States lagged somewhat behind, together accounting for a further X%.

Russia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average platinum import price stood at $X per kg in 2022, dropping by X% against the previous year. Overall, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked at $X per kg in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Africa ($X per kg) and Japan ($X per kg), while the price for the United States ($X per kg) and the UK ($X per kg) were amongst the lowest.

From 2012 to 2022, 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 mixed trend patterns.

Source: IndexBox Platform

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