Hong Kong SAR, China: Market for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers 2024

Market Size for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Hong Kong SAR, China

After two years of growth, the Hong Kong spindles and spindle flyer market decreased by X% to $X in 2022. Overall, consumption recorded a deep downturn. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Hong Kong SAR, China

In value terms, spindles and spindle flyer production totaled $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume decreased by X% against the previous year. Spindles and spindle flyer production peaked in 2022 and is likely to see steady growth in years to come.

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Exports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Exports from Hong Kong SAR, China

In 2022, approx. X tons of spindles and spindle flyers, spinning ring and ring travellers were exported from Hong Kong SAR; which is down by X% on the previous year. In general, exports, however, enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, spindles and spindle flyer exports declined to $X in 2022. Overall, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for spindles and spindle flyer exports from Hong Kong SAR, with a X% share of total exports. Moreover, spindles and spindle flyer exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The UK (X tons) ranked third in terms of total exports 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: Vietnam (X% per year) and the UK (X% per year).

In value terms, China ($X) remains the key foreign market for spindles and spindle flyers, spinning ring and ring travellers exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by the UK ($X), with a X% share of total exports. It was followed by Vietnam, 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 UK (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average spindles and spindle flyer export price stood at $X per ton in 2022, growing by X% against the previous year. In general, export price indicated a strong 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, spindles and spindle flyer export price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. The export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the United States ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Imports into Hong Kong SAR, China

In 2022, the amount of spindles and spindle flyers, spinning ring and ring travellers imported into Hong Kong SAR contracted notably to X tons, dropping by X% against the previous year. Over the period under review, imports recorded a perceptible setback. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, spindles and spindle flyer imports contracted sharply to $X in 2022. In general, total imports indicated a tangible expansion 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, imports decreased by X% against 2018 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

The United States (X tons), India (X tons) and China (X kg) were the main suppliers of spindles and spindle flyer imports to Hong Kong SAR.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of spindles and spindle flyers, spinning ring and ring travellers to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

Import Prices by Country

The average spindles and spindle flyer import price stood at $X per ton in 2022, growing by X% against the previous year. In general, import price indicated a prominent expansion 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, spindles and spindle flyer import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

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 ($X per ton), while the price for China ($X per ton) was 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 more modest paces of growth.

Source: IndexBox Platform

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