Hong Kong SAR, China: Way-Type Unit Head Market 2024

Way-Type Unit Head Market Size in Hong Kong SAR, China

After four years of growth, the Hong Kong way-type unit head market decreased by -31.3% to $X in 2021. Over the period under review, consumption, however, recorded a resilient increase. As a result, consumption reached the peak level of $X, and then declined remarkably in the following year.

Way-Type Unit Head Production in Hong Kong SAR, China

In value terms, way-type unit head production shrank remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 189% against the previous year. As a result, production reached the peak level of $X, and then dropped notably in the following year.

Way-Type Unit Head Exports

Exports from Hong Kong SAR, China

Way-type unit head exports from Hong Kong SAR shrank significantly to X tons in 2021, which is down by -75.7% compared with the previous year's figure. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by 118%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, way-type unit head exports shrank dramatically to $X in 2021. Over the period under review, exports faced a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 67% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for way-type unit head exports from Hong Kong SAR, with a 73% share of total exports. Moreover, way-type unit head exports to Mexico exceeded the volume sent to the second major destination, Indonesia (X kg), sevenfold. The third position in this ranking was taken by Brazil (X kg), with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico stood at +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+10.4% per year) and Brazil (-31.4% per year).

In value terms, Mexico ($X) remains the key foreign market for way-type unit heads for working metal exports from Hong Kong SAR, comprising 69% of total exports. The second position in the ranking was taken by China ($X), with a 20% share of total exports. It was followed by Malaysia, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to Mexico totaled -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-6.0% per year) and Malaysia (-30.0% per year).

Export Prices by Country

In 2021, the average way-type unit head export price amounted to $X per ton, falling by -22.3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 75% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Indonesia ($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 China (+7.3%), while the prices for the other major destinations experienced a decline.

Way-Type Unit Head Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of way-type unit heads for working metal were imported into Hong Kong SAR; growing by 355% against the year before. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 680% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, way-type unit head imports soared to $X in 2021. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 452% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest way-type unit head supplier to Hong Kong SAR, accounting for a 82% share of total imports. Moreover, way-type unit head imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), tenfold. The UK (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +63.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+22.9% per year) and the UK (+116.9% per year).

In value terms, the United States ($X) constituted the largest supplier of way-type unit heads for working metal to Hong Kong SAR, comprising 81% of total imports. The second position in the ranking was taken by the UK ($X), with a 15% share of total imports. It was followed by South Korea, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+63.6% per year) and South Korea (+2.8% per year).

Import Prices by Country

The average way-type unit head import price stood at $X per ton in 2021, shrinking by -36.6% against the previous year. Overall, the import price faced a drastic downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 44%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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