Hong Kong SAR, China: Articles Of Peat Market 2024

Articles Of Peat Market Size in Hong Kong SAR, China

The Hong Kong articles of peat market contracted to $X in 2022, with a decrease of -5.1% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Articles Of Peat Production in Hong Kong SAR, China

In value terms, articles of peat production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 15%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Articles Of Peat Exports

Exports from Hong Kong SAR, China

After two years of growth, shipments abroad of articles of peat decreased by -75.8% to X tons in 2022. In general, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2020 when exports increased by 1,152% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted markedly in the following year.

In value terms, articles of peat exports contracted sharply to $X in 2022. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 805% against the previous year. The exports peaked at $X in 2021, and then plummeted in the following year.

Exports by Country

Barbados (X tons) was the main destination for articles of peat exports from Hong Kong SAR, accounting for a 75% share of total exports. Moreover, articles of peat exports to Barbados exceeded the volume sent to the second major destination, Switzerland (X kg), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to Barbados totaled +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+68.6% per year) and Turkey (+135.3% per year).

In value terms, Turkey ($X) emerged as the key foreign market for articles of peat exports from Hong Kong SAR, comprising 51% of total exports. The second position in the ranking was taken by Barbados ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey stood at +103.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Barbados (+53.9% per year) and Switzerland (+28.0% per year).

Export Prices by Country

The average articles of peat export price stood at $X per ton in 2022, with an increase of 193% against the previous year. In general, the export price enjoyed buoyant growth. The pace of growth was the most pronounced in 2014 an increase of 224%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Barbados ($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 Barbados (+18.1%), while the prices for the other major destinations experienced a decline.

Articles Of Peat Imports

Imports into Hong Kong SAR, China

In 2022, after three years of decline, there was significant growth in supplies from abroad of articles of peat, when their volume increased by 425% to X tons. In general, imports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by 488%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, articles of peat imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 739%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X kg), Germany (X kg) and the Netherlands (X kg) were the main suppliers of articles of peat imports to Hong Kong SAR, together comprising 96% of total imports. The UK lagged somewhat behind, comprising a further 2.9%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +42.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest articles of peat suppliers to Hong Kong SAR were the Netherlands ($X), the UK ($X) and Germany ($X), with a combined 73% share of total imports.

The Netherlands, with a CAGR of +36.7%, recorded the highest growth rate of 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

In 2022, the average articles of peat import price amounted to $X per ton, which is down by -20.8% against the previous year. Overall, the import price, however, saw a buoyant increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 54%. As a result, import price reached the peak level of $X per ton, and then declined markedly in the following year.

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 UK ($X per ton), while the price for China ($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 Netherlands (+18.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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