Hong Kong SAR, China: Ball Market 2024

Ball Market Size in Hong Kong SAR, China

The Hong Kong ball market expanded sharply to $X in 2022, growing by 11% against the previous year. Over the period under review, consumption, however, showed a pronounced downturn. Ball consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Ball Production in Hong Kong SAR, China

In value terms, ball production skyrocketed to $X in 2022 estimated in export price. In general, production, however, continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 183% against the previous year. Ball production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ball Exports

Exports from Hong Kong SAR, China

In 2022, the amount of balls exported from Hong Kong SAR rose rapidly to X units, picking up by 11% compared with the previous year's figure. Over the period under review, exports, however, faced a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of 23% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ball exports expanded markedly to $X in 2022. Overall, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by 79% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), the United States (X units) and Japan (X units) were the main destinations of ball exports from Hong Kong SAR, together accounting for 77% of total exports. Germany, Switzerland, Australia, Mexico, Canada, South Korea and the UK lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +13.7%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X), China ($X) and Germany ($X) appeared to be the largest markets for ball exported from Hong Kong SAR worldwide, together accounting for 71% of total exports. Switzerland, Australia, Canada, Mexico, Japan, South Korea and the UK lagged somewhat behind, together comprising a further 12%.

Among the main countries of destination, Switzerland, with a CAGR of +13.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average ball export price amounted to $X per unit, growing by 2.5% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ball export price increased by +70.7% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 45% against the previous year. 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of balls increased by 7.4% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, faced a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by 23% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, ball imports totaled $X in 2022. In general, imports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 21% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ball to Hong Kong SAR, with a 82% share of total imports. Moreover, ball imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. The Philippines (X units) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-15.5% per year) and the Philippines (-19.4% per year).

In value terms, China ($X) constituted the largest supplier of balls to Hong Kong SAR, comprising 76% of total imports. The second position in the ranking was held by the Philippines ($X), with a 7.9% share of total imports. It was followed by Thailand, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-12.8% per year) and Thailand (-14.7% per year).

Import Prices by Country

In 2022, the average ball import price amounted to $X per unit, approximately equating the previous year. Overall, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ball import price increased by +23.3% against 2017 indices. The growth pace was the most rapid in 2017 an increase of 20% against the previous year. The import price peaked at $X per unit in 2021, and then shrank modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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