Hong Kong SAR, China: Braces And Garters Market 2024

Braces And Garters Market Size in Hong Kong SAR, China

The Hong Kong braces and garters market soared to $X in 2022, picking up by 3,438% against the previous year. In general, consumption saw a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Braces And Garters Production in Hong Kong SAR, China

In value terms, braces and garters production surged to $X in 2022 estimated in export price. In general, production, however, saw a abrupt curtailment. The growth pace was the most rapid in 2020 when the production volume increased by 337%. Braces and garters production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Braces And Garters Exports

Exports from Hong Kong SAR, China

In 2022, approx. X units of braces, suspenders and garters were exported from Hong Kong SAR; which is down by -43% compared with 2021 figures. Overall, exports saw a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 25% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, braces and garters exports shrank significantly to $X in 2022. Over the period under review, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2021 when exports increased by 17% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units), Vietnam (X units) and China (X units) were the main destinations of braces and garters exports from Hong Kong SAR, with a combined 53% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +10.2%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for braces and garters exported from Hong Kong SAR were Indonesia ($X), Vietnam ($X) and China ($X), with a combined 53% share of total exports.

Vietnam, with a CAGR of +11.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average braces and garters export price stood at $X per unit in 2022, dropping by -4.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 21%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per unit) and India ($X per unit), while the average price for exports to Thailand ($X per unit) and Honduras ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.

Braces And Garters Imports

Imports into Hong Kong SAR, China

In 2022, the amount of braces, suspenders and garters imported into Hong Kong SAR contracted notably to X units, waning by -36.5% on the previous year. In general, imports showed a abrupt setback. The pace of growth was the most pronounced in 2015 with an increase of 31%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, braces and garters imports declined sharply to $X in 2022. Over the period under review, imports showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 35% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest braces and garters supplier to Hong Kong SAR, accounting for a 87% share of total imports. Moreover, braces and garters imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X units), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-2.2% per year) and Vietnam (+17.6% per year).

In value terms, China ($X) constituted the largest supplier of braces, suspenders and garters to Hong Kong SAR, comprising 87% of total imports. The second position in the ranking was held by Belgium ($X), with a 9.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-1.6% per year) and Vietnam (+18.4% per year).

Import Prices by Country

The average braces and garters import price stood at $X per unit in 2022, which is down by -3.6% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 15%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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