Hong Kong SAR, China: Civil Reaction Engine Market 2024

Civil Reaction Engine Market Size in Hong Kong SAR, China

The Hong Kong civil reaction engine market contracted significantly to $X in 2021, with a decrease of -62.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a deep slump. As a result, consumption attained the peak level of $X, and then contracted markedly in the following year.

Civil Reaction Engine Exports

Exports from Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in overseas shipments of civil reaction engines, when their volume increased by 141% to X units. Overall, exports, however, faced a dramatic decrease. The pace of growth was the most pronounced in 2015 with an increase of 243% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, civil reaction engine exports skyrocketed to $X in 2021. In general, exports, however, recorded a dramatic decline. The most prominent rate of growth was recorded in 2015 with an increase of 218%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X units) was the main destination for civil reaction engine exports from Hong Kong SAR, with a 17% share of total exports. Moreover, civil reaction engine exports to the Philippines exceeded the volume sent to the second major destination, Belgium (X units), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to the Philippines amounted to -25.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and Sri Lanka (-15.9% per year).

In value terms, the Philippines ($X) remains the key foreign market for civil reaction engines exports from Hong Kong SAR, comprising 26% of total exports. The second position in the ranking was taken by Belgium ($X), with a 1.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Philippines totaled +89.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and Sri Lanka (-2.4% per year).

Export Prices by Country

The average civil reaction engine export price stood at $X per unit in 2021, growing by 3.5% against the previous year. In general, the export price posted a measured expansion. The growth pace was the most rapid in 2020 when the average export price increased by 126%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+154.5%).

Civil Reaction Engine Imports

Imports into Hong Kong SAR, China

In 2021, approx. X units of civil reaction engines were imported into Hong Kong SAR; with a decrease of -61.8% against 2020. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 62%. As a result, imports reached the peak of X units, and then contracted markedly in the following year.

In value terms, civil reaction engine imports reduced markedly to $X in 2021. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by 63%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X units) constituted the largest civil reaction engine supplier to Hong Kong SAR, with a 54% share of total imports. Moreover, civil reaction engine imports from the UK exceeded the figures recorded by the second-largest supplier, Thailand (X units), twofold. India (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-13.7% per year) and India (-11.9% per year).

In value terms, Italy ($X) constituted the largest supplier of civil reaction engines to Hong Kong SAR, comprising 31% of total imports. The second position in the ranking was held by the UK ($X), with a 13% share of total imports. It was followed by Thailand, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled -17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-19.9% per year) and Thailand (-34.4% per year).

Import Prices by Country

In 2021, the average civil reaction engine import price amounted to $X per unit, rising by 2.1% against the previous year. In general, the import price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 an increase of 9.6%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-13.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :