Hong Kong SAR, China: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Hong Kong SAR, China

The Hong Kong market for coconut, abaca, ramie and other vegetable textile fibres reduced dramatically to $X in 2022, which is down by -27% against the previous year. In general, consumption recorded a pronounced descent. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Hong Kong SAR, China

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres rose rapidly to $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.1% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 33% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production of growth remained at a lower figure.

In 2022, the average yield of coconut, abaca, ramie and other vegetable textile fibres in Hong Kong SAR amounted to less than X kg per ha, flattening at 2021. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of coconut, abaca, ramie and other vegetable textile fibres in Hong Kong SAR was estimated at less than X ha, stabilizing at the year before. Overall, the harvested area recorded a relatively flat trend pattern.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of coconut, abaca, ramie and other vegetable textile fibres decreased by -2.4% to X tons in 2022. Overall, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 184%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres shrank dramatically to $X in 2022. Over the period under review, exports continue to indicate a slight decline. The most prominent rate of growth was recorded in 2013 when exports increased by 99% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

The United States (X tons), Panama (X tons) and China (X kg) were the main destinations of exports of coconut, abaca, ramie and other vegetable textile fibres from Hong Kong SAR, together accounting for 91% 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 the United States (with a CAGR of +7.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Panama ($X) and the Netherlands ($X) constituted the largest markets for coconut, abaca, ramie and other vegetable textile fibre exported from Hong Kong SAR worldwide, together comprising 87% of total exports.

Among the main countries of destination, the United States, with a CAGR of +15.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, with a decrease of -14.2% against the previous year. Over the period under review, the export price, however, continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 86%. The export price peaked at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Israel ($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 Pakistan (+38.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into Hong Kong SAR, China

In 2022, the amount of coconut, abaca, ramie and other vegetable textile fibres imported into Hong Kong SAR dropped markedly to X kg, which is down by -98.5% compared with 2021. Overall, imports recorded a sharp downturn. The most prominent rate of growth was recorded in 2018 with an increase of 604% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres fell remarkably to $X in 2022. In general, imports showed a precipitous descent. The most prominent rate of growth was recorded in 2018 when imports increased by 393% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, France (X kg) was the main coconut, abaca, ramie and other vegetable textile fibre supplier to Hong Kong SAR, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at +18.6%.

In value terms, France ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at +9.6%.

Import Prices by Country

In 2022, the average import price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, with an increase of 1,175% against the previous year. Overall, the import price recorded a significant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for France.

From 2012 to 2022, the rate of growth in terms of prices for the Philippines amounted to +7.4% per year.

Source: IndexBox Platform