Hong Kong SAR, China: Cotton Embroidery Market 2024

Cotton Embroidery Market Size in Hong Kong SAR, China

The Hong Kong cotton embroidery market soared to $X in 2022, picking up by 70% against the previous year. Overall, consumption saw a tangible expansion. Cotton embroidery consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Cotton Embroidery Production in Hong Kong SAR, China

In value terms, cotton embroidery production expanded sharply to $X in 2022 estimated in export price. In general, production showed a tangible increase. The pace of growth appeared the most rapid in 2017 with an increase of 113% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Cotton Embroidery Exports

Exports from Hong Kong SAR, China

In 2022, the amount of cotton embroidery in the piece exported from Hong Kong SAR dropped significantly to X tons, declining by -23.2% against the previous year's figure. Overall, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 76% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton embroidery exports contracted to $X in 2022. Over the period under review, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2017 when exports increased by 45%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh (X tons), Vietnam (X tons) and China (X tons) were the main destinations of cotton embroidery exports from Hong Kong SAR, with a combined 60% share of total exports. The United States, India, France, the UK, Cambodia and Indonesia lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +74.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Bangladesh ($X) and Cambodia ($X) were the largest markets for cotton embroidery exported from Hong Kong SAR worldwide, with a combined 56% share of total exports. China, the United States, India, France, the UK and Indonesia lagged somewhat behind, together comprising a further 33%.

The UK, with a CAGR of +62.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination 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 cotton embroidery export price amounted to $X per ton, with an increase of 23% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 43% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to the UK ($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 Cambodia (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Embroidery Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of cotton embroidery in the piece were imported into Hong Kong SAR; falling by -8.4% against the previous year. Over the period under review, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cotton embroidery imports surged to $X in 2022. In general, imports faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 26% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main cotton embroidery supplier to Hong Kong SAR, accounting for a 94% share of total imports. It was followed by Italy (X kg), with a 1.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.9% per year) and India (-7.7% per year).

In value terms, China ($X) constituted the largest supplier of cotton embroidery in the piece to Hong Kong SAR, comprising 66% of total imports. The second position in the ranking was taken by Italy ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to -15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.8% per year) and India (-5.5% per year).

Import Prices by Country

In 2022, the average cotton embroidery import price amounted to $X per ton, increasing by 33% against the previous year. In general, the import price posted a pronounced increase. The pace of growth was the most pronounced in 2014 an increase of 51% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :