Hong Kong SAR, China: Fertilizer Market 2024

Fertilizer Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong fertilizer market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2021, and then fell in the following year.

Fertilizer Production in Hong Kong SAR, China

In value terms, fertilizer production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Fertilizer Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of fertilizers were exported from Hong Kong SAR; with a decrease of X% against 2021 figures. In general, exports saw a perceptible contraction. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, fertilizer exports declined dramatically to $X in 2022. Over the period under review, exports, however, enjoyed a slight increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.

Exports by Country

Malaysia (X tons) was the main destination for fertilizer exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, fertilizer exports to Malaysia exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was held by Australia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Australia (X% per year).

In value terms, China ($X) remains the key foreign market for fertilizers exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Australia (X% per year).

Export Prices by Country

The average fertilizer export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price posted a perceptible increase. The pace of growth was the most pronounced in 2021 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into Hong Kong SAR, China

In 2022, the amount of fertilizers imported into Hong Kong SAR contracted notably to X tons, declining by X% compared with the previous year's figure. Overall, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, fertilizer imports dropped notably to $X in 2022. In general, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then reduced markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of fertilizer to Hong Kong SAR, with a X% share of total imports. Moreover, fertilizer imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Belgium (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Belgium (X% per year).

In value terms, China ($X) constituted the largest supplier of fertilizers to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2022, the average fertilizer import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, showed a noticeable downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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