Hong Kong SAR, China: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Hong Kong SAR, China

The Hong Kong market for forage harvesters and other harvesting machines shrank remarkably to $X in 2021, reducing by -21.5% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank notably in the following year.

Production of Forage Harvesters and Other Harvesting Machines in Hong Kong SAR, China

In value terms, production of forage harvesters and other harvesting machines plummeted to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 73%. As a result, production attained the peak level of $X, and then declined markedly in the following year.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from Hong Kong SAR, China

In 2021, overseas shipments of forage harvesters and other harvesting machines increased by 50% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 100%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of forage harvesters and other harvesting machines dropped notably to $X in 2021. Overall, exports, however, recorded a sharp decrease. The pace of growth appeared the most rapid in 2018 when exports increased by 382% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Malawi (X units), China (X units) and Thailand (X units) were the main destinations of exports of forage harvesters and other harvesting machines from Hong Kong SAR.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, China ($X) remains the key foreign market for forage harvesters and other harvesting machines exports from Hong Kong SAR, comprising 57% of total exports. The second position in the ranking was taken by Canada ($X), with a 16% share of total exports. It was followed by Malawi, with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+43.7% per year) and Malawi (+50.0% per year).

Export Prices by Country

In 2021, the average export price for forage harvesters and other harvesting machines amounted to $X per unit, waning by -62.1% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 959% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Thailand ($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 Thailand (+233.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into Hong Kong SAR, China

In 2021, the amount of forage harvesters and other harvesting machines imported into Hong Kong SAR amounted to X units, flattening at the previous year. Over the period under review, imports showed a abrupt descent. The pace of growth appeared the most rapid in 2015 when imports increased by 100%. Over the period under review, imports of hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of forage harvesters and other harvesting machines declined dramatically to $X in 2021. In general, imports saw a significant decline. The pace of growth was the most pronounced in 2020 with an increase of 1,188%. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

From 2012 to 2021, the average annual growth rate of volume from No country was relatively modest.

In value terms, Japan ($X) constituted the largest supplier of forage harvesters and other harvesting machines to Hong Kong SAR, comprising 64% of total imports. The second position in the ranking was held by the United States ($X), with a 4.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +1.9%.

Import Prices by Country

In 2021, the average import price for forage harvesters and other harvesting machines amounted to $X per unit, which is down by -35.2% against the previous year. Over the period under review, the import price recorded a pronounced contraction. The growth pace was the most rapid in 2018 when the average import price increased by 510% against the previous year. The import price peaked at $X per unit in 2020, and then dropped remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Japan totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.3%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :