Hong Kong SAR, China: Crude Granite Market 2024

Crude Granite Market Size in Hong Kong SAR, China

The Hong Kong crude granite market shrank sharply to $X in 2022, which is down by -18.8% 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 recorded a pronounced slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Crude Granite Exports

Exports from Hong Kong SAR, China

In 2022, the amount of granite (crude) exported from Hong Kong SAR expanded significantly to X tons, picking up by 13% on 2021. Overall, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 70%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, crude granite exports shrank to $X in 2022. In general, exports, however, showed a abrupt descent. The growth pace was the most rapid in 2017 when exports increased by 173%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for crude granite exports from Hong Kong SAR, with a 89% share of total exports. Moreover, crude granite exports to China exceeded the volume sent to the second major destination, India (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China totaled -17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+39.5% per year) and the UK (+5.5% per year).

In value terms, China ($X) remains the key foreign market for granite (crude) exports from Hong Kong SAR, comprising 72% of total exports. The second position in the ranking was taken by the UK ($X), with a 9.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled -19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+17.9% per year) and India (+38.4% per year).

Export Prices by Country

The average crude granite export price stood at $X per ton in 2022, reducing by -18.9% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 84%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to China ($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 the UK (+11.7%), while the prices for the other major destinations experienced a decline.

Crude Granite Imports

Imports into Hong Kong SAR, China

Crude granite imports into Hong Kong SAR dropped rapidly to X tons in 2022, which is down by -18.3% compared with 2021. Over the period under review, imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 173% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, crude granite imports dropped notably to $X in 2022. Overall, imports showed a noticeable decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 173%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest crude granite supplier to Hong Kong SAR, with a 62% share of total imports. Moreover, crude granite imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.2% per year) and Taiwan (Chinese) (+62.6% per year).

In value terms, the largest crude granite suppliers to Hong Kong SAR were India ($X), China ($X) and Taiwan (Chinese) ($X), together comprising 89% of total imports. Mozambique, Brazil and Finland lagged somewhat behind, together accounting for a further 3.6%.

In terms of the main suppliers, Mozambique, with a CAGR of +45.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average crude granite import price amounted to $X per ton, approximately equating the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 4.8% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+25.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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