Hong Kong SAR, China: Industrial Roundwood (Non-Coniferous) Market 2024

Industrial Roundwood (Non-Coniferous) Market Size in Hong Kong SAR, China

For the third year in a row, the Hong Kong industrial roundwood (non-coniferous) market recorded decline in sales value, which decreased by -4.5% to $X in 2022. In general, consumption recorded a sharp contraction. Industrial roundwood (non-coniferous) consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Industrial Roundwood (Non-Coniferous) Production in Hong Kong SAR, China

In value terms, industrial roundwood (non-coniferous) production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of 80% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, (non-coniferous) production growth remained at a lower figure.

Industrial Roundwood (Non-Coniferous) Exports

Exports from Hong Kong SAR, China

In 2022, approx. X cubic meters of industrial roundwood were exported from Hong Kong SAR; picking up by 155% against 2021. Overall, exports, however, showed a dramatic slump. Over the period under review, the (non-coniferous) exports attained the peak figure at X cubic meters in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, industrial roundwood (non-coniferous) exports soared to $X in 2022. Over the period under review, exports, however, faced a precipitous decrease. Over the period under review, the (non-coniferous) exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X cubic meters) was the main destination for industrial roundwood (non-coniferous) exports from Hong Kong SAR, with a 96% share of total exports. Moreover, industrial roundwood (non-coniferous) exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X cubic meters), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -26.4%.

In value terms, China ($X) remains the key foreign market for industrial roundwood exports from Hong Kong SAR, comprising 96% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled -32.0%.

Export Prices by Country

The average industrial roundwood (non-coniferous) export price stood at $X per cubic meter in 2022, rising by 4.5% against the previous year. Overall, the export price, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2014 when the average export price increased by 65%. As a result, the export price attained the peak level of $X per cubic meter. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to Taiwan (Chinese) totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-3.5%).

Industrial Roundwood (Non-Coniferous) Imports

Imports into Hong Kong SAR, China

In 2022, approx. X cubic meters of industrial roundwood were imported into Hong Kong SAR; increasing by 129% against 2021. In general, imports, however, continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2019 with an increase of 1,291% against the previous year. Imports peaked at X cubic meters in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial roundwood (non-coniferous) imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a dramatic curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 885% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X cubic meters) constituted the largest industrial roundwood (non-coniferous) supplier to Hong Kong SAR, accounting for a 58% share of total imports. Moreover, industrial roundwood (non-coniferous) imports from China exceeded the figures recorded by the second-largest supplier, Guyana (X cubic meters), threefold. Cambodia (X cubic meters) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Guyana (+58.5% per year) and Cambodia (-28.9% per year).

In value terms, China ($X) constituted the largest supplier of industrial roundwood to Hong Kong SAR, comprising 51% of total imports. The second position in the ranking was held by Guyana ($X), with a 21% share of total imports. It was followed by Cambodia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Guyana (+54.5% per year) and Cambodia (-29.1% per year).

Import Prices by Country

The average industrial roundwood (non-coniferous) import price stood at $X per cubic meter in 2022, picking up by 30% against the previous year. In general, the import price, however, saw a noticeable contraction. The pace of growth was the most pronounced in 2020 when the average import price increased by 47%. The import price peaked at $X per cubic meter in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($X per cubic meter) and Guyana ($X per cubic meter), while the price for China ($X per cubic meter) and Mexico ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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