Hong Kong SAR, China: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Hong Kong SAR, China

The Hong Kong inedible fish products market fell to $X in 2022, reducing by -6.6% against the previous year. Over the period under review, consumption, however, enjoyed noticeable growth. Inedible fish products consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Inedible Fish Products Production in Hong Kong SAR, China

In value terms, inedible fish products production fell to $X in 2022 estimated in export price. Overall, production, however, enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 52%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports from Hong Kong SAR, China

In 2022, inedible fish products exports from Hong Kong SAR shrank markedly to X tons, falling by -16.5% compared with the year before. In general, exports recorded a abrupt slump. The pace of growth appeared the most rapid in 2020 with an increase of 36% 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 stood at a somewhat lower figure.

In value terms, inedible fish products exports shrank to $X in 2022. Over the period under review, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -40.9% against 2017 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 49%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons), India (X tons) and Japan (X tons) were the main destinations of inedible fish products exports from Hong Kong SAR, together accounting for 90% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +12.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X), India ($X) and Indonesia ($X) were the largest markets for inedible fish products exported from Hong Kong SAR worldwide, with a combined 91% share of total exports.

India, with a CAGR of +9.8%, recorded the highest growth rate of the value of exports, in terms of 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

The average inedible fish products export price stood at $X per ton in 2022, growing by 9.3% against the previous year. In general, the export price recorded a strong increase. The growth pace was the most rapid in 2015 an increase of 51%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Japan ($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 United States (+41.6%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of inedible fish products were imported into Hong Kong SAR; with an increase of 11% compared with 2021. Overall, imports, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 18%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, inedible fish products imports fell to $X in 2022. In general, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -28.5% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 33%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of inedible fish products imports to Hong Kong SAR, with a combined 99.9% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +22.7%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of inedible fish products to Hong Kong SAR, comprising 75% of total imports. The second position in the ranking was taken by Japan ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+22.1% per year) and South Korea (-0.2% per year).

Import Prices by Country

The average inedible fish products import price stood at $X per ton in 2022, declining by -14.8% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inedible fish products import price decreased by -24.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 84% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 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 China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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