Hong Kong SAR, China: Knitting Machines Market 2024

Knitting Machines Market Size in Hong Kong SAR, China

The Hong Kong knitting machines market expanded rapidly to $X in 2021, with an increase of 11% against the previous year. Over the period under review, consumption, however, recorded a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Knitting Machines Production in Hong Kong SAR, China

In value terms, knitting machines production dropped to $X in 2021 estimated in export price. In general, production, however, showed a mild decrease. The most prominent rate of growth was recorded in 2014 when the production volume increased by 19% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Knitting Machines Exports

Exports from Hong Kong SAR, China

In 2021, the amount of knitting machineses exported from Hong Kong SAR fell sharply to X units, dropping by -39.5% compared with 2020. In general, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of 145%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, knitting machines exports fell significantly to $X in 2021. Overall, exports showed a dramatic downturn. The growth pace was the most rapid in 2013 when exports increased by 129% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bangladesh (X units) was the main destination for knitting machines exports from Hong Kong SAR, accounting for a 31% share of total exports. Moreover, knitting machines exports to Bangladesh exceeded the volume sent to the second major destination, Cambodia (X units), threefold. The third position in this ranking was held by Oman (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bangladesh totaled +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-19.9% per year) and Oman (0.0% per year).

In value terms, Bangladesh ($X) remains the key foreign market for knitting machineses exports from Hong Kong SAR, comprising 41% of total exports. The second position in the ranking was taken by China ($X), with a 20% share of total exports. It was followed by Thailand, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value to Bangladesh amounted to +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-34.3% per year) and Thailand (-4.2% per year).

Export Prices by Country

The average knitting machines export price stood at $X per unit in 2021, with a decrease of -31.8% against the previous year. Overall, the export price saw a abrupt decline. The pace of growth appeared the most rapid in 2016 an increase of 45% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Oman ($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 Vietnam (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Knitting Machines Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of knitting machineses increased by 22% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a sharp downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 85%. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, knitting machines imports dropped markedly to $X in 2021. Over the period under review, imports, however, recorded a dramatic slump. The most prominent rate of growth was recorded in 2013 with an increase of 115% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), India (X units) and Italy (X units) were the main suppliers of knitting machines imports to Hong Kong SAR, with a combined 89% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +31.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, India ($X) constituted the largest supplier of knitting machineses to Hong Kong SAR, comprising 52% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.7% per year) and China (-23.0% per year).

Import Prices by Country

The average knitting machines import price stood at $X per unit in 2021, with a decrease of -42.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 159%. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+30.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform