Hong Kong SAR, China: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Hong Kong SAR, China

The Hong Kong lathe for removing metal market rose significantly to $X in 2021, surging by 11% against the previous year. Over the period under review, consumption, however, saw a mild decrease. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Lathes For Removing Metal in Hong Kong SAR, China

In value terms, lathe for removing metal production reached $X in 2021 estimated in export price. In general, production, however, saw a pronounced contraction. The growth pace was the most rapid in 2018 when the production volume increased by 32%. Lathe for removing metal production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Exports of Lathes For Removing Metal

Exports from Hong Kong SAR, China

For the third year in a row, Hong Kong SAR recorded decline in overseas shipments of lathes for removing metal, which decreased by -20.3% to X units in 2021. Overall, exports showed a deep setback. The pace of growth was the most pronounced in 2014 when exports increased by 90% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, lathe for removing metal exports dropped remarkably to $X in 2021. Over the period under review, exports recorded a sharp decline. The pace of growth appeared the most rapid in 2014 with an increase of 73% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Pakistan (X units) was the main destination for lathe for removing metal exports from Hong Kong SAR, with a 70% share of total exports. Moreover, lathe for removing metal exports to Pakistan exceeded the volume sent to the second major destination, China (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume to Pakistan stood at +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-19.5% per year) and Thailand (-13.8% per year).

In value terms, China ($X) remains the key foreign market for lathes for removing metal exports from Hong Kong SAR, comprising 89% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 9.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China stood at -22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+1.7% per year) and Thailand (-26.9% per year).

Export Prices by Country

In 2021, the average lathe for removing metal export price amounted to $X per unit, surging by 6.8% against the previous year. Overall, the export price, however, continues to indicate a deep downturn. The pace of growth was the most pronounced in 2020 an increase of 32%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Thailand ($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 the Philippines (+6.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Lathes For Removing Metal

Imports into Hong Kong SAR, China

In 2021, lathe for removing metal imports into Hong Kong SAR dropped rapidly to X units, which is down by -30.8% on the previous year. Overall, imports showed a abrupt decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 157%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, lathe for removing metal imports contracted sharply to $X in 2021. Over the period under review, imports saw a sharp decline. The most prominent rate of growth was recorded in 2014 with an increase of 104%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Philippines (X units) constituted the largest supplier of lathe for removing metal to Hong Kong SAR, with a 63% share of total imports. Moreover, lathe for removing metal imports from the Philippines exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), threefold. The third position in this ranking was taken by China (X units), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Philippines totaled +49.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-17.6% per year) and China (-31.9% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of lathes for removing metal to Hong Kong SAR, comprising 60% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 20% share of total imports. It was followed by China, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) stood at -16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+71.3% per year) and China (-31.0% per year).

Import Prices by Country

The average lathe for removing metal import price stood at $X per unit in 2021, with a decrease of -15.9% against the previous year. In general, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of 87% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 South Korea ($X per unit), while the price for the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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