Hong Kong SAR, China: Market for Machine-Tools For Working Any Material By Removal Of Material 2024

Market Size for Machine-Tools For Working Any Material By Removal Of Material in Hong Kong SAR, China

After two years of growth, the Hong Kong machine-tool for removing material market decreased by -51.1% to $X in 2021. Over the period under review, consumption, however, recorded a buoyant increase. Machine-tool for removing material consumption peaked at $X in 2020, and then declined significantly in the following year.

Production of Machine-Tools For Working Any Material By Removal Of Material in Hong Kong SAR, China

In value terms, machine-tool for removing material production shrank significantly to $X in 2021 estimated in export price. In general, production, however, posted significant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 9,374%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Exports of Machine-Tools For Working Any Material By Removal Of Material

Exports from Hong Kong SAR, China

In 2021, exports of machine-tools for working any material by removal of material from Hong Kong SAR surged to X units, picking up by 45% against 2020. Overall, total exports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 59%. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for removing material exports soared to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 40% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for machine-tool for removing material exports from Hong Kong SAR, with a 50% share of total exports. Moreover, machine-tool for removing material exports to China exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by Cambodia (X units), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+44.1% per year) and Cambodia (+78.2% per year).

In value terms, China ($X) remains the key foreign market for machine-tools for working any material by removal of material exports from Hong Kong SAR, comprising 95% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 0.7% share of total exports. It was followed by the United States, with a 0.6% share.

From 2012 to 2021, the average annual growth rate of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+48.9% per year) and the United States (+14.5% per year).

Export Prices by Country

The average machine-tool for removing material export price stood at $X per unit in 2021, waning by -18.9% against the previous year. Over the period under review, the export price continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2017 an increase of 67%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the United States ($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 China (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Any Material By Removal Of Material

Imports into Hong Kong SAR, China

In 2021, the amount of machine-tools for working any material by removal of material imported into Hong Kong SAR reduced markedly to X units, declining by -19.9% on the year before. Overall, imports showed a perceptible decline. The most prominent rate of growth was recorded in 2020 when imports increased by 99%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, machine-tool for removing material imports amounted to $X in 2021. Over the period under review, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2018 with an increase of 47%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of machine-tool for removing material to Hong Kong SAR, with a 75% share of total imports. Moreover, machine-tool for removing material imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.6% per year) and Taiwan (Chinese) (-14.6% per year).

In value terms, Japan ($X) constituted the largest supplier of machine-tools for working any material by removal of material to Hong Kong SAR, comprising 64% of total imports. The second position in the ranking was held by China ($X), with a 24% share of total imports. It was followed by Taiwan (Chinese), with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.7% per year) and Taiwan (Chinese) (-17.3% per year).

Import Prices by Country

In 2021, the average machine-tool for removing material import price amounted to $X per unit, rising by 32% against the previous year. Overall, the import price continues to indicate a moderate expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 47% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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