Hong Kong SAR, China: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Hong Kong SAR, China

For the third consecutive year, the Hong Kong machine-tool for working wood market recorded decline in sales value, which decreased by -28.3% to $X in 2021. Over the period under review, consumption saw a pronounced downturn. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Machine-Tools For Working Wood in Hong Kong SAR, China

In value terms, machine-tool for working wood production declined dramatically to $X in 2021 estimated in export price. Overall, production recorded a deep downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 210% against the previous year. Machine-tool for working wood production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Machine-Tools For Working Wood

Exports from Hong Kong SAR, China

In 2021, approx. X tons of machine-tools for working wood were exported from Hong Kong SAR; reducing by -42.5% against the previous year. Overall, exports showed a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 92%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, machine-tool for working wood exports reduced remarkably to $X in 2021. In general, exports showed a mild downturn. The pace of growth was the most pronounced in 2019 when exports increased by 96% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for machine-tool for working wood exports from Hong Kong SAR, with a 94% share of total exports. It was followed by Germany (X tons), with a 2.5% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China stood at -4.5%.

In value terms, China ($X) remains the key foreign market for machine-tools for working wood exports from Hong Kong SAR, comprising 95% of total exports. The second position in the ranking was taken by Germany ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China was relatively modest.

Export Prices by Country

In 2021, the average machine-tool for working wood export price amounted to $X per ton, surging by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The pace of growth was the most pronounced in 2018 an increase of 19% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.8%).

Imports of Machine-Tools For Working Wood

Imports into Hong Kong SAR, China

In 2021, the amount of machine-tools for working wood imported into Hong Kong SAR reduced dramatically to X tons, shrinking by -41.2% compared with 2020 figures. Over the period under review, imports, however, posted a pronounced increase. The growth pace was the most rapid in 2019 with an increase of 148% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, machine-tool for working wood imports declined remarkably to $X in 2021. Overall, imports, however, recorded a moderate increase. The pace of growth appeared the most rapid in 2019 with an increase of 136% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest machine-tool for working wood supplier to Hong Kong SAR, accounting for a 59% share of total imports. Moreover, machine-tool for working wood imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.7% per year) and Taiwan (Chinese) (-7.6% per year).

In value terms, Germany ($X) constituted the largest supplier of machine-tools for working wood to Hong Kong SAR, comprising 66% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by Italy, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.9% per year) and Italy (-2.3% per year).

Import Prices by Country

In 2021, the average machine-tool for working wood import price amounted to $X per ton, surging by 14% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 20%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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