Hong Kong SAR, China: Market for Machines For Cleaning, Sorting Or Grading Seed, Grain Or Dried Leguminous Vegetables 2024

Market Size for Machines For Cleaning, Sorting Or Grading Seed, Grain Or Dried Leguminous Vegetables in Hong Kong SAR, China

The Hong Kong market for machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables reduced slightly to $X in 2021, leveling off at the previous year. The market value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Machines For Cleaning, Sorting Or Grading Seed, Grain Or Dried Leguminous Vegetables in Hong Kong SAR, China

In value terms, production of machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.7% against 2018 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 60%. As a result, production attained the peak level of $X. From 2016 to 2021, production of growth failed to regain momentum.

Exports of Machines For Cleaning, Sorting Or Grading Seed, Grain Or Dried Leguminous Vegetables

Exports from Hong Kong SAR, China

After five years of decline, shipments abroad of machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables increased by 600% to X units in 2021. Overall, exports, however, showed a sharp contraction. The most prominent rate of growth was recorded in 2015 with an increase of 2,570%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables skyrocketed to $X in 2021. In general, exports, however, continue to indicate a precipitous decrease. The growth pace was the most rapid in 2015 when exports increased by 2,548%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Bangladesh (X units) was the main destination for exports of machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables from Hong Kong SAR, with a 71% share of total exports. Moreover, exports of machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables to Bangladesh exceeded the volume sent to the second major destination, Austria (X units), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Bangladesh totaled -20.2%.

In value terms, Bangladesh ($X) remains the key foreign market for machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables exports from Hong Kong SAR, comprising 81% of total exports. The second position in the ranking was held by India ($X), with a 6.1% share of total exports. It was followed by Sri Lanka, with a 0.2% share.

From 2012 to 2021, the average annual growth rate of value to Bangladesh totaled -25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-47.7% per year) and Sri Lanka (-66.1% per year).

Export Prices by Country

In 2021, the average export price for machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables amounted to $X per unit, declining by -13.7% against the previous year. In general, the export price faced a abrupt decline. The pace of growth appeared the most rapid in 2020 an increase of 80% against the previous year. Over the period under review, the average export prices reached the maximum 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 overseas markets. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while the average price for exports to Austria ($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 (+15.8%), while the prices for the other major destinations experienced a decline.

Imports of Machines For Cleaning, Sorting Or Grading Seed, Grain Or Dried Leguminous Vegetables

Imports into Hong Kong SAR, China

In 2021, overseas purchases of machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables decreased by -6.7% to X units, falling for the fourth year in a row after three years of growth. Overall, imports, however, showed measured growth. The pace of growth appeared the most rapid in 2017 with an increase of 1,921%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables rose sharply to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 1,565%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

Malaysia (X units), Thailand (X units) and China (X units) were the main suppliers of imports of machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables to Hong Kong SAR, with a combined 77% 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 Malaysia (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables to Hong Kong SAR, comprising 39% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports. It was followed by Thailand, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia stood at +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.6% per year) and Thailand (+41.6% per year).

Import Prices by Country

The average import price for machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables stood at $X per unit in 2021, rising by 16% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2019 when the average import price increased by 28% against the previous year. The import price peaked 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+52.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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