Hong Kong SAR, China: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in Hong Kong SAR, China

The Hong Kong metal domestic furniture market reduced markedly to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Domestic Furniture Exports

Exports from Hong Kong SAR, China

In 2022, exports of metal furniture from Hong Kong SAR shrank rapidly to X tons, dropping by X% on 2021. Overall, exports saw a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, metal domestic furniture exports shrank dramatically to $X in 2022. In general, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for metal domestic furniture exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, metal domestic furniture exports to the United States exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and the Netherlands (X% per year).

In value terms, the United States ($X) remains the key foreign market for metal furniture exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average metal domestic furniture export price amounted to $X per ton, standing approx. at the previous year. Overall, the export price saw a mild reduction. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Domestic Furniture Imports

Imports into Hong Kong SAR, China

In 2022, metal domestic furniture imports into Hong Kong SAR dropped significantly to X tons, falling by X% on the previous year. Overall, imports recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal domestic furniture imports declined notably to $X in 2022. In general, imports recorded a pronounced decrease. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal domestic furniture supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, metal domestic furniture imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. Japan (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Japan (X% per year).

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

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average metal domestic furniture import price amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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