Hong Kong SAR, China: Memories Market 2024

Memories Market Size in Hong Kong SAR, China

In 2021, after three years of decline, there was significant growth in the Hong Kong memories market, when its value increased by 3,431% to $X. Over the period under review, consumption showed a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Memories Production in Hong Kong SAR, China

In value terms, memories production totaled $X in 2021 estimated in export price. Over the period under review, production posted a moderate increase. The growth pace was the most rapid in 2019 with an increase of 107%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Memories Exports

Exports from Hong Kong SAR, China

For the third consecutive year, Hong Kong SAR recorded decline in shipments abroad of multichip integrated circuits: memories, which decreased by -11.7% to X units in 2021. Overall, exports, however, recorded a measured expansion. The most prominent rate of growth was recorded in 2018 with an increase of 41%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, memories exports surged to $X in 2021. Over the period under review, exports, however, saw a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units) was the main destination for memories exports from Hong Kong SAR, with a 82% share of total exports. Moreover, memories exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), more than tenfold. South Korea (X units) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-2.1% per year) and South Korea (-3.1% per year).

In value terms, China ($X) remains the key foreign market for multichip integrated circuits: memories exports from Hong Kong SAR, comprising 88% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 4.8% share of total exports. It was followed by India, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+7.7% per year) and India (+73.0% per year).

Export Prices by Country

The average memories export price stood at $X per unit in 2021, growing by 71% against the previous year. In general, the export price posted a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 India ($X per unit), while the average price for exports to Singapore ($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 India (+33.9%), while the prices for the other major destinations experienced more modest paces of growth.

Memories Imports

Imports into Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in purchases abroad of multichip integrated circuits: memories, when their volume increased by 14% to X units. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 20%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, memories imports skyrocketed to $X in 2021. In general, imports continue to indicate a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest memories supplier to Hong Kong SAR, accounting for a 61% share of total imports. Moreover, memories imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold. Singapore (X units) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+0.9% per year) and Singapore (+2.8% per year).

In value terms, China ($X), South Korea ($X) and Singapore ($X) were the largest memories suppliers to Hong Kong SAR, together comprising 87% of total imports.

China, with a CAGR of +21.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average memories import price amounted to $X per unit, with an increase of 33% against the previous year. Over the period under review, the import price enjoyed strong growth. The pace of growth was the most pronounced in 2014 when the average import price increased by 42%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see steady growth in the immediate term.

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 ($X per unit), while the price for Thailand ($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 (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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