Hong Kong SAR, China: Nail And Bolt Market 2024

Nail And Bolt Market Size in Hong Kong SAR, China

The Hong Kong nail and bolt market surged to $X in 2021, with an increase of 24% against the previous year. Overall, the total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.6% against 2018 indices. Nail and bolt consumption peaked in 2021 and is likely to see gradual growth in years to come.

Nail And Bolt Production in Hong Kong SAR, China

In value terms, nail and bolt production soared to $X in 2021 estimated in export price. In general, production, however, recorded a perceptible decrease. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Nail And Bolt Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of nails, tacks, staples, screws and bolts was finally on the rise to reach X tons for the first time since 2012, thus ending a eight-year declining trend. In general, exports, however, saw a abrupt decline. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, nail and bolt exports surged to $X in 2021. Over the period under review, exports, however, showed a perceptible setback. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for nail and bolt exports from Hong Kong SAR, with a 51% share of total exports. Moreover, nail and bolt exports to China exceeded the volume sent to the second major destination, the United States (X tons), sixfold. The third position in this ranking was taken by Vietnam (X tons), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled -7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-0.6% per year) and Vietnam (+3.2% per year).

In value terms, China ($X) remains the key foreign market for nails, tacks, staples, screws and bolts exports from Hong Kong SAR, comprising 60% of total exports. The second position in the ranking was held by the United States ($X), with a 9.3% share of total exports. It was followed by Vietnam, with a 3.6% share.

From 2012 to 2021, the average annual growth rate of value to China totaled -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+2.9% per year) and Vietnam (+13.6% per year).

Export Prices by Country

The average nail and bolt export price stood at $X per ton in 2021, with an increase of 3.7% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nail and bolt export price decreased by -1.3% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 24%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+33.3%), while the prices for the other major destinations experienced more modest paces of growth.

Nail And Bolt Imports

Imports into Hong Kong SAR, China

In 2021, the amount of nails, tacks, staples, screws and bolts imported into Hong Kong SAR skyrocketed to X tons, growing by 16% compared with 2020 figures. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nail and bolt imports amounted to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of nail and bolt to Hong Kong SAR, with a 87% share of total imports. Moreover, nail and bolt imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. Japan (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.6% per year) and Japan (-4.3% per year).

In value terms, China ($X) constituted the largest supplier of nails, tacks, staples, screws and bolts to Hong Kong SAR, comprising 56% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports. It was followed by Germany, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.9% per year) and Germany (+5.7% per year).

Import Prices by Country

The average nail and bolt import price stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the import price showed a pronounced contraction. The pace of growth appeared the most rapid in 2017 an increase of 6.5% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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