Hong Kong SAR, China: Market for Nuts (Prepared Or Preserved) 2024

Market Size for Nuts (Prepared Or Preserved) in Hong Kong SAR, China

For the third year in a row, the Hong Kong nuts (prepared or preserved) market recorded decline in sales value, which decreased by -56.7% to $X in 2021. Overall, consumption showed a deep downturn. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Nuts (Prepared Or Preserved) in Hong Kong SAR, China

In value terms, nuts (prepared or preserved) production fell markedly to $X in 2021 estimated in export price. In general, production recorded a abrupt slump. Over the period under review, production attained the peak level at $X in 2020, and then declined notably in the following year.

Exports of Nuts (Prepared Or Preserved)

Exports from Hong Kong SAR, China

In 2021, the amount of nuts (prepared or preserved) exported from Hong Kong SAR surged to X tons, increasing by 57% against the previous year's figure. Overall, exports continue to indicate a notable expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 106% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, nuts (prepared or preserved) exports soared to $X in 2021. In general, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 61% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for nuts (prepared or preserved) exports from Hong Kong SAR, accounting for a 83% share of total exports. Moreover, nuts (prepared or preserved) exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), more than tenfold. The third position in this ranking was taken by Vietnam (X tons), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+8.2% per year) and Vietnam (-12.8% per year).

In value terms, China ($X) remains the key foreign market for nuts (prepared or preserved) exports from Hong Kong SAR, comprising 73% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 13% share of total exports. It was followed by Vietnam, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+12.5% per year) and Vietnam (-6.3% per year).

Export Prices by Country

In 2021, the average nuts (prepared or preserved) export price amounted to $X per ton, shrinking by -3.4% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nuts (prepared or preserved) export price decreased by -41.8% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 59%. The export price peaked at $X per ton in 2018; however, from 2019 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, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China ($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 Vietnam (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nuts (Prepared Or Preserved)

Imports into Hong Kong SAR, China

In 2021, imports of nuts (prepared or preserved) into Hong Kong SAR expanded notably to X tons, surging by 7.9% compared with the year before. Overall, total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -36.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 29%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, nuts (prepared or preserved) imports expanded markedly to $X in 2021. In general, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -41.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 48% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Thailand (X tons) and Vietnam (X tons) were the main suppliers of nuts (prepared or preserved) imports to Hong Kong SAR, with a combined 71% share of total imports. China, Taiwan (Chinese), India and Malaysia lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +19.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nuts (prepared or preserved) suppliers to Hong Kong SAR were the United States ($X), Vietnam ($X) and China ($X), with a combined 79% share of total imports.

Vietnam, with a CAGR of +20.1%, recorded the highest rates of growth with regard to 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 nuts (prepared or preserved) import price amounted to $X per ton, almost unchanged from the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2014 an increase of 18%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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