Hong Kong SAR, China: Radio Receiver Market 2024

Radio Receiver Market Size in Hong Kong SAR, China

In 2022, the Hong Kong radio receiver market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, showed a deep contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Radio Receiver Production in Hong Kong SAR, China

In value terms, radio receiver production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 24% against the previous year. Radio receiver production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Radio Receiver Exports

Exports from Hong Kong SAR, China

In 2022, radio receiver exports from Hong Kong SAR dropped sharply to X units, reducing by -61.2% compared with the previous year's figure. In general, exports continue to indicate a dramatic decline. The smallest decline of -4.2% was in 2021. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, radio receiver exports declined significantly to $X in 2022. Overall, exports continue to indicate a dramatic setback. The growth pace was the most rapid in 2021 with an increase of 16%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for radio receiver exports from Hong Kong SAR, accounting for a 29% share of total exports. Moreover, radio receiver exports to the United States exceeded the volume sent to the second major destination, Japan (X units), threefold. China (X units) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-25.3% per year) and China (-25.3% per year).

In value terms, China ($X), the United States ($X) and Japan ($X) constituted the largest markets for radio receiver exported from Hong Kong SAR worldwide, together comprising 46% of total exports. Brazil, Austria, the UK, Germany, Australia, France, Sweden, Belgium, Taiwan (Chinese) and Canada lagged somewhat behind, together comprising a further 29%.

Among the main countries of destination, Austria, with a CAGR of -2.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average radio receiver export price stood at $X per unit in 2022, shrinking by -8.6% against the previous year. In general, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radio receiver export price increased by +30.1% against 2015 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 21% against the previous year. As a result, the export price attained the peak level of $X per unit, and then dropped in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+27.9%), while the prices for the other major destinations experienced more modest paces of growth.

Radio Receiver Imports

Imports into Hong Kong SAR, China

In 2022, after nine years of decline, there was significant growth in supplies from abroad of radio receivers, when their volume increased by 46% to X units. Overall, imports, however, saw a abrupt shrinkage. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, radio receiver imports fell notably to $X in 2022. Over the period under review, imports, however, faced a sharp reduction. The pace of growth was the most pronounced in 2021 when imports increased by 19% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of radio receiver to Hong Kong SAR, with a 69% share of total imports. Moreover, radio receiver imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-26.9% per year) and Singapore (-5.4% per year).

In value terms, China ($X) constituted the largest supplier of radio receivers to Hong Kong SAR, comprising 79% of total imports. The second position in the ranking was held by the United States ($X), with a 4.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.0% per year) and Singapore (-8.2% per year).

Import Prices by Country

The average radio receiver import price stood at $X per unit in 2022, with a decrease of -74.6% against the previous year. In general, the import price showed a deep slump. The most prominent rate of growth was recorded in 2021 an increase of 41% against the previous year. As a result, import price attained the peak level of $X per unit, and then shrank sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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