Hong Kong SAR, China: Coniferous Roundwood Market 2024

Coniferous Roundwood Market Size in Hong Kong SAR, China

In 2022, the Hong Kong coniferous roundwood market decreased by -99.3% to $X, falling for the third consecutive year after four years of growth. Overall, consumption continues to indicate a precipitous contraction. Coniferous roundwood consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Coniferous Roundwood Exports

Exports from Hong Kong SAR, China

In 2022, approx. X cubic meters of roundwood (coniferous) were exported from Hong Kong SAR; falling by -54% compared with 2021. In general, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 476% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, coniferous roundwood exports dropped remarkably to $X in 2022. Overall, exports, however, posted a strong expansion. The growth pace was the most rapid in 2017 with an increase of 654% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X cubic meters) was the main destination for coniferous roundwood exports from Hong Kong SAR, accounting for a 73% share of total exports. Moreover, coniferous roundwood exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X cubic meters), threefold.

From 2012 to 2022, the average annual growth rate of volume to China totaled +8.7%.

In value terms, China ($X) emerged as the key foreign market for roundwood (coniferous) exports from Hong Kong SAR, comprising 73% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at +14.0%.

Export Prices by Country

The average coniferous roundwood export price stood at $X per cubic meter in 2022, growing by 13% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coniferous roundwood export price increased by +51.4% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 43% against the previous year. The export price peaked at $X per cubic meter in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to Taiwan (Chinese) stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+31.0%), while the prices for the other major destinations experienced more modest paces of growth.

Coniferous Roundwood Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of roundwood (coniferous) decreased by -99% to X cubic meters, falling for the third year in a row after four years of growth. Over the period under review, imports saw a precipitous setback. The pace of growth was the most pronounced in 2018 when imports increased by 300%. Imports peaked at X cubic meters in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, coniferous roundwood imports fell dramatically to $X in 2022. In general, imports faced a sharp decrease. The most prominent rate of growth was recorded in 2018 with an increase of 450% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X cubic meters), Taiwan (Chinese) (X cubic meters) and New Zealand (X cubic meters) were the main suppliers of coniferous roundwood imports to Hong Kong SAR.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +37.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of roundwood (coniferous) to Hong Kong SAR, comprising 56% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+4.5% per year) and Taiwan (Chinese) (+24.2% per year).

Import Prices by Country

The average coniferous roundwood import price stood at $X per cubic meter in 2022, picking up by 3.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 an increase of 38% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2019 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Taiwan (Chinese) ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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