Hong Kong SAR, China: Sawnwood (Non-Coniferous) Market 2024

Sawnwood (Non-Coniferous) Market Size in Hong Kong SAR, China

In 2022, the Hong Kong sawnwood (non-coniferous) market increased by 65% to $X, rising for the second year in a row after seven years of decline. Over the period under review, consumption, however, showed a abrupt descent. Sawnwood (non-coniferous) consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Sawnwood (Non-Coniferous) Production in Hong Kong SAR, China

In value terms, sawnwood (non-coniferous) production contracted to $X in 2022 estimated in export price. Overall, production showed a drastic downturn. The pace of growth appeared the most rapid in 2015 when the production volume increased by 117% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Sawnwood (Non-Coniferous) Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of sawnwood (non-coniferous) were finally on the rise to reach X cubic meters for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, saw a significant curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 57% against the previous year. The exports peaked at X cubic meters in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, sawnwood (non-coniferous) exports surged to $X in 2022. In general, exports, however, saw a sharp reduction. The pace of growth appeared the most rapid in 2014 with an increase of 41%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Macao SAR (X cubic meters) and China (X cubic meters) were the main destinations of sawnwood (non-coniferous) exports from Hong Kong SAR.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Macao SAR (with a CAGR of -16.7%).

In value terms, Macao SAR ($X) and China ($X) constituted the largest markets for sawnwood (non-coniferous) exported from Hong Kong SAR worldwide.

Among the main countries of destination, Macao SAR, with a CAGR of -13.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average sawnwood (non-coniferous) export price stood at $X per cubic meter in 2022, growing by 6.1% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices attained the maximum at $X per cubic meter in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external 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 Macao SAR totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sawnwood (Non-Coniferous) Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of sawnwood (non-coniferous) increased by 30% to X cubic meters, rising for the second year in a row after three years of decline. Overall, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 236% against the previous year. Imports peaked at X cubic meters in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, sawnwood (non-coniferous) imports skyrocketed to $X in 2022. In general, imports, however, faced a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 149%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X cubic meters) constituted the largest sawnwood (non-coniferous) supplier to Hong Kong SAR, with a 68% share of total imports. Moreover, sawnwood (non-coniferous) imports from Malaysia exceeded the figures recorded by the second-largest supplier, Thailand (X cubic meters), fourfold. China (X cubic meters) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia totaled +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-3.2% per year) and China (-19.7% per year).

In value terms, Malaysia ($X) constituted the largest supplier of sawnwood (non-coniferous) to Hong Kong SAR, comprising 71% of total imports. The second position in the ranking was held by Thailand ($X), with an 18% share of total imports. It was followed by Brazil, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+1.0% per year) and Brazil (+19.7% per year).

Import Prices by Country

The average sawnwood (non-coniferous) import price stood at $X per cubic meter in 2022, increasing by 46% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Canada ($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 China (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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