Hong Kong SAR, China: Spades And Shovels Market 2025

Spades And Shovels Market Size in Hong Kong SAR, China

The Hong Kong spades and shovels market rose modestly to $X in 2021, with an increase of 3.6% against the previous year. In general, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +48.6% against 2018 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in the near future.

Spades And Shovels Production in Hong Kong SAR, China

In value terms, spades and shovels production declined to $X in 2021 estimated in export price. Over the period under review, production posted strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 74%. Spades and shovels production peaked at $X in 2020, and then reduced modestly in the following year.

Spades And Shovels Exports

Exports from Hong Kong SAR, China

In 2021, spades and shovels exports from Hong Kong SAR contracted markedly to X tons, which is down by -62.1% on 2020. Over the period under review, exports showed a deep setback. The pace of growth appeared the most rapid in 2018 when exports increased by 660%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, spades and shovels exports shrank sharply to $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 839% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for spades and shovels exports from Hong Kong SAR, with a 42% share of total exports. Moreover, spades and shovels exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Australia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+12.8% per year) and Australia (+15.4% per year).

In value terms, the United States ($X) emerged as the key foreign market for spades and shovels exports from Hong Kong SAR, comprising 42% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total exports. It was followed by Australia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+20.1% per year) and Australia (+23.1% per year).

Export Prices by Country

The average spades and shovels export price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spades and shovels export price increased by +28.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Macao SAR ($X per ton) and China ($X per ton), while the average price for exports to the United States ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Spades And Shovels Imports

Imports into Hong Kong SAR, China

In 2021, the amount of spades and shovels imported into Hong Kong SAR soared to X tons, growing by 17% against 2020 figures. In general, imports, however, showed a drastic downturn. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, spades and shovels imports surged to $X in 2021. Over the period under review, imports, however, saw a abrupt decrease. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest spades and shovels supplier to Hong Kong SAR, with a 61% share of total imports. Moreover, spades and shovels imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from China totaled -11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+53.9% per year) and Japan (-13.3% per year).

In value terms, China ($X) constituted the largest supplier of spades and shovels to Hong Kong SAR, comprising 61% of total imports. The second position in the ranking was held by Germany ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+59.2% per year) and Japan (-10.0% per year).

Import Prices by Country

The average spades and shovels import price stood at $X per ton in 2021, increasing by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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