Hong Kong SAR, China: Unmanufactured Tobacco Market 2024

Unmanufactured Tobacco Market Size in Hong Kong SAR, China

The Hong Kong unmanufactured tobacco market contracted rapidly to $X in 2022, declining by -23.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption faced a abrupt contraction. Unmanufactured tobacco consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Unmanufactured Tobacco Exports

Exports from Hong Kong SAR, China

Unmanufactured tobacco exports from Hong Kong SAR fell modestly to X tons in 2022, reducing by -4.7% compared with 2021. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2015 when exports increased by 60%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, unmanufactured tobacco exports shrank to $X in 2022. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 151%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Switzerland (X tons) was the main destination for unmanufactured tobacco exports from Hong Kong SAR, with a 50% share of total exports. Moreover, unmanufactured tobacco exports to Switzerland exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was taken by Malaysia (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Switzerland amounted to +53.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-14.4% per year) and Malaysia (+57.6% per year).

In value terms, Switzerland ($X) remains the key foreign market for tobacco (unmanufactured) exports from Hong Kong SAR, comprising 44% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with an 18% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Switzerland amounted to +76.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (+16.8% per year) and China (-18.4% per year).

Export Prices by Country

In 2022, the average unmanufactured tobacco export price amounted to $X per ton, which is down by -6.5% against the previous year. Over the period under review, the export price, however, posted measured growth. The pace of growth appeared the most rapid in 2017 an increase of 78% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+112.9%), while the prices for the other major destinations experienced more modest paces of growth.

Unmanufactured Tobacco Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of tobacco (unmanufactured) decreased by -9.9% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports saw a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 46% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, unmanufactured tobacco imports reduced remarkably to $X in 2022. In general, imports faced a deep contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 67% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Brazil (X tons) and Zimbabwe (X tons) were the main suppliers of unmanufactured tobacco imports to Hong Kong SAR, together comprising 91% of total imports. These countries were followed by the United States, which accounted for a further 7.3%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +1.6%), while imports for the other leaders experienced a decline.

In value terms, the largest unmanufactured tobacco suppliers to Hong Kong SAR were Brazil ($X), China ($X) and Zimbabwe ($X), with a combined 83% share of total imports. The United States lagged somewhat behind, comprising a further 15%.

The United States, with a CAGR of +2.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average unmanufactured tobacco import price stood at $X per ton in 2022, falling by -20.4% against the previous year. In general, the import price continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2021 an increase of 23% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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