Hong Kong SAR, China: Wood Tool Market 2025

Wood Tool Market Size in Hong Kong SAR, China

In 2021, after three years of decline, there was growth in the Hong Kong wood tool market, when its value increased by 2.7% to $X. Overall, consumption, however, saw pronounced growth. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Wood Tool Production in Hong Kong SAR, China

In value terms, wood tool production reached $X in 2021 estimated in export price. In general, production, however, continues to indicate strong growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 120% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Wood Tool Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of tools of wood increased by 4.4% to X tons, rising for the third consecutive year after three years of decline. In general, exports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 177%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, wood tool exports soared to $X in 2021. Overall, exports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2015 when exports increased by 73% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X tons), the United States (X tons) and the UK (X tons) were the main destinations of wood tool exports from Hong Kong SAR, together comprising 69% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +29.3%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for tools of wood exports from Hong Kong SAR, comprising 48% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +36.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-16.2% per year) and China (-20.7% per year).

Export Prices by Country

The average wood tool export price stood at $X per ton in 2021, increasing by 13% against the previous year. In general, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood tool export price increased by +59.9% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 41% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Tool Imports

Imports into Hong Kong SAR, China

In 2021, imports of tools of wood into Hong Kong SAR surged to X tons, picking up by 19% on 2020 figures. Overall, imports, however, saw a deep contraction. The growth pace was the most rapid in 2014 when imports increased by 55% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, wood tool imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2014 when imports increased by 34%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of wood tool to Hong Kong SAR, with a approx. 98% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -9.3%.

In value terms, China ($X) constituted the largest supplier of tools of wood to Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -8.6%.

Import Prices by Country

In 2021, the average wood tool import price amounted to $X per ton, remaining stable against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 55%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.8% per year.

Source: IndexBox Platform

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