Hong Kong SAR, China: Vices And Clamps Market 2024

Vices And Clamps Market Size in Hong Kong SAR, China

The Hong Kong vices and clamps market reduced to $X in 2022, declining by -7% against the previous year. Overall, consumption continues to indicate a perceptible decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vices And Clamps Production in Hong Kong SAR, China

In value terms, vices and clamps production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2015 when the production volume increased by 102%. Vices and clamps production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vices And Clamps Exports

Exports from Hong Kong SAR, China

Vices and clamps exports from Hong Kong SAR shrank dramatically to X tons in 2022, with a decrease of -49.3% on 2021 figures. In general, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2015 with an increase of 287% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, vices and clamps exports shrank rapidly to $X in 2022. Over the period under review, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 315%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for vices and clamps exports from Hong Kong SAR, accounting for a 32% share of total exports. Moreover, vices and clamps exports to China exceeded the volume sent to the second major destination, the UK (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled -21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+29.8% per year) and Germany (+22.4% per year).

In value terms, China ($X) remains the key foreign market for vices and clamps exports from Hong Kong SAR, comprising 32% of total exports. The second position in the ranking was taken by the UK ($X), with a 15% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+37.2% per year) and Germany (+29.3% per year).

Export Prices by Country

The average vices and clamps export price stood at $X per ton in 2022, standing approx. at the previous year. Overall, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vices and clamps export price decreased by -10.5% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 21%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per ton) and Japan ($X per ton), while the average price for exports to China ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vices And Clamps Imports

Imports into Hong Kong SAR, China

In 2022, vices and clamps imports into Hong Kong SAR shrank rapidly to X tons, which is down by -33.4% compared with 2021. In general, imports recorded a deep slump. The growth pace was the most rapid in 2016 with an increase of 55%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, vices and clamps imports declined sharply to $X in 2022. Overall, imports continue to indicate a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 52%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vices and clamps to Hong Kong SAR, accounting for a 59% share of total imports. Moreover, vices and clamps imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.9% per year) and the United States (-0.3% per year).

In value terms, China ($X) constituted the largest supplier of vices and clamps to Hong Kong SAR, comprising 59% of total imports. The second position in the ranking was held by Japan ($X), with a 10% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.8% per year) and the United States (-1.3% per year).

Import Prices by Country

In 2022, the average vices and clamps import price amounted to $X per ton, picking up by 5.8% against the previous year. Overall, the import price, however, showed a mild downturn. The most prominent rate of growth was recorded in 2020 when the average import price increased by 16%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the UK ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Singapore ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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