Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR - 2024
Contents:
- Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR (CIF) - 2022
- Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR (FOB) - 2022
- Imports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR
- Exports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR
Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR (CIF) - 2022
The average import price for cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses stood at $27 per thousand units in 2022, increasing by 13% against the previous year. Over the last decade, it increased at an average annual rate of +4.7%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 16%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($52 per thousand units), while the price for Macao SAR ($23 per thousand units) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR (FOB) - 2022
In 2022, the average export price for cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses amounted to $18 per thousand units, waning by -20.2% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 32% against the previous year. Over the period under review, the average export prices hit record highs at $23 per thousand units in 2021, and then dropped markedly in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($28 per thousand units), while the average price for exports to Turkey ($16 per thousand units) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR
For the third year in a row, Hong Kong SAR recorded decline in purchases abroad of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses, which decreased by -11.4% to 18B units in 2022. In general, imports continue to indicate a significant curtailment. The smallest decline of -8.9% was in 2021. Imports peaked at 36B units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, imports of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses amounted to $503M in 2022. Overall, imports saw a abrupt curtailment. Over the period under review, imports of attained the peak figure at $837M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 223 | 210 | 182 | 208 | -2.3% |
| China | 237 | 52.9 | 65.0 | 48.6 | -41.0% |
| Japan | 93.7 | 76.9 | 68.0 | 47.7 | -20.2% |
| South Korea | 65.1 | 41.3 | 29.7 | 39.8 | -15.1% |
| Singapore | 36.2 | 11.1 | 12.1 | 15.4 | -24.8% |
| Turkey | 3.2 | 6.5 | 14.5 | 9.0 | 41.2% |
| Macao SAR | 26.8 | 10.4 | 11.3 | 8.4 | -32.1% |
| Poland | 0.2 | 0.1 | 0.7 | 8.3 | 246.2% |
| Others | 152 | 109 | 119 | 118 | -8.1% |
| Total | 837 | 518 | 502 | 503 | -15.6% |
Top Suppliers of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes to Hong Kong SAR in 2022:
- Indonesia (9.1B units)
- China (2.1B units)
- Japan (2.1B units)
- South Korea (1.7B units)
- Singapore (0.7B units)
- Turkey (0.4B units)
- Poland (0.4B units)
- Macao SAR (0.4B units)
Exports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR
For the third year in a row, Hong Kong SAR recorded decline in overseas shipments of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses, which decreased by -26.5% to 19B units in 2022. Overall, exports continue to indicate a precipitous setback. The smallest decline of -5% was in 2021. The exports peaked at 55B units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, exports of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses contracted significantly to $353M in 2022. Over the period under review, exports saw a sharp setback. The pace of growth appeared the most rapid in 2021 with an increase of 5.1%. Over the period under review, the exports of reached the maximum at $1.2B in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 493 | 188 | 144 | 124 | -36.9% |
| Taiwan (Chinese) | 35.2 | 27.2 | 59.6 | 50.6 | 12.9% |
| Singapore | 169 | 81.6 | 133 | 36.4 | -40.1% |
| Vietnam | 216 | 103 | 162 | 35.4 | -45.3% |
| Macao SAR | 38.5 | 37.0 | 37.9 | 29.3 | -8.7% |
| India | 1.2 | 0.7 | 5.3 | 14.7 | 130.5% |
| Turkey | N/A | N/A | 0.5 | 10.7 | 2040.0% |
| Cambodia | 12.0 | 10.0 | 5.3 | 6.0 | -20.6% |
| Philippines | 28.8 | 23.1 | 12.0 | 5.3 | -43.1% |
| United Arab Emirates | 36.5 | 10.3 | 4.5 | 0.8 | -72.0% |
| Others | 141 | 92.4 | 39.5 | 39.9 | -34.3% |
| Total | 1,171 | 574 | 603 | 353 | -32.9% |
Top Export Markets for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes from Hong Kong SAR in 2022:
- China (7.4B units)
- Taiwan (Chinese) (2.7B units)
- Singapore (2.1B units)
- Vietnam (2.0B units)
- Macao SAR (1.0B units)
- India (0.9B units)
- Turkey (0.7B units)
- Philippines (0.3B units)
- Cambodia (0.3B units)
- United Arab Emirates (0.1B units)
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