Price for Clothing; Parts, Knitted or Crocheted in Hong Kong SAR - 2023
Contents:
- Price for Clothing; Parts, Knitted or Crocheted in Hong Kong SAR (FOB) - 2022
- Price for Clothing; Parts, Knitted or Crocheted in Hong Kong SAR (CIF) - 2022
- Exports of Clothing; Parts, Knitted or Crocheted in Hong Kong SAR
- Imports of Clothing; Parts, Knitted or Crocheted in Hong Kong SAR
Price for Clothing; Parts, Knitted or Crocheted in Hong Kong SAR (FOB) - 2022
In 2022, the average export price for clothing; parts, knitted or crocheted amounted to $14,583 per ton, increasing by 22% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, clothing; parts, knitted or crocheted export price increased by +64.7% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($20,932 per ton), while the average price for exports to the United States ($6,240 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 China (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Clothing; Parts, Knitted or Crocheted in Hong Kong SAR (CIF) - 2022
The average import price for clothing; parts, knitted or crocheted stood at $22,722 per ton in 2022, growing by 57% against the previous year. In general, the import price saw a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
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 Belgium ($54,540 per ton), while the price for China ($19,873 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+16.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Clothing; Parts, Knitted or Crocheted in Hong Kong SAR
In 2022, shipments abroad of clothing; parts, knitted or crocheted decreased by -65.3% to 640 tons, falling for the second year in a row after two years of growth. Over the period under review, exports faced a sharp decrease. The pace of growth was the most pronounced in 2020 when exports increased by 16% against the previous year. As a result, the exports attained the peak of 2.6K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, clothing; parts, knitted or crocheted exports declined notably to $9.3M in 2022. In general, exports recorded a dramatic curtailment. The growth pace was the most rapid in 2020 when exports increased by 28% against the previous year. As a result, the exports attained the peak of $30M. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Clothing; Parts, Knitted or Crocheted in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.5 | 10.8 | 9.0 | 4.3 | 7.1% |
| Vietnam | 5.2 | 7.0 | 6.5 | 2.7 | -19.6% |
| United States | 8.4 | 8.2 | 3.9 | 0.9 | -52.5% |
| Cambodia | 5.1 | 2.3 | 2.1 | 0.6 | -51.0% |
| Indonesia | 0.1 | 0.2 | 0.2 | 0.1 | 0.0% |
| Others | 1.6 | 2.0 | 0.5 | 0.6 | -27.9% |
| Total | 23.9 | 30.5 | 22.1 | 9.3 | -27.0% |
Top Export Markets for Clothing; Parts, Knitted or Crocheted from Hong Kong SAR in 2022:
- China (207.1 tons)
- United States (150.2 tons)
- Vietnam (138.9 tons)
- Cambodia (100.2 tons)
- Indonesia (16.4 tons)
Imports of Clothing; Parts, Knitted or Crocheted in Hong Kong SAR
For the third consecutive year, Hong Kong SAR recorded decline in supplies from abroad of clothing; parts, knitted or crocheted, which decreased by -56.4% to 407 tons in 2022. Over the period under review, imports saw a dramatic slump. The smallest decline of -23.2% was in 2020.
In value terms, clothing; parts, knitted or crocheted imports declined rapidly to $9.2M in 2022. Overall, imports saw a dramatic setback. The smallest decline of -21.1% was in 2020.
| Import of Clothing; Parts, Knitted or Crocheted in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 21.5 | 17.5 | 11.6 | 7.4 | -29.9% |
| Belgium | 0.4 | 0.5 | 0.6 | 1.5 | 55.4% |
| Vietnam | 1.3 | 0.3 | 1.1 | 0.1 | -57.5% |
| Others | 0.3 | 0.3 | 0.2 | 0.3 | 0.0% |
| Total | 23.6 | 18.6 | 13.5 | 9.2 | -26.9% |
Top Suppliers of Clothing; Parts, Knitted or Crocheted to Hong Kong SAR in 2022:
- China (370.1 tons)
- Belgium (27.9 tons)
- Vietnam (2.8 tons)
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