Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Hong Kong SAR - 2023

Contents:

1. Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Hong Kong SAR (CIF) - 2022
2. Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Hong Kong SAR (FOB) - 2022
3. Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Hong Kong SAR
4. Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Hong Kong SAR

Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Hong Kong SAR (CIF) - 2022

In 2022, the average import price for cycles; parts, pedals and crank-gear, and parts thereoves amounted to $13,508 per ton, with an increase of 22% against the previous year. Overall, the import price continues to indicate strong growth. The most prominent rate of growth was recorded in 2018 an increase of 74% against the previous year. The import price peaked at $17,207 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($72,965 per ton), while the price for China ($4,256 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Hong Kong SAR (FOB) - 2022

In 2022, the average export price for cycles; parts, pedals and crank-gear, and parts thereoves amounted to $15,469 per ton, increasing by 32% against the previous year. In general, the export price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 an increase of 65% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($54,981 per ton), while the average price for exports to China ($10,291 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 Vietnam (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Hong Kong SAR

In 2022, overseas purchases of cycles; parts, pedals and crank-gear, and parts thereoves decreased by -48.9% to 147 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 110%. As a result, imports attained the peak of 288 tons, and then reduced rapidly in the following year.

In value terms, imports of cycles; parts, pedals and crank-gear, and parts thereoves dropped notably to $2M in 2022. Over the period under review, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 44% against the previous year.

Top Suppliers of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof to Hong Kong SAR in 2022:

1. China (59.6 tons)
2. Singapore (58.3 tons)
3. Taiwan (Chinese) (16.1 tons)
4. Japan (5.0 tons)
5. Germany (4.6 tons)

Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in Hong Kong SAR

In 2022, approx. 95 tons of cycles; parts, pedals and crank-gear, and parts thereoves were exported from Hong Kong SAR; waning by -64.6% compared with the year before. Overall, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 113%. As a result, the exports reached the peak of 268 tons, and then shrank rapidly in the following year.

In value terms, exports of cycles; parts, pedals and crank-gear, and parts thereoves shrank significantly to $1.5M in 2022. In general, exports continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2021 when exports increased by 90% against the previous year. As a result, the exports attained the peak of $3.1M, and then declined sharply in the following year.

Top Export Markets for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof from Hong Kong SAR in 2022:

1. China (70.2 tons)
2. Germany (6.4 tons)
3. Singapore (4.8 tons)
4. United States (4.3 tons)
5. Macao SAR (3.7 tons)
6. United Kingdom (1.6 tons)

Source: IndexBox Market Intelligence Platform