Price for Electrical Fuses for Under 1000 V in Hong Kong SAR - 2023
Contents:
- Price for Electrical Fuses for Under 1000 V in Hong Kong SAR (FOB) - 2023
- Price for Electrical Fuses for Under 1000 V in Hong Kong SAR (CIF) - 2023
- Exports of Electrical Fuses for Under 1000 V in Hong Kong SAR
- Imports of Electrical Fuses for Under 1000 V in Hong Kong SAR
Price for Electrical Fuses for Under 1000 V in Hong Kong SAR (FOB) - 2023
In December 2023, the average export price for electrical fuses for under 1000 v amounted to $163 per thousand units, reducing by -15.7% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 70% month-to-month. The export price peaked at $193 per thousand units in November 2023, and then dropped significantly in the following month.
There were significant differences in the average prices for the major export markets. In December 2023, the country with the highest price was China ($200 per thousand units), while the average price for exports to the Philippines ($89.0 per thousand units) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Electrical Fuses for Under 1000 V in Hong Kong SAR (CIF) - 2023
In December 2023, the average import price for electrical fuses for under 1000 v amounted to $134 per thousand units, waning by -8.2% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in November 2023 when the average import price increased by 16% month-to-month. The import price peaked at $172 per thousand units in April 2023; however, from May 2023 to December 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was the Philippines ($427 per thousand units), while the price for India ($44.0 per thousand units) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by China (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Electrical Fuses for Under 1000 V in Hong Kong SAR
In 2022, shipments abroad of electrical fuses for under 1000 v decreased by -12.1% to 2.8B units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +15.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 36%. As a result, the exports reached the peak of 3.1B units, and then fell in the following year.
In value terms, exports of electrical fuses for under 1000 v contracted slightly to $464M in 2022. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +16.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.8% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 43% against the previous year. As a result, the exports reached the peak of $485M, and then declined slightly in the following year.
| Export of Electrical Fuses for Under 1000 V in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 175 | 208 | 263 | 221 | 8.1% |
| United States | 12.1 | 13.9 | 27.4 | 43.3 | 53.0% |
| Taiwan (Chinese) | 14.5 | 20.7 | 31.7 | 28.9 | 25.8% |
| Netherlands | 11.5 | 8.6 | 38.9 | 28.8 | 35.8% |
| Singapore | 16.4 | 16.9 | 18.3 | 26.5 | 17.3% |
| Germany | 2.3 | 3.6 | 20.0 | 18.7 | 101.1% |
| Japan | 15.8 | 15.1 | 14.4 | 15.5 | -0.6% |
| Mexico | 4.8 | 5.1 | 8.9 | 14.3 | 43.9% |
| Malaysia | 5.8 | 8.1 | 9.8 | 11.1 | 24.2% |
| Vietnam | 6.1 | 6.0 | 8.0 | 10.8 | 21.0% |
| South Korea | 5.3 | 6.6 | 8.5 | 9.6 | 21.9% |
| Thailand | 4.0 | 4.5 | 5.9 | 5.3 | 9.8% |
| United Kingdom | 6.3 | 9.8 | 5.7 | 4.7 | -9.3% |
| Others | 14.3 | 12.4 | 24.8 | 25.6 | 21.4% |
| Total | 294 | 340 | 485 | 464 | 16.4% |
Top Export Markets for Electrical Fuses for Under 1000 V from Hong Kong SAR in 2022:
- China (1308.6M units)
- United States (228.3M units)
- Singapore (161.8M units)
- Taiwan (Chinese) (149.3M units)
- Germany (123.1M units)
- Japan (113.7M units)
- Netherlands (105.7M units)
- South Korea (82.7M units)
- Vietnam (75.5M units)
- Malaysia (65.2M units)
- Mexico (60.3M units)
- Thailand (51.1M units)
- United Kingdom (47.6M units)
Imports of Electrical Fuses for Under 1000 V in Hong Kong SAR
In 2022, the amount of electrical fuses for under 1000 v imported into Hong Kong SAR shrank sharply to 2B units, which is down by -16.1% on 2021. Overall, imports saw a pronounced reduction. The growth pace was the most rapid in 2021 with an increase of 14%. As a result, imports reached the peak of 2.4B units, and then declined dramatically in the following year.
In value terms, imports of electrical fuses for under 1000 v contracted to $288M in 2022. The total import value increased at an average annual rate of +5.1% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 25% against the previous year. As a result, imports reached the peak of $326M, and then dropped in the following year.
| Import of Electrical Fuses for Under 1000 V in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 102 | 112 | 144 | 115 | 4.1% |
| Philippines | 34.1 | 33.8 | 44.6 | 41.9 | 7.1% |
| South Korea | 3.5 | 2.8 | 23.3 | 37.1 | 119.7% |
| United States | 29.3 | 21.0 | 28.0 | 35.7 | 6.8% |
| Japan | 22.3 | 28.3 | 30.5 | 15.4 | -11.6% |
| Taiwan (Chinese) | 13.4 | 10.8 | 12.0 | 10.9 | -6.7% |
| Thailand | 25.0 | 32.5 | 16.4 | 10.8 | -24.4% |
| India | 5.4 | 5.3 | 7.8 | 5.9 | 3.0% |
| Others | 12.8 | 14.3 | 19.5 | 14.5 | 4.2% |
| Total | 248 | 261 | 326 | 288 | 5.1% |
Top Suppliers of Electrical Fuses for Under 1000 V to Hong Kong SAR in 2022:
- China (974.9M units)
- United States (286.3M units)
- South Korea (153.8M units)
- India (139.7M units)
- Taiwan (Chinese) (107.1M units)
- Philippines (91.7M units)
- Japan (61.5M units)
- Thailand (44.3M units)
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