Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in Hong Kong SAR - 2023

Contents:

1. Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in Hong Kong SAR (CIF) - 2023
2. Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in Hong Kong SAR (FOB) - 2022
3. Imports of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in Hong Kong SAR
4. Exports of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in Hong Kong SAR

Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in Hong Kong SAR (CIF) - 2023

In December 2023, the average import price for textile fabrics, rubberised; other than those of heading no. 5902s amounted to $3.3 per square meter, increasing by 5.9% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 161% m-o-m. The import price peaked at $7.8 per square meter in September 2023; however, from October 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 Singapore ($21.0 per square meter), while the price for China ($810 per thousand square meters) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Germany (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in Hong Kong SAR (FOB) - 2022

In 2022, the average export price for textile fabrics, rubberised; other than those of heading no. 5902s amounted to $4.8 per square meter, growing by 7.7% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for textile fabrics, rubberised; other than those of heading no. 5902s increased by +73.4% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 71%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($6.6 per square meter), while the average price for exports to Indonesia ($1 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in Hong Kong SAR

In 2022, imports of textile fabrics, rubberised; other than those of heading no. 5902s into Hong Kong SAR dropped to 1.9M square meters, which is down by -14.6% compared with the previous year's figure. In general, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 20%. Over the period under review, imports of reached the maximum at 2.6M square meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of textile fabrics, rubberised; other than those of heading no. 5902s declined markedly to $5.7M in 2022. Over the period under review, imports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. Imports peaked at $7.2M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Top Suppliers of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 to Hong Kong SAR in 2022:

1. United States (840.0K square meters)
2. China (576.6K square meters)
3. South Korea (154.5K square meters)
4. Japan (108.1K square meters)
5. Taiwan (Chinese) (102.1K square meters)
6. Canada (63.4K square meters)

Exports of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in Hong Kong SAR

For the third year in a row, Hong Kong SAR recorded decline in overseas shipments of textile fabrics, rubberised; other than those of heading no. 5902s, which decreased by -38.8% to 783K square meters in 2022. Over the period under review, exports showed a precipitous decline. The smallest decline of -4.2% was in 2021. Over the period under review, the exports of hit record highs at 2.1M square meters in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of textile fabrics, rubberised; other than those of heading no. 5902s declined markedly to $3.7M in 2022. In general, exports showed a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 0.5% against the previous year. As a result, the exports reached the peak of $5.7M. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Top Export Markets for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 from Hong Kong SAR in 2022:

1. China (465.8K square meters)
2. United States (93.9K square meters)
3. Bangladesh (57.1K square meters)
4. Vietnam (56.5K square meters)
5. Germany (21.4K square meters)
6. Indonesia (16.9K square meters)

Source: IndexBox Market Intelligence Platform