Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR - 2023
Contents:
- Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR (CIF) - 2023
- Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR (FOB) - 2022
- Imports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR
- Exports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR
Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR (CIF) - 2023
In October 2023, the average import price for petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s amounted to $570 per ton, declining by -10.3% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 an increase of 14% m-o-m. Over the period under review, average import prices attained the peak figure at $672 per ton in July 2023; however, from August 2023 to October 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($737 per ton), while the price for Indonesia ($484 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Singapore (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR (FOB) - 2022
The average export price for petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s stood at $1,467 per ton in 2022, picking up by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2018 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Macao SAR.
From 2012 to 2022, the rate of growth in terms of prices for Macao SAR amounted to +2.9% per year.
Imports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR
In 2022, supplies from abroad of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s decreased by -3.6% to 972K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 2.6%.
In value terms, imports of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s soared to $700M in 2022. Overall, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by 59%. Over the period under review, imports of reached the maximum in 2022 and are likely to continue growth in the immediate term.
| Import of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 218 | 159 | 309 | 334 | 15.3% |
| China | 48.0 | 13.9 | 1.8 | 95.4 | 25.7% |
| Malaysia | 29.3 | 52.3 | 58.8 | 81.8 | 40.8% |
| South Korea | 54.6 | 39.2 | 42.5 | 55.1 | 0.3% |
| Papua New Guinea | 36.9 | 42.3 | 53.8 | 49.9 | 10.6% |
| Australia | 24.6 | 21.8 | 17.6 | 40.1 | 17.7% |
| United Arab Emirates | N/A | N/A | N/A | 31.0 | 0% |
| Brunei Darussalam | N/A | N/A | 40.1 | 12.0 | -70.1% |
| Thailand | 31.7 | 0.1 | 0.3 | 0.5 | -74.9% |
| Others | 9.8 | 0.1 | N/A | 0.1 | -78.3% |
| Total | 453 | 329 | 524 | 700 | 15.6% |
Top Suppliers of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** to Hong Kong SAR in 2022:
- Singapore (413.7K tons)
- Malaysia (147.9K tons)
- China (118.7K tons)
- Papua New Guinea (80.9K tons)
- Australia (68.6K tons)
- South Korea (68.0K tons)
- United Arab Emirates (51.1K tons)
- Brunei Darussalam (22.9K tons)
- Thailand (0.5K tons)
Exports of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR
In 2022, approx. 9.1K tons of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s were exported from Hong Kong SAR; with a decrease of -14.6% against 2021 figures. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 43% against the previous year.
In value terms, exports of petroleum spirit for motor vehicles **LEGACY NON-WCO CODE**s stood at $13M in 2022. Overall, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 53% against the previous year.
| Export of Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 22.1 | 8.5 | 13.2 | 13.1 | -16.0% |
| Others | 0.1 | 0.2 | 0.1 | 0.3 | 44.2% |
| Total | 22.2 | 8.7 | 13.3 | 13.3 | -15.7% |
Top Export Markets for Petroleum Spirit for Motor Vehicles **LEGACY NON-WCO CODE** from Hong Kong SAR in 2022:
- Macao SAR (9.0K tons)
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