Hong Kong SAR, China: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in Hong Kong SAR, China

In 2022, the Hong Kong jute and jute-like fibers market increased by X% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, faced a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Jute And Jute-Like Fibers in Hong Kong SAR, China

In value terms, jute and jute-like fibers production dropped modestly to $X in 2022 estimated in export price. Overall, production recorded a pronounced decrease. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

The average yield of jute and jute-like fibers in Hong Kong SAR was estimated at less than X kg per ha in 2022, remaining relatively unchanged against the previous year. Over the period under review, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the jute and jute-like fibers harvested area in Hong Kong SAR amounted to less than X ha, almost unchanged from 2021 figures. In general, the harvested area saw a relatively flat trend pattern.

Exports of Jute And Jute-Like Fibers

Exports from Hong Kong SAR, China

In 2022, exports of jute and jute-like fibers from Hong Kong SAR soared to X tons, rising by X% on the previous year. In general, exports posted a significant increase. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, jute and jute-like fibers exports rose notably to $X in 2022. Overall, exports showed a resilient expansion. The growth pace was the most rapid in 2015 when exports increased by X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for jute and jute-like fibers exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, jute and jute-like fibers exports to China exceeded the volume sent to the second major destination, Hungary (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (X% per year) and Bangladesh (X% per year).

In value terms, China ($X), Hungary ($X) and Bangladesh ($X) appeared to be the largest markets for jute and jute-like fibers exported from Hong Kong SAR worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Hungary, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average jute and jute-like fibers export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price recorded a deep downturn. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to China ($X 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 Bangladesh (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Jute And Jute-Like Fibers

Imports into Hong Kong SAR, China

In 2022, imports of jute and jute-like fibers into Hong Kong SAR soared to X tons, jumping by X% on 2021 figures. In general, imports, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, jute and jute-like fibers imports surged to $X in 2022. Over the period under review, imports enjoyed a temperate increase. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The Dominican Republic (X tons), Sri Lanka (X tons) and China (X tons) were the main suppliers of jute and jute-like fibers imports to Hong Kong SAR, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), the Dominican Republic ($X) and Sri Lanka ($X) appeared to be the largest jute and jute-like fibers suppliers to Hong Kong SAR, together accounting for X% of total imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average jute and jute-like fibers import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price posted buoyant growth. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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