Hong Kong SAR, China: Wood Flat Pallet Market 2024

Wood Flat Pallet Market Size in Hong Kong SAR, China

The Hong Kong wood flat pallet market shrank rapidly to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, posted pronounced growth. Wood flat pallet consumption peaked at $X in 2021, and then shrank dramatically in the following year.

Wood Flat Pallet Exports

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of flat pallets and pallet collars of wood decreased by X% to X units in 2022. Over the period under review, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, wood flat pallet exports contracted notably to $X in 2022. In general, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2021, and then fell sharply in the following year.

Exports by Country

China (X units) was the main destination for wood flat pallet exports from Hong Kong SAR, with a X% share of total exports. Moreover, wood flat pallet exports to China exceeded the volume sent to the second major destination, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%.

In value terms, China ($X) remains the key foreign market for flat pallets and pallet collars of wood exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to X%.

Export Prices by Country

The average wood flat pallet export price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then reduced rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the United States amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%).

Wood Flat Pallet Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of flat pallets and pallet collars of wood decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X units, and then declined notably in the following year.

In value terms, wood flat pallet imports reduced to $X in 2022. Overall, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, China (X units) was the main wood flat pallet supplier to Hong Kong SAR, accounting for a X% share of total imports. It was followed by Macao SAR (X units), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Macao SAR (X% per year) and Thailand (X% per year).

In value terms, China ($X) constituted the largest supplier of flat pallets and pallet collars of wood to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by Macao SAR ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Macao SAR (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average wood flat pallet import price amounted to $X per unit, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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