Price for Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR - 2023
Contents:
- Price for Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR (FOB) - 2022
- Price for Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR (CIF) - 2023
- Exports of Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR
- Imports of Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR
Price for Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR (FOB) - 2022
In 2022, the average export price for machinery; parts of machinery of heading no. 8422 amounted to $82,058 per ton, surging by 28% against the previous year. Overall, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% 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 machinery; parts of machinery of heading no. 8422 increased by +73.2% against 2016 indices. The growth pace was the most rapid in 2013 an increase of 52% against the previous year. As a result, the export price attained the peak level of $107,505 per ton. From 2014 to 2022, the average export prices remained at a somewhat 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 China ($310,362 per ton), while the average price for exports to Spain ($32,261 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 Poland (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR (CIF) - 2023
The average import price for machinery; parts of machinery of heading no. 8422 stood at $67,666 per ton in November 2023, waning by -45.1% against the previous month. Overall, the import price saw a perceptible reduction. The pace of growth appeared the most rapid in May 2023 an increase of 92% m-o-m. As a result, import price attained the peak level of $271K per ton. From June 2023 to November 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Italy ($403K per ton), while the price for China ($39,578 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Germany (+9.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR
In 2022, approx. 712 tons of machinery; parts of machinery of heading no. 8422 were exported from Hong Kong SAR; shrinking by -32.3% against the year before. In general, exports showed a dramatic decline. The smallest decline of -22% was in 2020.
In value terms, exports of machinery; parts of machinery of heading no. 8422 dropped to $58M in 2022. Over the period under review, exports showed a dramatic decline.
| Export of Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 67.9 | 43.7 | 34.2 | 33.1 | -21.3% |
| Germany | 18.8 | 14.5 | 5.7 | 6.3 | -30.5% |
| Poland | 6.7 | 9.0 | 10.9 | 5.2 | -8.1% |
| India | 0.1 | 0.1 | 0.3 | 4.0 | 242.0% |
| Turkey | 7.8 | 6.4 | 4.0 | 2.4 | -32.5% |
| United States | 10.1 | 7.3 | 3.5 | 1.9 | -42.7% |
| Spain | 2.4 | 3.4 | 2.7 | 0.4 | -45.0% |
| Macao SAR | 0.4 | 0.2 | 0.2 | 0.1 | -37.0% |
| Others | 4.0 | 5.0 | 5.9 | 5.0 | 7.7% |
| Total | 118 | 89.5 | 67.6 | 58.4 | -20.9% |
Top Export Markets for Machinery; Parts of Machinery of Heading No. 8422 from Hong Kong SAR in 2022:
- Germany (171.5 tons)
- Poland (154.7 tons)
- China (106.6 tons)
- Turkey (71.0 tons)
- India (55.1 tons)
- United States (48.9 tons)
- Spain (11.3 tons)
- Macao SAR (8.3 tons)
Imports of Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR
For the third year in a row, Hong Kong SAR recorded decline in purchases abroad of machinery; parts of machinery of heading no. 8422, which decreased by -58.4% to 661 tons in 2022. In general, imports recorded a sharp reduction. The smallest decline of -2.8% was in 2021.
In value terms, imports of machinery; parts of machinery of heading no. 8422 dropped sharply to $57M in 2022. Overall, imports saw a dramatic curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 10%.
| Import of Machinery; Parts of Machinery of Heading No. 8422 in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 63.0 | 41.7 | 53.6 | 22.5 | -29.1% |
| Italy | 40.8 | 19.6 | 15.9 | 15.4 | -27.7% |
| Japan | 14.5 | 14.4 | 14.4 | 11.3 | -8.0% |
| Germany | 4.0 | 3.0 | 4.1 | 2.6 | -13.4% |
| United States | 3.1 | 4.6 | 4.2 | 2.0 | -13.6% |
| Taiwan (Chinese) | 1.7 | 0.2 | 0.7 | 1.5 | -4.1% |
| Others | 2.5 | 1.8 | 1.4 | 1.9 | -8.7% |
| Total | 130 | 85.4 | 94.3 | 57.1 | -24.0% |
Top Suppliers of Machinery; Parts of Machinery of Heading No. 8422 to Hong Kong SAR in 2022:
- China (487.4 tons)
- Japan (54.8 tons)
- Italy (31.9 tons)
- United States (29.1 tons)
- Germany (25.8 tons)
- Taiwan (Chinese) (10.8 tons)
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