Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Hong Kong SAR - 2023

Contents:

1. Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Hong Kong SAR (CIF) - 2022
2. Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Hong Kong SAR (FOB) - 2022
3. Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in Hong Kong SAR
4. Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in Hong Kong SAR

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Hong Kong SAR (CIF) - 2022

In 2022, the average import price for cycles; parts thereof, wheel rims and spokeses amounted to $124,622 per ton, picking up by 35% against the previous year. Over the period under review, the import price posted a strong increase. The most prominent rate of growth was recorded in 2017 an increase of 90%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($237,985 per ton), while the price for Taiwan (Chinese) ($67,897 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+26.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Hong Kong SAR (FOB) - 2022

The average export price for cycles; parts thereof, wheel rims and spokeses stood at $74,154 per ton in 2022, rising by 23% against the previous year. In general, the export price recorded a significant increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 240%. The export price peaked at $74,554 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($169,924 per ton), while the average price for exports to the Philippines ($5,897 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 Norway (+37.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in Hong Kong SAR

In 2022, after three years of growth, there was significant decline in purchases abroad of cycles; parts thereof, wheel rims and spokeses, when their volume decreased by -74% to 28 tons. In general, imports continue to indicate a sharp shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 44%. As a result, imports reached the peak of 108 tons, and then dropped remarkably in the following year.

In value terms, imports of cycles; parts thereof, wheel rims and spokeses shrank sharply to $3.5M in 2022. Overall, imports saw a sharp reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 25%. As a result, imports attained the peak of $10M, and then contracted markedly in the following year.

Top Suppliers of Cycles; Parts Thereof, Wheel Rims and Spokes to Hong Kong SAR in 2022:

1. China (14.0 tons)
2. Italy (3.4 tons)
3. Taiwan (Chinese) (3.3 tons)
4. Germany (3.3 tons)
5. United States (3.0 tons)
6. Japan (0.7 tons)

Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in Hong Kong SAR

Exports of cycles; parts thereof, wheel rims and spokeses from Hong Kong SAR dropped dramatically to 39 tons in 2022, with a decrease of -65.6% compared with the previous year's figure. Over the period under review, exports saw a sharp shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 43% against the previous year.

In value terms, exports of cycles; parts thereof, wheel rims and spokeses contracted markedly to $2.9M in 2022. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 16%. As a result, the exports reached the peak of $6.9M, and then declined dramatically in the following year.

Top Export Markets for Cycles; Parts Thereof, Wheel Rims and Spokes from Hong Kong SAR in 2022:

1. United States (13.6 tons)
2. Philippines (5.2 tons)
3. France (3.1 tons)
4. Canada (2.3 tons)
5. Poland (2.3 tons)
6. China (1.9 tons)
7. Spain (1.9 tons)
8. United Kingdom (1.7 tons)
9. Italy (1.4 tons)
10. Norway (1.0 tons)
11. Belgium (0.9 tons)
12. Netherlands (0.7 tons)
13. Germany (0.6 tons)

Source: IndexBox Market Intelligence Platform