Hong Kong SAR, China: Electric Blanket Market 2024

Electric Blanket Market Size in Hong Kong SAR, China

In 2021, the Hong Kong electric blanket market was finally on the rise to reach $X after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Electric Blanket Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of electric blankets were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, saw a slight reduction. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, electric blanket exports skyrocketed to $X in 2021. In general, exports recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ireland (X units) was the main destination for electric blanket exports from Hong Kong SAR, with a 65% share of total exports. Moreover, electric blanket exports to Ireland exceeded the volume sent to the second major destination, the United States (X units), fivefold. The third position in this ranking was held by China (X units), with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume to Ireland stood at +401.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-11.3% per year) and China (-18.2% per year).

In value terms, Ireland ($X) emerged as the key foreign market for electric blankets exports from Hong Kong SAR, comprising 54% of total exports. The second position in the ranking was taken by China ($X), with a 20% share of total exports. It was followed by the United States, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ireland amounted to +332.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-11.0% per year) and the United States (-4.0% per year).

Export Prices by Country

The average electric blanket export price stood at $X per unit in 2021, waning by -10.8% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 52% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Blanket Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of electric blankets increased by 97% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 137%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, electric blanket imports surged to $X in 2021. Overall, imports, however, saw a perceptible decline. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of electric blanket to Hong Kong SAR, with a 91% share of total imports. Moreover, electric blanket imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 1.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.4% per year) and Taiwan (Chinese) (-5.7% per year).

In value terms, China ($X) constituted the largest supplier of electric blankets to Hong Kong SAR, comprising 82% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.5% per year) and Taiwan (Chinese) (-3.7% per year).

Import Prices by Country

In 2021, the average electric blanket import price amounted to $X per unit, growing by 38% against the previous year. Overall, the import price, however, continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2017 an increase of 48%. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average 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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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