Wood fuel market in Hong Kong

Earlier Report Observations

The Hong Kong wood fuel market experienced a severe downturn in 2019, with total volume plunging by over 40% to 92 145 m³ from 160 846 m³ the previous year. This collapse was primarily driven by a dramatic drop in imports, which fell from 88 207 m³ to just 18 431 m³, while domestic production continued its gradual decline.

Following the 2019 shock, market size stabilized between 88 000 m³ and 89 000 m³ through 2022. A recovery emerged in 2023 as volume reached 96 994 m³, supported by rising import levels that year. Throughout the period, local production steadily decreased, falling from 75 489 m³ in 2018 to 69 541 m³ in 2023.

Production wood fuel in Hong Kong

In kind, 2017-2020, m³

Top producers of wood fuel, 2017-2020

World map of production of wood fuel, 2017-2020

Hong Kong's wood fuel production has declined for three consecutive years. In 2020, production reached 73 054 m³, marking a slight decrease of 1.6% compared to 2019. From 2017 to 2020, production fell by 4.8%, which translates to an average annual decline of 1.6%.

Annual dynamics of production in Hong Kong in kind, 2017-2020, m³

Exports wood fuel from Hong Kong

Exports in kind, m³

The market showed significant volatility during this period. Exports reached their lowest point in 2019 at 547 m³, with the largest decline that year at 80.8%. In 2020, exports surged to 969 m³, representing a sharp increase of 77.3% compared to 2019. The peak was recorded in 2017, resulting in a 5.9-fold variation between the maximum in 2017 and the minimum in 2019.

Annual dynamics of product's exports from Hong Kong in kind, 2017-2020, m³

From 2017 to 2020, China, Macao, and Asia (not elsewhere specified) were the primary markets for Hong Kong's wood fuel exports by volume. China accounted for 35.9% of exports, Macao for 29.1%, and Asia (not elsewhere specified) for 15.7%. Together, these three markets represented 80.7% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Hong Kong in kind, 2017-2020

Exports in value, K $ US

Hong Kong's wood fuel export value has declined for three consecutive years. In 2020, exports amounted to 290 K $ US, a decrease of 19.5% compared to the previous year. Over the period from 2017 to 2020, exports fell by 65.3%, with a compound annual growth rate (CAGR) of -29.7%.

Annual dynamics of product's exports from Hong Kong in value, 2017-2020, K $ US

From 2017 to 2020, Macao, China, and the United States were the key destinations for Hong Kong's wood fuel exports by value. Macao accounted for 36.9% of export value, China for 19.3%, and the United States for 16.5%. Collectively, these three markets made up 72.7% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Hong Kong in value, 2017-2020

Imports wood fuel to Hong Kong

Imports in kind, m³

Import volumes exhibited irregular changes, reflecting a volatile market environment. The largest increase occurred in 2018, with a rise of 385.7%, reaching a peak of 88 207 m³. In 2019, imports saw the largest decline at 79.1%. By 2020, imports dropped to 16 424 m³, a decrease of 10.9% compared to the previous year, marking the lowest point. Overall, there was a 5.4-fold shift between the maximum in 2018 and the minimum in 2020.

Annual dynamics of product's imports to Hong Kong in kind, 2017-2020, m³

From 2017 to 2020, the United Kingdom, China, and Indonesia were the core sources for Hong Kong's wood fuel imports by volume. The United Kingdom accounted for 52.4% of imports, China for 16.0%, and Indonesia for 8.7%. Together, these three countries represented 77.1% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Hong Kong in kind, 2017-2020

Imports in value, K $ US

Hong Kong's wood fuel import value declined for the second consecutive year. In 2020, imports registered 5 109 K $ US, indicating a reduction of 10.0% year-over-year. The maximum value was recorded in 2018 at 6 105 K $ US, with the largest increase that year at 28.4%. Between 2017 and 2020, imports increased by 7.4%, equating to an annualized growth rate of 2.4%.

Annual dynamics of product's imports to Hong Kong in value, 2017-2020, K $ US

From 2017 to 2020, the United Kingdom, Indonesia, and China were the main sources for Hong Kong's wood fuel imports by value. The United Kingdom accounted for 26.6% of import value, Indonesia for 17.2%, and China for 13.7%. Together, these three countries accounted for 57.5% of total imports, remaining the primary destinations.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Hong Kong in value, 2017-2020