Singapore: Hand Tools Market Overview 2021

Hand Tools Market Size in Singapore

The Singaporean hand tools market contracted to $X in 2019, reducing 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). In general, consumption, however, continues to indicate a mild slump. The pace of growth appeared the most rapid in 2010 when the market value increased by X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Hand Tools Exports

Exports from Singapore

In 2019, overseas shipments of hand tools decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. As a result, exports reached the peak of X tonnes. From 2015 to 2019, the growth exports failed to regain the momentum.

In value terms, hand tools exports contracted to $X in 2019. Over the period under review, exports, however, posted a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, exports reached the peak of $X. From 2018 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tonnes) was the main destination for hand tools exports from Singapore, accounting for a X% share of total exports. Moreover, hand tools exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tonnes), twofold. The third position in this ranking was occupied by the Philippines (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+X% per year) and the Philippines (-X% per year).

In value terms, the largest markets for hand tools exported from Singapore were Indonesia ($X), Malaysia ($X) and the Philippines ($X), together comprising X% of total exports.

Among the main countries of destination, the Philippines saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2019, the average hand tools export price amounted to $X per tonne, increasing by X% against the previous year. Overall, the export price enjoyed resilient growth. The growth pace was the most rapid in 2011 an increase of X% year-to-year. Over the period under review, average export prices reached the peak figure in 2019 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major external markets. In 2019, the country with the highest price was India ($X per tonne), while the average price for exports to Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines, while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Singapore

Hand tools imports into Singapore declined slightly to X tonnes in 2019, falling by -X% against 2018. In general, imports saw a pronounced setback. The growth pace was the most rapid in 2010 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2011; however, from 2012 to 2019, imports failed to regain the momentum.

In value terms, hand tools imports fell to $X in 2019. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2010 when imports increased by X% year-to-year. Imports peaked at $X in 2011; however, from 2012 to 2019, imports stood at a somewhat lower figure.

Imports by Country

China (X tonnes), Sweden (X tonnes) and Germany (X tonnes) were the main suppliers of hand tools imports to Singapore, with a combined X% share of total imports. These countries were followed by the U.S., Switzerland, Taiwan (Chinese), Japan, Malaysia, India, the UK and France, which together accounted for a further X 2007 to 2019, the biggest increases were in Switzerland, while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Switzerland ($X) constituted the largest hand tools suppliers to Singapore, together accounting for X% of total imports.

Switzerland saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hand tools import price stood at $X per tonne in 2019, with a decrease of -X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2010 an increase of X% y-o-y. Over the period under review, average import prices reached the maximum at $X per tonne in 2018, and then reduced in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2019, the countries with the highest prices were Switzerland ($X per tonne) and Japan ($X per tonne), while the price for the U.S. ($X per tonne) and China ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Sweden, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hand tools in the world?

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The countries with the highest volumes of hand tools consumption in 2019 were China (577K tonnes), the U.S. (341K tonnes) and Japan (112K tonnes), together comprising 35% of global consumption. These countries were followed by Italy, Germany, the UK, Brazil, Russia, France, Canada, Viet Nam, South Korea and Indonesia, which together accounted for a further 25%.

What are the largest producers of hand tools in the world?

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China (1.7M tonnes) constituted the country with the largest volume of hand tools production, comprising approx. 63% of total volume. Moreover, hand tools production in China exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (176K tonnes), tenfold. The third position in this ranking was occupied by Italy (115K tonnes), with a 4.3% share.

What are the leading suppliers of hand tools to Singapore?

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In value terms, the largest hand tools suppliers to Singapore were Sweden ($52M), Germany ($49M) and Switzerland ($48M), together accounting for 47% of total imports.

What are the leading importers of hand tools from Singapore?

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In value terms, Indonesia ($37M), Malaysia ($24M) and the Philippines ($21M) constituted the largest markets for hand tools exported from Singapore worldwide, with a combined 46% share of total exports.

What is the average export price for hand tools in Singapore?

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The average hand tools export price stood at $23,958 per tonne in 2019, with an increase of 1.5% against the previous year.

What is the average import price for hand tools in Singapore?

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The average hand tools import price stood at $13,542 per tonne in 2019, falling by -9% against the previous year.