South-Eastern Asia: Hand Tools Market 2024

Hand Tools Market Size in South-Eastern Asia

In 2022, after two years of decline, there was growth in the Southeast Asian hand tools market, when its value increased by X% to $X. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Hand Tools Production in South-Eastern Asia

In value terms, hand tools production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

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Hand Tools Exports

Exports in South-Eastern Asia

In 2022, exports of hand tools in South-Eastern Asia expanded rapidly to X tons, picking up by X% on 2021 figures. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, hand tools exports amounted to $X in 2022. Total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam represented the main exporting country with an export of about X tons, which amounted to X% of total exports. Thailand (X tons) ranks second in terms of the total exports with a X% share, followed by Singapore (X%) and Malaysia (X%). The following exporters - Indonesia (X tons) and Brunei Darussalam (X tons) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brunei Darussalam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Singapore ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Among the main exporting countries, Vietnam, with a CAGR of X%, recorded 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 2022, the export price in South-Eastern Asia amounted to $X per ton, approximately equating the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Hand Tools Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of hand tools increased by X% to X tons, rising for the second year in a row after three years of decline. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, hand tools imports rose markedly to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons), Malaysia (X tons) and Thailand (X tons) was the key importer of hand tools in South-Eastern Asia, constituting X% of total import. It was distantly followed by Singapore (X tons), Myanmar (X tons) and Vietnam (X tons), together constituting a X% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hand tools importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Singapore ($X), with a combined X% share of total imports. Malaysia, Vietnam, the Philippines and Myanmar lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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