
Vietnam - Belts and Bandoliers - Market Analysis, Forecast, Size, Trends and Insights
Vietnam: Belt And Bandolier Market 2023
Belt And Bandolier Market Size in Vietnam
The Vietnamese belt and bandolier market contracted to $X in 2021, falling by -4.1% against the previous year. In general, consumption saw a pronounced decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.
Belt And Bandolier Production in Vietnam
In value terms, belt and bandolier production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight descent. The pace of growth appeared the most rapid in 2014 when the production volume increased by 7.1% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.
Belt And Bandolier Exports
Exports from Vietnam
For the sixth year in a row, Vietnam recorded growth in overseas shipments of belts and bandoliers, which increased by 5.6% to X units in 2021. Over the period under review, exports recorded a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 54%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.
In value terms, belt and bandolier exports rose sharply to $X in 2021. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 86% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.
Exports by Country
The United States (X units) was the main destination for belt and bandolier exports from Vietnam, with a 56% share of total exports. Moreover, belt and bandolier exports to the United States exceeded the volume sent to the second major destination, Italy (X units), sixfold. China (X units) ranked third in terms of total exports with an 8.7% share.
From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +35.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+45.2% per year) and China (+88.4% per year).
In value terms, the United States ($X) remains the key foreign market for belt and bandolier exports from Vietnam, comprising 54% of total exports. The second position in the ranking was taken by China ($X), with a 9.6% share of total exports. It was followed by Germany, with a 6.7% share.
From 2012 to 2021, the average annual growth rate of value to the United States stood at +43.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+102.7% per year) and Germany (+16.3% per year).
Export Prices by Country
In 2021, the average belt and bandolier export price amounted to $X per unit, growing by 8.3% against the previous year. Over the period under review, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 34% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Italy ($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 Germany (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.
Belt And Bandolier Imports
Imports into Vietnam
In 2021, after four years of growth, there was decline in supplies from abroad of belts and bandoliers, when their volume decreased by -1.4% to X units. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 64%. Imports peaked at X units in 2020, and then dropped modestly in the following year.
In value terms, belt and bandolier imports dropped to $X in 2021. Overall, imports saw a slight reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 83%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.
Imports by Country
In 2021, China (X units) constituted the largest belt and bandolier supplier to Vietnam, accounting for a 65% share of total imports. Moreover, belt and bandolier imports from China exceeded the figures recorded by the second-largest supplier, Spain (X units), fivefold. The third position in this ranking was held by Italy (X units), with an 11% share.
From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.7% per year) and Italy (+4.1% per year).
In value terms, China ($X) constituted the largest supplier of belt and bandolier to Vietnam, comprising 70% of total imports. The second position in the ranking was taken by Spain ($X), with an 11% share of total imports. It was followed by Italy, with a 9.6% share.
From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+3.9% per year) and Italy (+0.4% per year).
Import Prices by Country
The average belt and bandolier import price stood at $X per unit in 2021, dropping by -10.3% against the previous year. In general, the import price showed a mild descent. The growth pace was the most rapid in 2016 an increase of 27%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from China ($X per unit) and France ($X per unit), while the price for Hong Kong SAR ($X per unit) and Italy ($X per unit) were amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.0%), while the prices for the other major suppliers experienced a decline.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the belt and bandolier market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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