Vietnam: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Vietnam

In 2022, after three years of decline, there was growth in the Vietnamese household sewing machine market, when its value increased by X% to $X. Overall, consumption continues to indicate a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Household Sewing Machine Production in Vietnam

In value terms, household sewing machine production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

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Household Sewing Machine Exports

Exports from Vietnam

In 2022, after ten years of growth, there was significant decline in overseas shipments of household sewing machines, when their volume decreased by X% to X units. In general, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2021, and then contracted in the following year.

In value terms, household sewing machine exports fell dramatically to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for household sewing machine exports from Vietnam, with a X% share of total exports. Moreover, household sewing machine exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the Netherlands (X% per year).

In value terms, the United States ($X) remains the key foreign market for household sewing machines exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average household sewing machine export price stood at $X per unit in 2022, waning by X% against the previous year. Overall, the export price faced a deep downturn. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Russia ($X per unit) and Turkey ($X per unit), while the average price for exports to Canada ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced a decline.

Household Sewing Machine Imports

Imports into Vietnam

In 2022, approx. X units of household sewing machines were imported into Vietnam; shrinking by X% against the previous year's figure. In general, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, household sewing machine imports fell notably to $X in 2022. Over the period under review, imports faced a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of X%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of household sewing machine to Vietnam, accounting for a X% share of total imports. Moreover, household sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%.

In value terms, China ($X) constituted the largest supplier of household sewing machines to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%.

Import Prices by Country

The average household sewing machine import price stood at $X per unit in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Taiwan (Chinese) amounted to $X per unit.

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

Source: IndexBox Platform

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