Vietnam: Golf Equipment Market 2024

Golf Equipment Market Size in Vietnam

The Vietnamese golf equipment market surged to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, showed a deep setback. Golf equipment consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Golf Equipment Production in Vietnam

In value terms, golf equipment production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Golf equipment production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Golf Equipment Exports

Exports from Vietnam

In 2022, approx. X tons of golf clubs and other golf equipment were exported from Vietnam; falling by X% on the year before. In general, exports, however, showed mild growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, golf equipment exports fell markedly to $X in 2022. Overall, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then contracted notably in the following year.

Exports by Country

Myanmar (X tons) was the main destination for golf equipment exports from Vietnam, accounting for a X% share of total exports. Moreover, golf equipment exports to Myanmar exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for golf clubs and other golf equipment exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

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

Export Prices by Country

The average golf equipment export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

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

Golf Equipment Imports

Imports into Vietnam

In 2022, the amount of golf clubs and other golf equipment imported into Vietnam shrank notably to X tons, with a decrease of X% compared with the previous year. In general, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2021, and then declined dramatically in the following year.

In value terms, golf equipment imports dropped dramatically to $X in 2022. Over the period under review, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest golf equipment supplier to Vietnam, accounting for a X% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Japan (X% per year).

Import Prices by Country

The average golf equipment import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price showed a tangible expansion. The pace of growth appeared the most rapid in 2015 an increase of X%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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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