Vietnam: Measuring Instrument Market 2024

Measuring Instrument Market Size in Vietnam

The Vietnamese measuring instrument market declined to $X in 2022, waning 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 recorded a perceptible decline. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Measuring Instrument Exports

Exports from Vietnam

Measuring instrument exports from Vietnam skyrocketed to X units in 2022, with an increase of X% against 2021 figures. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, measuring instrument exports soared to $X in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for measuring instrument exports from Vietnam, accounting for a X% share of total exports. Moreover, measuring instrument exports to the United States exceeded the volume sent to the second major destination, Brazil (X units), twofold. The third position in this ranking was held by Cambodia (X units), with a X% share.

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

In value terms, the United States ($X) remains the key foreign market for instruments and apparatus for measuring or checking the flow or level of liquids exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Cambodia, with a X% share.

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

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Singapore ($X per unit) and Cambodia ($X per unit), while the average price for exports to the United States ($X per unit) and Brazil ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Vietnam

In 2022, after two years of decline, there was growth in purchases abroad of instruments and apparatus for measuring or checking the flow or level of liquids, when their volume increased by X% to X units. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, measuring instrument imports fell modestly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Germany (X units) and the United States (X units) were the main suppliers of measuring instrument imports to Vietnam, together accounting for X% of total imports. Japan, France, the UK, South Korea, Switzerland, Italy, Taiwan (Chinese), Mexico, the Netherlands and Thailand lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest measuring instrument suppliers to Vietnam were China ($X), Germany ($X) and the United States ($X), with a combined X% share of total imports. Japan, France, the UK, South Korea, Switzerland, Italy, Taiwan (Chinese), Mexico, the Netherlands and Thailand lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average measuring instrument import price amounted to $X per unit, standing approx. at the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The import price peaked at $X per unit in 2021, and then fell in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per unit) and South Korea ($X per unit), while the price for Thailand ($X per unit) and Mexico ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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