Vietnam: Market for Parts Of Harvester And Threshers 2022

Market Size for Parts Of Harvester And Threshers in Vietnam

In 2021, the Vietnamese market for parts of harvester and threshers increased by 0.5% to $X, rising for the third consecutive year after five years of decline. In general, consumption, however, saw a abrupt contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Parts Of Harvester And Threshers in Vietnam

In value terms, parts of harvester and threshers production declined to $X in 2021 estimated in export price. In general, production, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 15%. Parts of harvester and threshers production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Parts Of Harvester And Threshers

Exports from Vietnam

Parts of harvester and threshers exports from Vietnam dropped remarkably to X units in 2021, with a decrease of -40.7% against the previous year. Overall, exports, however, posted pronounced growth. The growth pace was the most rapid in 2017 when exports increased by 165%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, parts of harvester and threshers exports declined markedly to $X in 2021. In general, exports, however, recorded a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 74% against the previous year. As a result, the exports attained the peak of $X, and then contracted notably in the following year.

Exports by Country

The United States (X units) was the main destination for parts of harvester and threshers exports from Vietnam, with a 58% share of total exports. Moreover, parts of harvester and threshers exports to the United States exceeded the volume sent to the second major destination, the Philippines (X units), ninefold. Myanmar (X units) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +21.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-4.7% per year) and Myanmar (+50.7% per year).

In value terms, the United States ($X) remains the key foreign market for parts of harvester and threshers exports from Vietnam, comprising 67% of total exports. The second position in the ranking was held by the Philippines ($X), with a 6.8% share of total exports. It was followed by Chile, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+9.5% per year) and Chile (+74.5% per year).

Export Prices by Country

The average export price for parts of harvester and threshers stood at $X per unit in 2021, rising by 33% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to the Dominican Republic ($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 Chile (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Parts Of Harvester And Threshers

Imports into Vietnam

After four years of growth, supplies from abroad of parts of harvester and threshers decreased by -23% to X units in 2021. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 90%. As a result, imports reached the peak of X units, and then reduced rapidly in the following year.

In value terms, parts of harvester and threshers imports contracted significantly to $X in 2021. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 93%. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of parts of harvester and threshers to Vietnam, with a 86% share of total imports. Moreover, parts of harvester and threshers imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +37.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+30.0% per year) and Spain (-5.9% per year).

In value terms, China ($X) constituted the largest supplier of parts of harvester and threshers to Vietnam, comprising 88% of total imports. The second position in the ranking was held by the United States ($X), with a 5.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +28.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.8% per year) and Spain (-3.1% per year).

Import Prices by Country

In 2021, the average import price for parts of harvester and threshers amounted to $X per unit, flattening at the previous year. Over the period under review, the import price continues to indicate a mild decline. The pace of growth was the most pronounced in 2019 an increase of 3.3%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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