Vietnam: Radio Navigation Apparatus Market 2024

Radio Navigation Apparatus Market Size in Vietnam

In 2021, the Vietnamese radio navigation apparatus market increased by 1.3% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a deep setback. Radio navigation apparatus consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Radio Navigation Apparatus Production in Vietnam

In value terms, radio navigation apparatus production expanded notably to $X in 2021 estimated in export price. In general, production, however, showed a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 24%. Radio navigation apparatus production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Radio Navigation Apparatus Exports

Exports from Vietnam

In 2021, the amount of radio navigational aid apparatus exported from Vietnam soared to X tons, growing by 42% on the previous year. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 3,748%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, radio navigation apparatus exports totaled $X in 2021. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 143% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), India (X tons) and the Czech Republic (X tons) were the main destinations of radio navigation apparatus exports from Vietnam, together comprising 41% of total exports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +267.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Russia ($X) and India ($X) appeared to be the largest markets for radio navigation apparatus exported from Vietnam worldwide, with a combined 40% share of total exports.

India, with a CAGR of +303.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average radio navigation apparatus export price stood at $X per kg in 2021, reducing by -20.1% against the previous year. Overall, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 an increase of 196% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per kg), while the average price for exports to Japan ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Radio Navigation Apparatus Imports

Imports into Vietnam

In 2021, radio navigation apparatus imports into Vietnam skyrocketed to X tons, growing by 47% compared with 2020. In general, imports showed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 114%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, radio navigation apparatus imports soared to $X in 2021. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 134%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of radio navigation apparatus to Vietnam, accounting for a 68% share of total imports. Moreover, radio navigation apparatus imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Lithuania (X tons), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea amounted to +66.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+41.2% per year) and Lithuania (+163.2% per year).

In value terms, South Korea ($X) constituted the largest supplier of radio navigational aid apparatus to Vietnam, comprising 56% of total imports. The second position in the ranking was held by Lithuania ($X), with a 15% share of total imports. It was followed by China, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled +54.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+175.9% per year) and China (+31.7% per year).

Import Prices by Country

The average radio navigation apparatus import price stood at $X per ton in 2021, rising by 1.6% against the previous year. Overall, the import price, however, saw a abrupt decline. The pace of growth was the most pronounced in 2016 an increase of 9.6%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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