Vietnam: Spades And Shovels Market 2024

Spades And Shovels Market Size in Vietnam

In 2022, the Vietnamese spades and shovels market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption enjoyed pronounced growth. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Spades And Shovels Production in Vietnam

In value terms, spades and shovels production reached $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Spades And Shovels Exports

Exports from Vietnam

In 2022, shipments abroad of spades and shovels decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, spades and shovels exports shrank to $X in 2022. Overall, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for spades and shovels exports from Vietnam, with a X% share of total exports. Moreover, spades and shovels exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. Canada (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, the United States ($X) remains the key foreign market for spades and shovels exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

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

Export Prices by Country

The average spades and shovels export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spades and shovels export price decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Canada ($X per ton) and the UK ($X per ton) were 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.

Spades And Shovels Imports

Imports into Vietnam

In 2022, approx. X tons of spades and shovels were imported into Vietnam; increasing by X% against the previous year. Over the period under review, imports recorded a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, spades and shovels imports skyrocketed to $X in 2022. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) was the main spades and shovels supplier to Vietnam, accounting for a approx. X% share of total imports.

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

In value terms, China ($X) constituted the largest supplier of spades and shovels to Vietnam.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%.

Import Prices by Country

In 2022, the average spades and shovels import price amounted to $X per ton, picking up 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 was the most pronounced in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform

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