Vietnam: Iron Household Articles Market 2024

Iron Household Articles Market Size in Vietnam

The Vietnamese iron household articles market contracted to $X in 2022, dropping by X% against the previous year. In general, consumption recorded a pronounced descent. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Iron Household Articles Production in Vietnam

In value terms, iron household articles production stood at $X in 2022 estimated in export price. Over the period under review, production saw a perceptible shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X%. Iron household articles production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Iron Household Articles Exports

Exports from Vietnam

In 2022, exports of table, kitchen or household articles and parts of iron from Vietnam soared to X tons, jumping by X% against the previous year. Over the period under review, exports showed resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron household articles exports soared to $X in 2022. Overall, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

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

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

In value terms, the United States ($X) remains the key foreign market for table, kitchen or household articles and parts of iron exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

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

Export Prices by Country

The average iron household articles export price stood at $X per ton in 2022, growing 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 2020 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Australia ($X per ton), while the average price for exports to the UK ($X per ton) and South Korea ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Household Articles Imports

Imports into Vietnam

In 2022, supplies from abroad of table, kitchen or household articles and parts of iron decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, iron household articles imports dropped to $X in 2022. Overall, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest iron household articles supplier to Vietnam, with a X% share of total imports. Moreover, iron household articles imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of table, kitchen or household articles and parts of iron to Vietnam, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and South Korea (X% per year).

Import Prices by Country

The average iron household articles import price stood at $X per ton in 2022, increasing 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 2014 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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