Vietnam: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Vietnam

The Vietnamese interchangeable spanner socket market contracted to $X in 2022, falling by X% against the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value 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. Over the period under review, the market reached the peak level at $X in 2021, and then fell in the following year.

Interchangeable Spanner Socket Production in Vietnam

In value terms, interchangeable spanner socket production dropped to $X in 2022 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2022: its value 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Interchangeable Spanner Socket Exports

Exports from Vietnam

In 2022, overseas shipments of interchangeable spanner sockets increased by X% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, interchangeable spanner socket exports reduced notably to $X in 2022. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined dramatically in the following year.

Exports by Country

China (X tons) was the main destination for interchangeable spanner socket exports from Vietnam, accounting for a X% share of total exports. Moreover, interchangeable spanner socket exports to China exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

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

In value terms, China ($X) remains the key foreign market for interchangeable spanner sockets exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

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

Export Prices by Country

The average interchangeable spanner socket export price stood at $X per ton in 2022, dropping by X% against the previous year. In general, export price indicated a slight expansion 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, interchangeable spanner socket export price decreased by X% against 2019 indices. The growth pace was the most rapid in 2017 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 ($X per ton) and China ($X per ton), while the average price for exports to Japan ($X per ton) and Taiwan (Chinese) ($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 Japan (X%), while the prices for the other major destinations experienced a decline.

Interchangeable Spanner Socket Imports

Imports into Vietnam

In 2022, after four years of growth, there was significant decline in overseas purchases of interchangeable spanner sockets, when their volume decreased by X% to X tons. Overall, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, interchangeable spanner socket imports reduced sharply to $X in 2022. In general, imports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then declined markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of interchangeable spanner socket to Vietnam, accounting for a X% share of total imports. Moreover, interchangeable spanner socket imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) constituted the largest supplier of interchangeable spanner sockets to Vietnam, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average interchangeable spanner socket import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Japan ($X per ton), while the price for China ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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