ASEAN: Mattocks And Rakes Market 2024

Mattocks And Rakes Market Size in ASEAN

The ASEAN mattocks and rakes market reduced to $X in 2022, dropping by -5.3% against the previous year. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Mattocks And Rakes Production in ASEAN

In value terms, mattocks and rakes production declined slightly to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 -12.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 38%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Mattocks And Rakes Exports

Exports in ASEAN

After two years of decline, overseas shipments of mattocks, picks, hoes and rakes increased by 2.1% to X tons in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 69%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, mattocks and rakes exports fell to $X in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -11.7% against 2019 indices. The pace of growth was the most pronounced in 2019 when exports increased by 59% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam represented the largest exporting country with an export of around X tons, which accounted for 62% of total exports. Thailand (X tons) ranks second in terms of the total exports with a 27% share, followed by Indonesia (8.2%). Malaysia (X tons) followed a long way behind the leaders.

Exports from Vietnam increased at an average annual rate of +11.7% from 2012 to 2022. At the same time, Indonesia (+22.0%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +22.0% from 2012-2022. By contrast, Malaysia (-2.0%) and Thailand (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Indonesia increased by +31 and +6.5 percentage points, respectively.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 99% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +12.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, reducing by -8.5% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 13%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.4%), while the other leaders experienced more modest paces of growth.

Mattocks And Rakes Imports

Imports in ASEAN

In 2022, purchases abroad of mattocks, picks, hoes and rakes decreased by -4.7% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a deep downturn. The growth pace was the most rapid in 2013 with an increase of 29% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, mattocks and rakes imports fell to $X in 2022. Overall, imports continue to indicate a perceptible reduction. The pace of growth was the most pronounced in 2019 when imports increased by 23% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons) and Myanmar (X tons) represented roughly 62% of total imports in 2022. Thailand (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (13%) and Cambodia (5.3%). Lao People's Democratic Republic (X tons) and the Philippines (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Lao People's Democratic Republic (with a CAGR of +19.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Malaysia ($X) constitutes the largest market for imported mattocks, picks, hoes and rakes in ASEAN, comprising 42% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 20% share of total imports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia stood at -5.6%. In the other countries, the average annual rates were as follows: Vietnam (+1.6% per year) and Thailand (+7.2% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, approximately reflecting the previous year. Import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mattocks and rakes import price increased by +56.5% against 2015 indices. The pace of growth was the most pronounced in 2018 an increase of 24%. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+29.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform