Singapore: Tobacco Making Machinery Market 2024

Tobacco Making Machinery Market Size in Singapore

In 2022, the Singaporean tobacco making machinery market was finally on the rise to reach $X after two years of decline. In general, consumption enjoyed a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Tobacco Making Machinery Production in Singapore

In value terms, tobacco making machinery production totaled less than $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with a decrease of -57.6%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Tobacco Making Machinery Exports

Exports from Singapore

In 2022, the amount of machinery for the preparation or making up of tobacco exported from Singapore surged to X units, with an increase of 105% against 2021 figures. In general, exports recorded a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by 243% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, tobacco making machinery exports soared to $X in 2022. Over the period under review, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 187% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia (X units) was the main destination for tobacco making machinery exports from Singapore, accounting for a 74% share of total exports. Moreover, tobacco making machinery exports to Indonesia exceeded the volume sent to the second major destination, Vietnam (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Indonesia amounted to +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+22.6% per year) and Russia (-3.9% per year).

In value terms, Indonesia ($X) remains the key foreign market for machinery for the preparation or making up of tobacco exports from Singapore, comprising 73% of total exports. The second position in the ranking was held by Vietnam ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Indonesia stood at +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+23.5% per year) and Russia (-0.3% per year).

Export Prices by Country

The average tobacco making machinery export price stood at $X per unit in 2022, growing by 1.6% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 37%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Tobacco Making Machinery Imports

Imports into Singapore

In 2022, the amount of machinery for the preparation or making up of tobacco imported into Singapore soared to X units, growing by 307% against the previous year. Overall, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tobacco making machinery imports soared to $X in 2022. In general, imports posted a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X units) constituted the largest tobacco making machinery supplier to Singapore, accounting for a 68% share of total imports. Moreover, tobacco making machinery imports from Indonesia exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. The third position in this ranking was held by Germany (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to +26.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+40.4% per year) and Germany (+16.0% per year).

In value terms, Indonesia ($X) constituted the largest supplier of machinery for the preparation or making up of tobacco to Singapore, comprising 66% of total imports. The second position in the ranking was held by Italy ($X), with an 18% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia totaled +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+31.6% per year) and Germany (+14.7% per year).

Import Prices by Country

The average tobacco making machinery import price stood at $X per unit in 2022, waning by -12.3% against the previous year. Overall, the import price recorded a pronounced descent. The pace of growth was the most pronounced in 2020 a decrease of -1.5% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 countries with the highest prices were Italy ($X per unit) and the UK ($X per unit), while the price for Germany ($X per unit) and Indonesia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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