Singapore: Network Communications Equipment Market 2024

Network Communications Equipment Market Size in Singapore

After two years of growth, the Singaporean network communications equipment market decreased by -59.1% to $X in 2022. Overall, consumption, however, showed mild growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Network Communications Equipment Production in Singapore

In value terms, network communications equipment production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw pronounced growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 6,608%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Network Communications Equipment Exports

Exports from Singapore

In 2022, overseas shipments of network communications equipment increased by 94% to X units, rising for the third consecutive year after two years of decline. Overall, exports enjoyed buoyant growth. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, network communications equipment exports soared to $X in 2022. In general, exports recorded a measured increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X units) was the main destination for network communications equipment exports from Singapore, with a 49% share of total exports. Moreover, network communications equipment exports to Hong Kong SAR exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), sevenfold. China (X units) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR stood at +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+30.5% per year) and China (+11.4% per year).

In value terms, the largest markets for network communications equipment exported from Singapore were Hong Kong SAR ($X), the United States ($X) and Taiwan (Chinese) ($X), together comprising 56% of total exports.

Taiwan (Chinese), with a CAGR of +29.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average network communications equipment export price amounted to $X per unit, dropping by -4.3% against the previous year. Over the period under review, the export price continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2018 an increase of 39%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Hong Kong SAR ($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 Malaysia (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Network Communications Equipment Imports

Imports into Singapore

In 2022, purchases abroad of network communications equipment increased by 158% to X units for the first time since 2019, thus ending a two-year declining trend. In general, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, network communications equipment imports skyrocketed to $X in 2022. Over the period under review, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Taiwan (Chinese) (X units) constituted the largest supplier of network communications equipment to Singapore, accounting for a 46% share of total imports. Moreover, network communications equipment imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Vietnam (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled +42.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.1% per year) and Vietnam (+78.1% per year).

In value terms, the largest network communications equipment suppliers to Singapore were Taiwan (Chinese) ($X), Malaysia ($X) and China ($X), together comprising 66% of total imports. Vietnam, Thailand, the United States and Japan lagged somewhat behind, together accounting for a further 28%.

Vietnam, with a CAGR of +64.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average network communications equipment import price amounted to $X per unit, which is down by -21.9% against the previous year. Over the period under review, the import price showed a abrupt descent. The pace of growth was the most pronounced in 2018 an increase of 40%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+12.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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