Singapore: Market for Parts Of Apparatus Of Hs 2025

Market Size for Parts Of Apparatus Of Hs in Singapore

In 2021, the Singaporean market for parts of apparatus of hs decreased by -21.4% to $X, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a deep slump. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Exports of Parts Of Apparatus Of Hs

Exports from Singapore

In 2021, overseas shipments of parts of apparatus of hs increased by 54% to X units, rising for the second year in a row after five years of decline. Overall, exports, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2014 when exports increased by 328%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, parts of apparatus of hs exports surged to $X in 2021. In general, exports posted modest growth. The growth pace was the most rapid in 2014 with an increase of 247%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Indonesia (X units), Hong Kong SAR (X units) and Malaysia (X units) were the main destinations of parts of apparatus of hs exports from Singapore, together comprising 25% of total exports. These countries were followed by Vietnam, Thailand, India, the United Arab Emirates, China, the United States, Taiwan (Chinese), Japan and South Korea, which together accounted for a further 27%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +25.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Hong Kong SAR ($X) appeared to be the largest markets for parts of apparatus of hs exported from Singapore worldwide, with a combined 20% share of total exports. These countries were followed by Malaysia, Vietnam, the United Arab Emirates, China, India, Japan, the United States, South Korea and Taiwan (Chinese), which together accounted for a further 24%.

In terms of the main countries of destination, Vietnam, with a CAGR of +14.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for parts of apparatus of hs stood at $X per unit in 2021, waning by -12.6% against the previous year. Over the period under review, the export price, however, continues to indicate a temperate expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 34%. The export price peaked at $X per unit in 2020, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Thailand ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Parts Of Apparatus Of Hs

Imports into Singapore

In 2021, purchases abroad of parts of apparatus of hs was finally on the rise to reach X units for the first time since 2014, thus ending a six-year declining trend. Overall, imports showed noticeable growth. The most prominent rate of growth was recorded in 2013 when imports increased by 169%. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, parts of apparatus of hs imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest parts of apparatus of hs supplier to Singapore, accounting for a 52% share of total imports. Moreover, parts of apparatus of hs imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), threefold. The third position in this ranking was held by Indonesia (X units), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.1% per year) and Indonesia (-3.0% per year).

In value terms, China ($X) constituted the largest supplier of parts of apparatus of hs to Singapore, comprising 52% of total imports. The second position in the ranking was held by Malaysia ($X), with an 8.1% share of total imports. It was followed by Indonesia, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+1.4% per year) and Indonesia (-12.1% per year).

Import Prices by Country

In 2021, the average import price for parts of apparatus of hs amounted to $X per unit, growing by 5.3% against the previous year. Over the period under review, the import price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2019 an increase of 56% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :