Singapore: Hand Stamp Market 2024

Hand Stamp Market Size in Singapore

In 2022, the Singaporean hand stamp market increased by 19% to $X, rising for the second consecutive year after two years of decline. Overall, consumption showed a relatively flat trend pattern. Hand stamp consumption peaked in 2022 and is likely to see gradual growth in the near future.

Hand Stamp Production in Singapore

In value terms, hand stamp production surged to $X in 2022 estimated in export price. In general, production, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of 1,700% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Hand Stamp Exports

Exports from Singapore

In 2022, hand stamp exports from Singapore reduced rapidly to X units, waning by -50.9% compared with the previous year's figure. Overall, exports recorded a deep slump. The growth pace was the most rapid in 2014 with an increase of 86%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, hand stamp exports shrank markedly to $X in 2022. In general, exports saw a slight contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 86% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for hand stamp exports from Singapore, with a 38% share of total exports. Moreover, hand stamp exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X units), twofold. The third position in this ranking was taken by the United States (X units), with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-14.0% per year) and the United States (+6.3% per year).

In value terms, Malaysia ($X) remains the key foreign market for stamps for use in the hand exports from Singapore, comprising 41% of total exports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total exports. It was followed by Vietnam, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia stood at +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-10.9% per year) and Vietnam (+23.0% per year).

Export Prices by Country

The average hand stamp export price stood at $X per unit in 2022, growing by 43% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Lebanon ($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 Vietnam (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Stamp Imports

Imports into Singapore

After two years of decline, overseas purchases of stamps for use in the hand increased by 15% to X units in 2022. Over the period under review, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2014 when imports increased by 17% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, hand stamp imports soared to $X in 2022. In general, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 27%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Malaysia (X units) and Germany (X units) were the main suppliers of hand stamp imports to Singapore, together comprising 78% of total imports. The United States, Austria, Japan, Vietnam, the Czech Republic, Taiwan (Chinese), Indonesia and Hong Kong SAR lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +11.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and Germany ($X) appeared to be the largest hand stamp suppliers to Singapore, with a combined 73% share of total imports. Vietnam, Austria, the United States, Japan, the Czech Republic, Taiwan (Chinese), Hong Kong SAR and Indonesia lagged somewhat behind, together accounting for a further 18%.

Vietnam, with a CAGR of +15.9%, recorded the highest rates of growth with regard to 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

The average hand stamp import price stood at $X per unit in 2022, increasing by 7.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 22%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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