South-Eastern Asia: Spades And Shovels Market 2025

Spades And Shovels Market Size in South-Eastern Asia

For the third consecutive year, the Southeast Asian spades and shovels market recorded decline in sales value, which decreased by -5.6% to $X in 2021. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Spades And Shovels Production in South-Eastern Asia

In value terms, spades and shovels production stood at $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.4% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 32% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Spades And Shovels Exports

Exports in South-Eastern Asia

In 2021, exports of spades and shovels in South-Eastern Asia skyrocketed to X tons, rising by 160% against the previous year. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 180%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, spades and shovels exports skyrocketed to $X in 2021. Overall, exports saw prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 253%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of spades and shovels, namely Vietnam, represented more than two-thirds of total export.

Vietnam was also the fastest-growing in terms of the spades and shovels exports, with a CAGR of +16.3% from 2012 to 2021. While the share of Vietnam (+19 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) also remains the largest spades and shovels supplier in South-Eastern Asia.

From 2012 to 2021, the average annual growth rate of value in Vietnam amounted to +21.1%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, declining by -35.6% against the previous year. Over the period under review, the export price, however, saw a temperate expansion. The growth pace was the most rapid in 2017 when the export price increased by 36%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Vietnam.

From 2012 to 2021, the rate of growth in terms of prices for Vietnam amounted to +4.1% per year.

Spades And Shovels Imports

Imports in South-Eastern Asia

Spades and shovels imports fell modestly to X tons in 2021, which is down by -2.4% against 2020 figures. Over the period under review, imports recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 with an increase of 21% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, spades and shovels imports skyrocketed to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) was the largest importer of spades and shovels, constituting 42% of total imports. The Philippines (X tons) ranks second in terms of the total imports with a 15% share, followed by Myanmar (11%), Thailand (10%), Vietnam (9.4%) and Cambodia (7.5%).

Imports into Malaysia decreased at an average annual rate of -10.6% from 2012 to 2021. At the same time, Myanmar (+43.6%), Thailand (+8.3%) and Cambodia (+6.3%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +43.6% from 2012-2021. Vietnam experienced a relatively flat trend pattern. By contrast, the Philippines (-6.2%) illustrated a downward trend over the same period. Myanmar (+11 p.p.), Thailand (+7.3 p.p.), Cambodia (+4.9 p.p.) and Vietnam (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia saw its share reduced by -26.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest spades and shovels importing markets in South-Eastern Asia were Malaysia ($X), the Philippines ($X) and Vietnam ($X), with a combined 78% share of total imports. These countries were followed by Thailand, Cambodia and Myanmar, which together accounted for a further 15%.

Myanmar, with a CAGR of +31.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, increasing by 37% against the previous year. Over the period under review, the import price enjoyed a resilient expansion. The growth pace was the most rapid in 2018 when the import price increased by 60%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+30.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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