Vietnam: Primary Fiber Crops Market 2024

Primary Fiber Crops Market Size in Vietnam

The Vietnamese primary fiber crops market declined to $X in 2022, falling by X% against the previous year. In general, consumption, however, enjoyed a prominent increase. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Primary Fiber Crops Production in Vietnam

In value terms, primary fiber crops production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Primary Fiber Crops Exports

Exports from Vietnam

In 2022, shipments abroad of fiber crops (primary) was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, continue to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, primary fiber crops exports fell slightly to $X in 2022. In general, exports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for primary fiber crops exports from Vietnam, with a X% share of total exports. It was followed by Myanmar (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) remains the key foreign market for fiber crops (primary) exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Myanmar ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average primary fiber crops export price amounted to $X per ton, reducing by X% against the previous year. Overall, the export price recorded a slight slump. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton 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 Myanmar ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced a decline.

Primary Fiber Crops Imports

Imports into Vietnam

After two years of growth, overseas purchases of fiber crops (primary) decreased by X% to X tons in 2022. Overall, imports, however, posted a strong increase. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell modestly in the following year.

In value terms, primary fiber crops imports declined to $X in 2022. In general, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of primary fiber crops to Vietnam, with a X% share of total imports. Moreover, primary fiber crops imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was held by Australia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Australia (X% per year).

In value terms, the United States ($X), Brazil ($X) and Australia ($X) were the largest primary fiber crops suppliers to Vietnam, together comprising X% of total imports.

Australia, with a CAGR of X%, saw 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

The average primary fiber crops import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the import price showed a slight downturn. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and Argentina ($X per ton), while the price for the United States ($X per ton) and India ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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