Vietnam: Market for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal 2024

Market Size for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Vietnam

The Vietnamese market for articles of goldsmiths’ wares of base metal clad with precious metal fell slightly to $X in 2022, with a decrease of -2.7% against the previous year. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.8% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Vietnam

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a notable increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 70% against the previous year. Over the period under review, production of attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Exports by Country

Taiwan (Chinese) (X kg) was the main destination for exports of articles of goldsmiths’ wares of base metal clad with precious metal from Vietnam, with a 75% share of total exports. Moreover, exports of articles of goldsmiths’ wares of base metal clad with precious metal to Taiwan (Chinese) exceeded the volume sent to the second major destination, the UK (X kg), ninefold. Denmark (X kg) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Taiwan (Chinese) amounted to +78.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+35.0% per year) and Denmark (+57.0% per year).

In value terms, Taiwan (Chinese) ($X), the UK ($X) and Denmark ($X) appeared to be the largest markets for precious metal-clad goldsmiths ware articles of base metals exported from Vietnam worldwide, together accounting for 94% of total exports.

Taiwan (Chinese), with a CAGR of +129.3%, saw the highest rates of growth with regard to 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

The average export price for articles of goldsmiths’ wares of base metal clad with precious metal stood at $X per ton in 2021, rising by 88% against the previous year. Over the period under review, the export price, however, showed a abrupt contraction. The growth pace was the most rapid in 2013 when the average export price increased by 185%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-12.9%), while the prices for the other major destinations experienced a decline.

Imports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Imports into Vietnam

In 2022, imports of articles of goldsmiths’ wares of base metal clad with precious metal into Vietnam plummeted to X tons, falling by -24.8% against the year before. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 724%. Imports peaked at X tons in 2021, and then contracted notably in the following year.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal contracted markedly to $X in 2022. Overall, imports saw a mild curtailment. The growth pace was the most rapid in 2021 when imports increased by 374%. As a result, imports attained the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2021, Spain (X kg) constituted the largest supplier of precious metal-clad goldsmiths ware articles of base metals to Vietnam, with a 43% share of total imports. Moreover, imports of articles of goldsmiths’ wares of base metal clad with precious metal from Spain exceeded the figures recorded by the second-largest supplier, France (X kg), threefold. Thailand (X kg) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to +36.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+24.9% per year) and Thailand (+17.2% per year).

In value terms, Singapore ($X), Spain ($X) and Thailand ($X) constituted the largest precious metal-clad goldsmiths ware articles of base metals suppliers to Vietnam, together comprising 85% of total imports. Italy, France, China and Taiwan (Chinese) lagged somewhat behind, together comprising a further 12%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +43.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for articles of goldsmiths’ wares of base metal clad with precious metal amounted to $X per ton, growing by 139% against the previous year. Overall, the import price, however, saw a pronounced setback. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+14.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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