Vietnam: Skates Market 2024

Skates Market Size in Vietnam

In 2021, after three years of decline, there was significant growth in the Vietnamese skates market, when its value increased by 130% to $X. In general, consumption, however, saw a mild contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Skates Production in Vietnam

In value terms, skates production contracted to $X in 2021 estimated in export price. Overall, the total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +4.8% against 2015 indices. The pace of growth was the most pronounced in 2015 with an increase of 42%. Over the period under review, production reached the maximum level at $X in 2020, and then declined in the following year.

Skates Exports

Exports from Vietnam

After three years of growth, overseas shipments of ice skates and roller skates decreased by -36.8% to X tons in 2021. Over the period under review, exports, however, enjoyed a slight increase. The most prominent rate of growth was recorded in 2018 when exports increased by 82% against the previous year. The exports peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, skates exports fell rapidly to $X in 2021. In general, exports, however, enjoyed resilient growth. The growth pace was the most rapid in 2015 with an increase of 118%. The exports peaked at $X in 2020, and then shrank remarkably in the following year.

Exports by Country

The United States (X tons) was the main destination for skates exports from Vietnam, with a 52% share of total exports. Moreover, skates exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+12.3% per year) and Italy (-6.4% per year).

In value terms, the United States ($X) remains the key foreign market for ice skates and roller skates exports from Vietnam, comprising 52% of total exports. The second position in the ranking was taken by Canada ($X), with a 15% share of total exports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+17.0% per year) and Italy (-2.5% per year).

Export Prices by Country

The average skates export price stood at $X per ton in 2021, surging by 9.4% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 40%. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Russia ($X per ton) and the United States ($X per ton), while the average price for exports to China ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Skates Imports

Imports into Vietnam

For the fifth year in a row, Vietnam recorded growth in supplies from abroad of ice skates and roller skates, which increased by 38% to X tons in 2021. In general, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by 128% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, skates imports surged to $X in 2021. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 131%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of skates to Vietnam, with a 70% share of total imports. Moreover, skates imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +7.0%.

In value terms, China ($X) constituted the largest supplier of ice skates and roller skates to Vietnam, comprising 70% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 29% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +9.9%.

Import Prices by Country

In 2021, the average skates import price amounted to $X per ton, increasing by 3.8% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 40%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.7%).

Source: IndexBox Platform

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