Vietnam: Market for Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases 2024

Market Size for Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases in Vietnam

The Vietnamese market for non-electronic instruments for measuring or checking variables of liquids or gases fell remarkably to $X in 2021, which is down by -57.8% against the previous year. Over the period under review, consumption recorded a abrupt contraction. Non-electronic liquid or gas measurer consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases in Vietnam

In value terms, non-electronic liquid or gas measurer production declined sharply to $X in 2021 estimated in export price. In general, production showed a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 90% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases

Exports from Vietnam

In 2021, the amount of non-electronic instruments for measuring or checking variables of liquids or gases exported from Vietnam skyrocketed to X units, picking up by 113% against the previous year. Over the period under review, exports enjoyed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-electronic liquid or gas measurer exports surged to $X in 2021. In general, total exports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +25.9% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of 63% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

South Korea (X units) was the main destination for non-electronic liquid or gas measurer exports from Vietnam, with a 40% share of total exports. Moreover, non-electronic liquid or gas measurer exports to South Korea exceeded the volume sent to the second major destination, Japan (X units), twofold. China (X units) ranked third in terms of total exports with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +77.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+5.5% per year) and China (+25.6% per year).

In value terms, South Korea ($X) remains the key foreign market for non-electronic liquid or gas measurer exports from Vietnam, comprising 39% of total exports. The second position in the ranking was taken by Japan ($X), with an 18% share of total exports. It was followed by China, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value to South Korea totaled +65.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.9% per year) and China (+17.2% per year).

Export Prices by Country

In 2021, the average export price for non-electronic instruments for measuring or checking variables of liquids or gases amounted to $X per unit, shrinking by -41.3% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 an increase of 13%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to Taiwan (Chinese) ($X per unit) and the Netherlands ($X per unit), while the average price for exports to South Korea ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (-0.1%), while the prices for the other major destinations experienced a decline.

Imports of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases

Imports into Vietnam

In 2021, overseas purchases of non-electronic instruments for measuring or checking variables of liquids or gases decreased by -4.3% to X units, falling for the second consecutive year after five years of growth. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 134% against the previous year. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, non-electronic liquid or gas measurer imports soared to $X in 2021. Over the period under review, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 322%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of non-electronic liquid or gas measurer to Vietnam, accounting for a 40% share of total imports. Moreover, non-electronic liquid or gas measurer imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. China (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +35.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+14.3% per year) and China (+7.8% per year).

In value terms, Germany ($X) constituted the largest supplier of non-electronic liquid or gas measurer to Vietnam, comprising 40% of total imports. The second position in the ranking was taken by Japan ($X), with an 18% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +45.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+22.7% per year) and China (+15.7% per year).

Import Prices by Country

The average import price for non-electronic instruments for measuring or checking variables of liquids or gases stood at $X per unit in 2021, surging by 35% against the previous year. Overall, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-electronic liquid or gas measurer import price increased by +69.0% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 81%. The import price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Singapore ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for South Korea ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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