Vietnam: Market for Parts Of Harvester And Threshers 2024

Market Size for Parts Of Harvester And Threshers in Vietnam

After two years of growth, the Vietnamese market for parts of harvester and threshers decreased by -4.7% to $X in 2021. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Parts Of Harvester And Threshers in Vietnam

In value terms, parts of harvester and threshers production shrank to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 25% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Exports of Parts Of Harvester And Threshers

Exports from Vietnam

In 2021, the amount of parts of harvester and threshers exported from Vietnam dropped modestly to X units, waning by -4.8% on the previous year's figure. Overall, exports, however, saw prominent growth. The growth pace was the most rapid in 2017 with an increase of 163%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, parts of harvester and threshers exports skyrocketed to $X in 2021. In general, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 74% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United States (X units) was the main destination for parts of harvester and threshers exports from Vietnam, accounting for a 50% share of total exports. Moreover, parts of harvester and threshers exports to the United States exceeded the volume sent to the second major destination, the Philippines (X units), threefold. Thailand (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +24.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+46.1% per year) and Thailand (+96.4% per year).

In value terms, the United States ($X) remains the key foreign market for parts of harvester and threshers exports from Vietnam, comprising 56% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 16% share of total exports. It was followed by Thailand, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+51.1% per year) and Thailand (+122.8% per year).

Export Prices by Country

The average export price for parts of harvester and threshers stood at $X per unit in 2021, jumping by 21% against the previous year. In general, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 52% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Parts Of Harvester And Threshers

Imports into Vietnam

For the fifth year in a row, Vietnam recorded growth in supplies from abroad of parts of harvester and threshers, which increased by 14% to X units in 2021. Over the period under review, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 89% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, parts of harvester and threshers imports totaled $X in 2021. In general, imports recorded significant growth. The growth pace was the most rapid in 2020 when imports increased by 93% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of parts of harvester and threshers to Vietnam, with a 83% share of total imports. Moreover, parts of harvester and threshers imports from China exceeded the figures recorded by the second-largest supplier, Spain (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +41.3%.

In value terms, China ($X) constituted the largest supplier of parts of harvester and threshers to Vietnam, comprising 82% of total imports. The second position in the ranking was held by Spain ($X), with a 1.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +33.0%.

Import Prices by Country

The average import price for parts of harvester and threshers stood at $X per unit in 2021, approximately mirroring the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 6.9%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Spain amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.4%).

Source: IndexBox Platform