Vietnam: Market for Pen Or Pencil Sets 2024

Market Size for Pen Or Pencil Sets in Vietnam

The Vietnamese pen or pencil sets market dropped to $X in 2022, shrinking by -5.4% against the previous year. In general, consumption, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2021 when the market value increased by 5.3%. Pen or pencil sets consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Pen Or Pencil Sets in Vietnam

In value terms, pen or pencil sets production fell to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt decline. The growth pace was the most rapid in 2021 when the production volume increased by 7.2% against the previous year. Pen or pencil sets production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Pen Or Pencil Sets

Exports from Vietnam

In 2022, the amount of pen or pencil sets exported from Vietnam soared to X units, picking up by 50% on the previous year's figure. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 228% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, pen or pencil sets exports surged to $X in 2022. In general, exports showed a significant expansion. The growth pace was the most rapid in 2016 when exports increased by 301%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X units), the United States (X units) and Canada (X units) were the main destinations of pen or pencil sets exports from Vietnam, together comprising 75% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +124.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pen or pencil sets exported from Vietnam were the United States ($X), China ($X) and Canada ($X), with a combined 64% share of total exports. These countries were followed by Hong Kong SAR, the UK, Australia and Italy, which together accounted for a further 32%.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +152.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average pen or pencil sets export price stood at $X per unit in 2022, reducing by -17.3% against the previous year. Overall, the export price saw a perceptible descent. The most prominent rate of growth was recorded in 2016 when the average export price increased by 68%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+7.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Pen Or Pencil Sets

Imports into Vietnam

In 2022, purchases abroad of pen or pencil sets increased by 1.6% to X units, rising for the fourth consecutive year after two years of decline. In general, imports, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2016 with an increase of 3,195%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, pen or pencil sets imports reduced slightly to $X in 2022. Over the period under review, imports, however, saw a drastic downturn. The growth pace was the most rapid in 2016 with an increase of 3,672%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of pen or pencil sets to Vietnam, with a 95% share of total imports. Moreover, pen or pencil sets imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.3% per year) and Taiwan (Chinese) (-45.0% per year).

In value terms, China ($X) constituted the largest supplier of pen or pencil sets to Vietnam, comprising 80% of total imports. The second position in the ranking was taken by Japan ($X), with a 2.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.9% per year) and Taiwan (Chinese) (-25.6% per year).

Import Prices by Country

The average pen or pencil sets import price stood at $X per unit in 2022, dropping by -5.8% against the previous year. In general, the import price recorded a deep contraction. The pace of growth was the most pronounced in 2013 when the average import price increased by 24% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+37.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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