Vietnam: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in Vietnam

The Vietnamese personal weighing machine market rose modestly to $X in 2022, surging by 4.3% against the previous year. In general, consumption, however, recorded a pronounced setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Personal Weighing Machine Production in Vietnam

In value terms, personal weighing machine production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt setback. The growth pace was the most rapid in 2020 with an increase of 51%. Personal weighing machine production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Personal Weighing Machine Exports

Exports from Vietnam

After three years of decline, overseas shipments of personal weighing machines increased by 27% to X units in 2022. Over the period under review, exports, however, saw a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 279% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, personal weighing machine exports rose significantly to $X in 2022. In general, exports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 146%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X units), the Czech Republic (X units) and Indonesia (X units) were the main destinations of personal weighing machine exports from Vietnam, with a combined 52% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +55.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) remains the key foreign market for personal weighing machines exports from Vietnam, comprising 35% of total exports. The second position in the ranking was held by Indonesia ($X), with a 14% share of total exports. It was followed by Lao People's Democratic Republic, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Poland stood at +34.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+5.9% per year) and Lao People's Democratic Republic (-9.4% per year).

Export Prices by Country

The average personal weighing machine export price stood at $X per unit in 2022, dropping by -10.4% against the previous year. Overall, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by 36% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to the Czech Republic ($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 the Czech Republic (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Personal Weighing Machine Imports

Imports into Vietnam

Personal weighing machine imports into Vietnam fell markedly to X units in 2022, with a decrease of -16.5% on the previous year's figure. Overall, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 120%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, personal weighing machine imports shrank to $X in 2022. In general, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2018 when imports increased by 191%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main personal weighing machine supplier to Vietnam, accounting for a 94% share of total imports. It was followed by Singapore (X units), with a 1.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+51.2% per year) and Hong Kong SAR (-13.1% per year).

In value terms, China ($X) constituted the largest supplier of personal weighing machines to Vietnam, comprising 87% of total imports. The second position in the ranking was held by Singapore ($X), with a 6.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+53.5% per year) and Hong Kong SAR (-9.0% per year).

Import Prices by Country

The average personal weighing machine import price stood at $X per unit in 2022, surging by 3.4% against the previous year. In general, the import price, however, saw a slight slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 47%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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