Vietnam: Photo Camera Market 2024

Photo Camera Market Size in Vietnam

The Vietnamese photo camera market soared to $X in 2022, picking up by 16% against the previous year. Over the period under review, consumption posted a moderate increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Photo Camera Production in Vietnam

In value terms, photo camera production reached $X in 2022 estimated in export price. Overall, production recorded a measured expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by 46% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Photo Camera Exports

Exports from Vietnam

After five years of growth, overseas shipments of photographic (other than cinematographic) cameras decreased by -8% to X units in 2022. In general, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 825% against the previous year. The exports peaked at X units in 2021, and then dropped in the following year.

In value terms, photo camera exports reduced slightly to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2013 with an increase of 974% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell in the following year.

Exports by Country

Hong Kong SAR (X units) was the main destination for photo camera exports from Vietnam, with a 87% share of total exports. Moreover, photo camera exports to Hong Kong SAR exceeded the volume sent to the second major destination, the United States (X units), more than tenfold. The third position in this ranking was held by Japan (X units), with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR stood at +52.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+34.3% per year) and Japan (+97.6% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for photographic (other than cinematographic) cameras exports from Vietnam, comprising 91% of total exports. The second position in the ranking was held by the United States ($X), with a 3.1% share of total exports. It was followed by Japan, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled +37.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+34.4% per year) and Japan (+86.9% per year).

Export Prices by Country

In 2022, the average photo camera export price amounted to $X per unit, with an increase of 3.4% against the previous year. In general, the export price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 when the average export price increased by 16% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average 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 Hong Kong SAR ($X per unit), while the average price for exports to the Netherlands ($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 Netherlands (+26.0%), while the prices for the other major destinations experienced mixed trend patterns.

Photo Camera Imports

Imports into Vietnam

In 2022, photo camera imports into Vietnam declined to X units, which is down by -14.4% compared with 2021 figures. Over the period under review, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 86% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, photo camera imports stood at $X in 2022. In general, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2013 when imports increased by 109%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest photo camera supplier to Vietnam, with a 51% share of total imports. Moreover, photo camera imports from China exceeded the figures recorded by the second-largest supplier, the Philippines (X units), threefold. Thailand (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-1.9% per year) and Thailand (+44.4% per year).

In value terms, the largest photo camera suppliers to Vietnam were China ($X), Singapore ($X) and the Philippines ($X), with a combined 57% share of total imports. South Korea, Thailand, Japan and Hong Kong SAR lagged somewhat behind, together accounting for a further 17%.

Thailand, with a CAGR of +39.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average photo camera import price stood at $X per unit in 2022, increasing by 24% against the previous year. Overall, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, photo camera import price decreased by -0.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 37% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Singapore ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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