Vietnam: Shipping Market 2025

Shipping Market Size in Vietnam

In 2021, after three years of growth, there was significant decline in the Vietnamese shipping market, when its value decreased by -21% to $X. Over the period under review, consumption showed a abrupt slump. Shipping consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Shipping Production in Vietnam

In value terms, shipping production shrank notably to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of 74%. Shipping production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Shipping Exports

Exports from Vietnam

In 2021, shipments abroad of ships, vessels, ferry-boats for the transport of persons decreased by 0% to X units, falling for the second consecutive year after two years of growth. In general, exports saw a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of 600%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, shipping exports surged to $X in 2021. Over the period under review, exports enjoyed a temperate increase. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X units) was the main destination for shipping exports from Vietnam, accounting for a 56% share of total exports. Moreover, shipping exports to Saudi Arabia exceeded the volume sent to the second major destination, Thailand (X units), twofold. The third position in this ranking was held by Singapore (X units), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-4.7% per year) and Singapore (-16.9% per year).

In value terms, Singapore ($X) remains the key foreign market for ships, vessels, ferry-boats for the transport of persons exports from Vietnam, comprising 19% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 0.1% share of total exports. It was followed by Cambodia, with a 0.1% share.

From 2012 to 2021, the average annual growth rate of value to Singapore amounted to -6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-6.4% per year) and Cambodia (+2.4% per year).

Export Prices by Country

In 2021, the average shipping export price amounted to $X per unit, therefore, remained relatively stable against the previous year. Overall, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2016 an increase of 2,116%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Thailand ($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 Thailand (+36.1%), while the prices for the other major destinations experienced more modest paces of growth.

Shipping Imports

Imports into Vietnam

In 2021, after two years of growth, there was significant decline in supplies from abroad of ships, vessels, ferry-boats for the transport of persons, when their volume decreased by -26.7% to X units. Overall, imports, however, posted a resilient increase. The growth pace was the most rapid in 2020 with an increase of 275%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, shipping imports shrank dramatically to $X in 2021. In general, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 293% against the previous year. As a result, imports reached the peak of $X, and then contracted sharply in the following year.

Imports by Country

India (X units) and Singapore (X units) were the main suppliers of shipping imports to Vietnam.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +22.0%).

In value terms, the largest shipping suppliers to Vietnam were India ($X), Singapore ($X) and Malaysia ($X), together comprising 96% of total imports.

Among the main suppliers, Singapore, with a CAGR of +108.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average shipping import price amounted to $X per unit, picking up by 6.6% against the previous year. Over the period under review, the import price continues to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 118% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per unit), while the price for Singapore amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+204.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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