Vietnam: Threshing Machinery Market 2024

Threshing Machinery Market Size in Vietnam

The Vietnamese threshing machinery market expanded slightly to $X in 2022, rising by 1.8% against the previous year. Over the period under review, consumption, however, saw a abrupt slump. The pace of growth was the most pronounced in 2020 when the market value increased by 7.5% against the previous year. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Threshing Machinery Production in Vietnam

In value terms, threshing machinery production rose modestly to $X in 2022 estimated in export price. In general, production, however, recorded a deep contraction. The pace of growth was the most pronounced in 2020 when the production volume increased by 7.1%. Threshing machinery production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Threshing Machinery Exports

Exports from Vietnam

After two years of growth, shipments abroad of threshing machinery except combine harvester-threshers decreased by -6.2% to X units in 2022. In general, exports, however, recorded modest growth. The most prominent rate of growth was recorded in 2020 when exports increased by 250% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, threshing machinery exports fell modestly to $X in 2022. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 235% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana (X units) was the main destination for threshing machinery exports from Vietnam, accounting for a 93% share of total exports. Moreover, threshing machinery exports to Ghana exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Ghana totaled +67.1%.

In value terms, Ghana ($X) remains the key foreign market for threshing machinery except combine harvester-threshers exports from Vietnam, comprising 94% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ghana amounted to +57.0%.

Export Prices by Country

In 2022, the average threshing machinery export price amounted to $X per unit, rising by 5.8% against the previous year. Overall, the export price, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2019 when the average export price increased by 15%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per unit), while the average price for exports to Ghana stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+15.5%), while the prices for the other major destinations experienced a decline.

Threshing Machinery Imports

Imports into Vietnam

In 2022, imports of threshing machinery except combine harvester-threshers into Vietnam expanded significantly to X units, increasing by 5.3% against the previous year. Over the period under review, imports, however, recorded a deep setback. The growth pace was the most rapid in 2014 with an increase of 600%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, threshing machinery imports rose sharply to $X in 2022. Overall, imports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2014 when imports increased by 599%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of threshing machinery to Vietnam, with a 85% share of total imports. Moreover, threshing machinery imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -3.2%.

In value terms, China ($X) constituted the largest supplier of threshing machinery except combine harvester-threshers to Vietnam, comprising 85% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled -5.9%.

Import Prices by Country

The average threshing machinery import price stood at $X per unit in 2022, with an increase of 2.1% against the previous year. In general, the import price, however, continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2018 when the average import price increased by 18%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-2.4%).

Source: IndexBox Platform

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