Vietnam: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Vietnam

The Vietnamese water-skis and surfboards market rose sharply to $X in 2022, with an increase of 5.5% against the previous year. In general, consumption, however, showed a slight downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Water-Skis And Surfboards Production in Vietnam

In value terms, water-skis and surfboards production reached $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 20%. Water-skis and surfboards production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Water-Skis And Surfboards Exports

Exports from Vietnam

In 2022, the amount of water-skis, surfboards and sailboards exported from Vietnam contracted to X units, waning by -14.9% compared with the year before. Over the period under review, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 93% against the previous year. Over the period under review, the exports reached the maximum at X units in 2021, and then declined in the following year.

In value terms, water-skis and surfboards exports declined rapidly to $X in 2022. In general, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2015 when exports increased by 80% against the previous year. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

The United States (X units) was the main destination for water-skis and surfboards exports from Vietnam, accounting for a 54% share of total exports. Moreover, water-skis and surfboards exports to the United States exceeded the volume sent to the second major destination, Australia (X units), fivefold. France (X units) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+12.3% per year) and France (+13.1% per year).

In value terms, the United States ($X) remains the key foreign market for water-skis, surfboards and sailboards exports from Vietnam, comprising 46% of total exports. The second position in the ranking was taken by Australia ($X), with a 7.4% share of total exports. It was followed by Germany, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+7.2% per year) and Germany (+11.0% per year).

Export Prices by Country

The average water-skis and surfboards export price stood at $X per unit in 2022, reducing by -2.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2013 when the average export price increased by 21%. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Australia ($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 (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Water-Skis And Surfboards Imports

Imports into Vietnam

In 2022, the amount of water-skis, surfboards and sailboards imported into Vietnam surged to X units, increasing by 132% against 2021. Over the period under review, imports recorded a temperate increase. The most prominent rate of growth was recorded in 2018 when imports increased by 143%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, water-skis and surfboards imports skyrocketed to $X in 2022. In general, imports continue to indicate temperate growth. The pace of growth was the most pronounced in 2018 when imports increased by 136%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Canada (X units) constituted the largest water-skis and surfboards supplier to Vietnam, accounting for a 72% share of total imports. Moreover, water-skis and surfboards imports from Canada exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was held by Singapore (X units), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume from Canada totaled +80.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.3% per year) and Singapore (-11.0% per year).

In value terms, Canada ($X) constituted the largest supplier of water-skis, surfboards and sailboards to Vietnam, comprising 64% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Singapore, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada totaled +89.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.5% per year) and Singapore (-9.4% per year).

Import Prices by Country

In 2022, the average water-skis and surfboards import price amounted to $X per unit, with a decrease of -4.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 12% against the previous year. The import price peaked at $X per unit in 2021, and then declined modestly in the following year.

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 the United States ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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