Plugs and Socket Price in Vietnam - 2022
Contents:
Plugs and Socket Price in Vietnam (CIF) - 2022
In 2022, the average plugs and socket import price amounted to $0.5 per unit, declining by -21.9% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 73% against the previous year. Over the period under review, average import prices hit record highs at $0.7 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($0.5 per unit) and China ($0.5 per unit), while the price for India ($0.5 per unit) and Hungary ($0.5 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Imports in Vietnam
Plugs and socket imports into Vietnam surged to 911M units in 2022, increasing by 22% against 2021. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, plugs and socket imports dropped to $499M in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +13.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.2% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 26%. As a result, imports attained the peak of $524M, and then declined in the following year.
| Import of Plugs and Socket in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 87.9 | 131 | 214 | 200 | 31.5% |
| South Korea | 198 | 203 | 219 | 190 | -1.4% |
| Japan | 29.7 | 44.4 | 39.5 | 35.7 | 6.3% |
| India | 0.5 | 0.5 | 1.0 | 16.4 | 220.1% |
| United States | 4.1 | 9.6 | 11.8 | 9.5 | 32.3% |
| Hungary | 0.7 | 0.6 | 1.3 | 8.7 | 131.6% |
| Others | 17.5 | 27.8 | 37.3 | 38.5 | 30.1% |
| Total | 339 | 417 | 524 | 499 | 13.8% |
Top Suppliers of Plugs and Socket to Vietnam in 2022:
- China (365.7M units)
- South Korea (346.2M units)
- Japan (65.2M units)
- India (30.6M units)
- United States (17.3M units)
- Hungary (15.8M units)
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