Price for Electrical Insulators of Any Material in Vietnam - 2022

Price for Electrical Insulators of Any Material in Vietnam (CIF) - 2022

In December 2022, the average import price for electrical insulators of any materials amounted to $872 per thousand units, which is down by -73.6% against the previous month. In general, the import price, however, showed a measured expansion. The pace of growth was the most pronounced in November 2022 an increase of 141% month-to-month. As a result, import price reached the peak level of $3.3 per unit, and then contracted remarkably in the following month.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was South Korea ($2.2 per unit), while the price for China ($532 per thousand units) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+57.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Electrical Insulators of Any Material in Vietnam (FOB) - 2022

The average export price for electrical insulators of any materials stood at $688 per thousand units in December 2022, remaining constant against the previous month. In general, the export price, however, showed a mild contraction. The growth pace was the most rapid in January 2022 when the average export price increased by 278% month-to-month. The export price peaked at $5.9 per unit in September 2022; however, from October 2022 to December 2022, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Taiwan (Chinese) ($1.4 per unit), while the average price for exports to South Korea ($389 per thousand units) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Electrical Insulators of Any Material in Vietnam

In 2022, supplies from abroad of electrical insulators of any materials decreased by -3.4% to 74M units, falling for the second year in a row after two years of growth. In general, total imports indicated a modest increase from 2019 to 2022: its volume increased at an average annual rate of +1.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -27.9% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 44%. As a result, imports attained the peak of 102M units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electrical insulators of any material imports amounted to $45M in 2022. The total import value increased at an average annual rate of +3.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 40% against the previous year. As a result, imports attained the peak of $58M. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Electrical Insulators of Any Material in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	16.4	17.6	19.9	19.7	6.3%
Taiwan (Chinese)	2.2	3.4	6.1	5.7	37.3%
Japan	3.8	3.8	4.5	4.6	6.6%
Spain	2.7	8.5	0.4	2.7	0.0%
Russia	0.9	5.1	0.5	2.1	32.6%
France	2.5	1.8	3.2	1.9	-8.7%
United States	3.2	2.6	2.3	1.8	-17.5%
Ukraine	0.8	1.6	3.2	1.0	7.7%
India	1.7	0.6	0.9	0.6	-29.3%
Others	7.0	12.5	2.6	5.2	-9.4%
Total	41.1	57.5	43.5	45.3	3.3%

Top Suppliers of Electrical Insulators of Any Material to Vietnam in 2022:

China (40.8M units)
Russia (7.6M units)
Taiwan (Chinese) (5.6M units)
Japan (3.8M units)
Spain (3.5M units)
Ukraine (2.6M units)
France (2.3M units)
India (2.1M units)
United States (1.2M units)

Exports of Electrical Insulators of Any Material in Vietnam

Electrical insulators of any material exports from Vietnam declined to 6.1M units in 2022, dropping by -10% against 2021 figures. Overall, exports recorded a perceptible decrease. The growth pace was the most rapid in 2021 when exports increased by 40%. As a result, the exports attained the peak of 6.7M units, and then reduced in the following year.

In value terms, electrical insulators of any material exports dropped remarkably to $3M in 2022. Over the period under review, exports showed a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 4.2% against the previous year. As a result, the exports reached the peak of $3.6M, and then reduced notably in the following year.

Export of Electrical Insulators of Any Material in Vietnam (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	1,108	1,150	1,103	1,321	6.0%
Taiwan (Chinese)	224	253	222	401	21.4%
Cambodia	323	497	357	317	-0.6%
Japan	153	138	148	310	26.5%
Thailand	637	455	661	174	-35.1%
United States	540	507	398	45.6	-56.1%
Lao People's Democratic Republic	194	62.0	32.9	26.9	-48.2%
Others	333	362	647	408	7.0%
Total	3,513	3,423	3,568	3,004	-5.1%