Price for Hand-Operated Spanners and Wrenches in Vietnam - 2021
Contents:
- Price for Hand-Operated Spanners and Wrenches in Vietnam (CIF) - 2022
- Price for Hand-Operated Spanners and Wrenches in Vietnam (FOB) - 2022
- Imports of Hand-Operated Spanners and Wrenches in Vietnam
- Exports of Hand-Operated Spanners and Wrenches in Vietnam
Price for Hand-Operated Spanners and Wrenches in Vietnam (CIF) - 2022
In 2022, the average hand-operated spanners and wrenches import price amounted to $13,174 per ton, remaining constant against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hand-operated spanners and wrenches import price decreased by -1.1% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 67%. The import price peaked at $13,322 per ton in 2020; however, from 2021 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 highest price was recorded for prices from Hong Kong SAR ($14,447 per ton) and the Czech Republic ($14,316 per ton), while the price for South Korea ($12,478 per ton) and the United States ($12,541 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Hand-Operated Spanners and Wrenches in Vietnam (FOB) - 2022
The average hand-operated spanners and wrenches export price stood at $24,480 per ton in 2022, declining by -2% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The growth pace was the most rapid in 2014 when the average export price increased by 62% against the previous year. Over the period under review, the average export prices hit record highs at $24,991 per ton in 2021, and then shrank slightly in the following year.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($26,928 per ton) and Japan ($24,937 per ton), while the average price for exports to Indonesia ($22,901 per ton) and the United States ($23,449 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Hand-Operated Spanners and Wrenches in Vietnam
In 2022, imports of hand-operated spanners and wrencheses into Vietnam contracted dramatically to 1.6K tons, waning by -19.5% against the previous year. Overall, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +6.4% 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 +31.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 64%. As a result, imports reached the peak of 2K tons, and then contracted rapidly in the following year.
In value terms, hand-operated spanners and wrenches imports reduced markedly to $22M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +10.9% 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 +36.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 61%. As a result, imports attained the peak of $27M, and then declined sharply in the following year.
| Import of Hand-Operated Spanners and Wrenches in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 5.4 | 9.0 | 16.8 | 13.5 | 35.7% |
| Taiwan (Chinese) | 3.4 | 4.2 | 5.3 | 4.2 | 7.3% |
| Japan | 2.0 | 1.9 | 2.2 | 1.8 | -3.5% |
| Germany | 0.5 | 0.3 | 0.8 | 0.7 | 11.9% |
| Czech Republic | N/A | N/A | 0.6 | 0.5 | -16.7% |
| United States | 0.5 | 0.3 | 0.2 | 0.3 | -15.7% |
| Belgium | 3.1 | N/A | N/A | N/A | 0% |
| Others | 1.0 | 0.9 | 0.8 | 0.8 | -7.2% |
| Total | 15.9 | 16.6 | 26.8 | 21.7 | 10.9% |
Top Suppliers of Hand-Operated Spanners and Wrenches to Vietnam in 2022:
- China (1016.9 tons)
- Taiwan (Chinese) (329.1 tons)
- Japan (133.2 tons)
- Germany (52.6 tons)
- Czech Republic (34.1 tons)
- United States (21.1 tons)
Exports of Hand-Operated Spanners and Wrenches in Vietnam
In 2022, shipments abroad of hand-operated spanners and wrencheses decreased by -31% to 558 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 182%. As a result, the exports reached the peak of 810 tons, and then reduced markedly in the following year.
In value terms, hand-operated spanners and wrenches exports shrank dramatically to $14M in 2022. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 185% against the previous year. As a result, the exports reached the peak of $20M, and then fell markedly in the following year.
| Export of Hand-Operated Spanners and Wrenches in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.1 | 1.0 | 10.2 | 7.0 | 312.1% |
| Taiwan (Chinese) | 3.3 | 4.3 | 5.0 | 3.4 | 1.0% |
| United States | 0.1 | 0.4 | 3.7 | 2.5 | 192.4% |
| Japan | 0.4 | 0.3 | 0.7 | 0.5 | 7.7% |
| Others | 0.3 | 1.0 | 0.6 | 0.3 | 0.0% |
| Total | 4.2 | 7.1 | 20.2 | 13.7 | 48.3% |
Top Export Markets for Hand-Operated Spanners and Wrenches from Vietnam in 2022:
- China (293.6 tons)
- Taiwan (Chinese) (126.9 tons)
- United States (107.7 tons)
- Japan (18.3 tons)
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