Price for Non-Furniture Refrigerating or Freezing Equipment in Vietnam - 2021

Contents:

1. Price for Non-Furniture Refrigerating or Freezing Equipment in Vietnam (CIF) - 2022
2. Price for Non-Furniture Refrigerating or Freezing Equipment in Vietnam (FOB) - 2022
3. Imports of Non-Furniture Refrigerating or Freezing Equipment in Vietnam
4. Exports of Non-Furniture Refrigerating or Freezing Equipment in Vietnam

Price for Non-Furniture Refrigerating or Freezing Equipment in Vietnam (CIF) - 2022

The average import price for non-furniture refrigerating or freezing equipment stood at $155 per unit in 2022, with a decrease of -5.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 19% against the previous year. Over the period under review, average import prices hit record highs at $164 per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 ($254 per unit), while the price for Japan ($46 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Non-Furniture Refrigerating or Freezing Equipment in Vietnam (FOB) - 2022

In 2022, the average export price for non-furniture refrigerating or freezing equipment amounted to $226 per unit, with a decrease of -12.2% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 20%. The export price peaked at $258 per unit in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($289 per unit), while the average price for exports to Indonesia ($97 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 Indonesia (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Furniture Refrigerating or Freezing Equipment in Vietnam

In 2022, imports of non-furniture refrigerating or freezing equipment into Vietnam stood at 991K units, stabilizing at the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 8.8% against the previous year. Imports peaked at 998K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, non-furniture refrigerating or freezing equipment imports fell modestly to $153M in 2022. The total import value increased at an average annual rate of +7.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of $161M, and then reduced modestly in the following year.

Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to Vietnam in 2022:

1. China (756.5K units)
2. South Korea (37.8K units)
3. Taiwan (Chinese) (33.2K units)
4. Japan (31.7K units)
5. United States (22.8K units)
6. Malaysia (15.9K units)
7. Thailand (14.4K units)
8. Germany (13.1K units)

Exports of Non-Furniture Refrigerating or Freezing Equipment in Vietnam

In 2022, the amount of non-furniture refrigerating or freezing equipment exported from Vietnam rose markedly to 287K units, with an increase of 8.5% on the previous year. In general, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +21.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 33%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, non-furniture refrigerating or freezing equipment exports fell slightly to $65M in 2022. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +19.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.3% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 38%. As a result, the exports reached the peak of $68M, and then dropped modestly in the following year.

Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from Vietnam in 2022:

1. United States (139.5K units)
2. Thailand (44.4K units)
3. Singapore (43.4K units)
4. India (18.5K units)
5. Japan (15.6K units)
6. Australia (5.2K units)

Source: IndexBox Market Intelligence Platform