Hand Tools Market Overview in Viet Nam
In value terms, hand tools production skyrocketed to $ in 2019 estimated in export prices. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the production volume increased by % year-to-year. As a result, production attained the peak level of $. From 2012 to 2019, production growth remained at a somewhat lower figure.
The value of the hand tools market in Viet Nam surged to $ in 2019, increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a measured increase from 2007 to 2019: its value decreased at an average annual rate of -% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2015 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.