Hand Tools Market Overview in Viet Nam
In value terms, hand tools production amounted to $ in estimated in export prices. In general, the total production indicated a mild expansion from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2018 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by % year-to-year. Over the period under review, production reached the peak level at $ in 2011; however, from 2012 to , production failed to regain the momentum.
The value of the hand tools market in Viet Nam reduced modestly to $ in , shrinking 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, consumption, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the market value increased by % against the previous year. As a result, consumption reached the peak level of $. from 2019 to , the growth of the market remained at a lower figure.