The Vietnamese Sanitary Ware Market Is In Decline. Sales Are Only 30% Of The Same Period Last Year

The Vietnamese Sanitary Ware Market Is In Decline

According to Vietnamese media reports, the building materials sector in Vietnam is still affected by the epidemic from 2020 to the present. In 2020, Vietnam’s construction industry grew by 6.76%. This is the lowest growth rate for the period 2016-2020. The stagnation in construction activity has led to a sharp decline in the consumption of vietnamese sanitary ware market. The sanitary sector is expected to remain difficult this year before the construction and real estate markets have really recovered strongly.

A survey of sanitary ware shops in Hanoi, Vietnam, showed that the number of customers was far less than at this time in 2019. A general agent of a sanitary ware brand on Hoang Quoc Viet Street in Hanoi said that very few customers had come into the shop from the beginning of the year until now. Meanwhile, some imported products have seen their import prices rise due to the epidemic. Compared to the same period last year, sales are only about 30%.

Nguyen Quoc Dung, deputy general director of Videc Vietnam Real Estate Company, said that from early 2020 to early 2021, all property activities were delayed due to the epidemic. With the delay in projects currently under construction, plans for the latter have had to be postponed. As a result, imports of building materials such as sanitary ware and steel have also been interrupted.

According to architects’ firm Chen Hui Huang, not only has production of sanitary ware fallen recently due to economic difficulties, but consumers’ choice of branded products also tends to diminish. Imported high-end brands have been relatively more affected, while local Vietnamese brands and imported mid-and low-end products have been welcomed.

Kitchen and bathroom information query customs data learned that January-April 2021 6910 code goods exports increased significantly. 2018 January-April to 2021 January-April period were exported in the amount of 58,665,624 yuan , 586,711,878 yuan , 748,812,131 yuan , 1,390,609,709 yuan . Hubei, Yunnan, Chongqing, Shandong, and Jiangsu saw large increases, in addition to three new registrations in Heilongjiang, Xinjiang, and Tianjin. Vietnamese Sanitary Ware Market