Africa: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Africa

The African spectacles and goggles market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, showed a perceptible curtailment. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Spectacles And Goggles Production in Africa

In value terms, spectacles and goggles production rose sharply to $X in 2021 estimated in export price. In general, production, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2016 when the production volume increased by 41%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Spectacles And Goggles Exports

Exports in Africa

In 2021, exports of spectacles and goggles in Africa soared to X units, picking up by 26% against the previous year's figure. Over the period under review, exports, however, showed a slight contraction. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacles and goggles exports surged to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 37%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa represented the main exporter of spectacles and goggles in Africa, with the volume of exports accounting for X units, which was near 79% of total exports in 2021. It was distantly followed by Mauritius (X units), committing a 15% share of total exports. Mozambique (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to spectacles and goggles exports from South Africa stood at -2.6%. At the same time, Mozambique (+110.2%) and Mauritius (+34.5%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing exporter exported in Africa, with a CAGR of +110.2% from 2012-2021. Mauritius (+14 p.p.) and Mozambique (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -9.9% from 2012 to 2021, respectively.

In value terms, South Africa ($X) remains the largest spectacles and goggles supplier in Africa, comprising 72% of total exports. The second position in the ranking was taken by Mauritius ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa amounted to +1.7%. In the other countries, the average annual rates were as follows: Mauritius (+23.4% per year) and Mozambique (+7.3% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per unit, picking up by 5.1% against the previous year. Export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacles and goggles export price increased by +38.0% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 33% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mauritius ($X per unit), while Mozambique (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+4.3%), while the other leaders experienced a decline in the export price figures.

Spectacles And Goggles Imports

Imports in Africa

In 2021, purchases abroad of spectacles and goggles was finally on the rise to reach X units after three years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 25% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, spectacles and goggles imports rose remarkably to $X in 2021. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 17%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

South Africa dominates imports structure, resulting at X units, which was near 69% of total imports in 2021. Senegal (X units), Egypt (X units), Algeria (X units), Madagascar (X units), Malawi (X units) and Mauritius (X units) followed a long way behind the leaders.

Imports into South Africa increased at an average annual rate of +3.1% from 2012 to 2021. At the same time, Senegal (+46.8%), Malawi (+41.8%), Madagascar (+19.8%) and Mauritius (+15.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Africa, with a CAGR of +46.8% from 2012-2021. Egypt experienced a relatively flat trend pattern. By contrast, Algeria (-11.5%) illustrated a downward trend over the same period. While the share of South Africa (+18 p.p.), Senegal (+3.9 p.p.), Malawi (+1.8 p.p.) and Madagascar (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Algeria (-3.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported spectacles and goggles in Africa, comprising 31% of total imports. The second position in the ranking was held by Algeria ($X), with a 5.5% share of total imports. It was followed by Malawi, with a 5.5% share.

In South Africa, spectacles and goggles imports declined by an average annual rate of -1.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Algeria (+10.5% per year) and Malawi (+55.0% per year).

Import Prices by Country

In 2021, the import price in Africa amounted to $X per unit, rising by 14% against the previous year. Import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacles and goggles import price increased by +82.0% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 25% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Malawi ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+24.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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