Belgium: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in Belgium

The Belgian direction finding compass market surged to $X in 2021, jumping by 166% 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). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Direction Finding Compass Exports

Exports from Belgium

For the third consecutive year, Belgium recorded growth in shipments abroad of direction finding compasses, which increased by 98% to X units in 2021. Overall, exports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2020 with an increase of 228% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, direction finding compass exports soared to $X in 2021. Over the period under review, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 202% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

France (X units), Nigeria (X units) and Poland (X units) were the main destinations of direction finding compass exports from Belgium, together comprising 50% of total exports. Germany, Italy, Egypt, Ghana, India and Luxembourg lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +111.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Nigeria ($X) and France ($X) constituted the largest markets for direction finding compass exported from Belgium worldwide, with a combined 59% share of total exports. Germany, Ghana, Italy, India, Poland, Luxembourg and Canada lagged somewhat behind, together accounting for a further 23%.

India, with a CAGR of +447.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average direction finding compass export price stood at $X per unit in 2021, falling by -15.9% against the previous year. Over the period under review, the export price, however, saw a significant expansion. The pace of growth was the most pronounced in 2015 when the average export price increased by 207%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+29.4%), while the prices for the other major destinations experienced more modest paces of growth.

Direction Finding Compass Imports

Imports into Belgium

In 2021, the amount of direction finding compasses imported into Belgium skyrocketed to X units, rising by 134% compared with 2020. Overall, imports saw slight growth. The pace of growth appeared the most rapid in 2020 when imports increased by 134% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, direction finding compass imports surged to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X units) constituted the largest direction finding compass supplier to Belgium, with a 61% share of total imports. Moreover, direction finding compass imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by Israel (X units), with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.5% per year) and Israel (-25.4% per year).

In value terms, France ($X), the Netherlands ($X) and China ($X) appeared to be the largest direction finding compass suppliers to Belgium, with a combined 69% share of total imports.

The Netherlands, with a CAGR of +20.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average direction finding compass import price amounted to $X per unit, picking up by 55% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2014 an increase of 577% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+49.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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