Central Asia: Golf Equipment Market 2024

Golf Equipment Market Size in Central Asia

In 2022, the Central Asian golf equipment market decreased by -13.1% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then contracted in the following year.

Golf Equipment Production in Central Asia

In value terms, golf equipment production reached $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 29% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Golf Equipment Exports

Exports in Central Asia

In 2022, overseas shipments of golf clubs and other golf equipment increased by 2,317% to X units, rising for the second year in a row after three years of decline. In general, exports posted a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, golf equipment exports skyrocketed to $X in 2022. Overall, exports continue to indicate buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Kyrgyzstan represented the key exporting country with an export of around X units, which amounted to 64% of total exports. It was distantly followed by Uzbekistan (X units), creating a 32% share of total exports. Kazakhstan (X units) and Mongolia (X units) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to golf equipment exports from Kyrgyzstan stood at +30.2%. At the same time, Uzbekistan (+99.0%) and Mongolia (+13.9%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +99.0% from 2012-2022. By contrast, Kazakhstan (-12.2%) illustrated a downward trend over the same period. Kyrgyzstan (+43 p.p.) and Uzbekistan (+32 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -41% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kyrgyzstan ($X) emerged as the largest golf equipment supplier in Central Asia, comprising 81% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 15% share of total exports. It was followed by Mongolia, with a 3.5% share.

In Kyrgyzstan, golf equipment exports increased at an average annual rate of +49.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Uzbekistan (+70.4% per year) and Mongolia (+1.9% per year).

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per unit, shrinking by -37.2% against the previous year. Over the period under review, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2016 when the export price increased by 101%. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mongolia ($X per unit), while Kazakhstan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+14.4%), while the other leaders experienced a decline in the export price figures.

Golf Equipment Imports

Imports in Central Asia

For the third year in a row, Central Asia recorded growth in overseas purchases of golf clubs and other golf equipment, which increased by 2.5% to X units in 2022. Over the period under review, imports recorded a strong expansion. The growth pace was the most rapid in 2013 with an increase of 121% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, golf equipment imports surged to $X in 2022. Overall, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Kazakhstan (X units) represented the largest importer of golf clubs and other golf equipment, mixing up 84% of total imports. It was distantly followed by Kyrgyzstan (X units), committing a 12% share of total imports. Mongolia (X units) and Turkmenistan (X units) held a minor share of total imports.

Imports into Kazakhstan increased at an average annual rate of +17.5% from 2012 to 2022. At the same time, Kyrgyzstan (+31.2%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +31.2% from 2012-2022. By contrast, Turkmenistan (-3.4%) and Mongolia (-13.3%) illustrated a downward trend over the same period. While the share of Kazakhstan (+34 p.p.) and Kyrgyzstan (+9.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkmenistan (-6 p.p.) and Mongolia (-32.9 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) constitutes the largest market for imported golf clubs and other golf equipment in Central Asia, comprising 97% of total imports. The second position in the ranking was taken by Kyrgyzstan ($X), with a 1.1% share of total imports. It was followed by Mongolia, with a 0.9% share.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan totaled +29.8%. In the other countries, the average annual rates were as follows: Kyrgyzstan (+20.3% per year) and Mongolia (-11.8% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per unit, surging by 214% against the previous year. Over the period under review, the import price recorded resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per unit), while Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+10.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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