Cyprus: Sunglasses Market 2020

Sunglasses Market Size in Cyprus

The revenue of the sunglasses market in Cyprus amounted to $X in 2018, jumping by X% against the previous year. Over the period under review, sunglasses consumption continues to indicate a perceptible drop. The pace of growth was the most pronounced in 2011 with an increase of X% against the previous year. Over the period under review, the sunglasses market reached its maximum level at $X in 2007; however, from 2008 to 2018, consumption failed to regain its momentum.

Sunglasses Production in Cyprus

In value terms, sunglasses production amounted to $X in 2018 estimated in export prices. Over the period under review, sunglasses production continues to indicate a drastic contraction. The pace of growth appeared the most rapid in 2013 when production volume increased by X% y-o-y. Cyprus sunglasses production peaked at $X in 2007; however, from 2008 to 2018, production stood at a somewhat lower figure.

Sunglasses Exports

Exports from Cyprus

In 2018, approx. X units of sunglasses were exported from Cyprus; increasing by X% against the previous year. Over the period under review, sunglasses exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. Cyprus exports peaked in 2018 and are expected to retain its growth in the immediate term.

In value terms, sunglasses exports totaled $X in 2018. In general, sunglasses exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 when exports increased by X% year-to-year. In that year, sunglasses exports attained their peak of $X. From 2013 to 2018, the growth of sunglasses exports failed to regain its momentum.

Exports by Country

China prevails in sunglasses exports structure, recording X units, which was near X% of total exports in 2018. It was distantly followed by Italy (X units), creating a X% share of total exports. China, Hong Kong SAR (X units), Taiwan, Chinese (X units), the U.S. (X units) and Germany (X units) took a little share of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, China, Hong Kong SAR (+X%), Germany (+X%), the U.S. (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, China, Hong Kong SAR emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. By contrast, Taiwan, Chinese (-X%) illustrated a downward trend over the same period. While the share of China (+X p.p.) and China, Hong Kong SAR (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X), China ($X) and China, Hong Kong SAR ($X) constituted the countries with the highest levels of exports in 2018, together comprising X% of total exports.

In terms of the main exporting countries, China recorded the highest rates of growth with regard to exports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the sunglasses export price in Cyprus amounted to $X per unit, lowering by -X% against the previous year. In general, the sunglasses export price continues to indicate a drastic decline. The pace of growth was the most pronounced in 2016 an increase of X% year-to-year. Over the period under review, the export prices for sunglasses attained their maximum at $X per unit in 2012; however, from 2013 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Italy ($X per unit), while China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Taiwan, Chinese, while the other leaders experienced more modest paces of growth.

Sunglasses Imports

Imports into Cyprus

In 2018, the amount of sunglasses imported into Cyprus amounted to X units, rising by X% against the previous year. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. Cyprus imports peaked at X units in 2015; however, from 2016 to 2018, imports remained at a lower figure.

In value terms, sunglasses imports amounted to $X in 2018. In general, the total imports indicated slight growth from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, sunglasses imports increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% y-o-y. Over the period under review, sunglasses imports reached their peak figure at $X in 2008; however, from 2009 to 2018, imports failed to regain their momentum.

Imports by Country

The U.S. was the largest importer of sunglasses in the world, with the volume of imports reaching X units, which was near X% of total imports in 2018. China, Hong Kong SAR (X units) held a X% share (based on tons) of total imports, which put it in second place, followed by India (X%), Germany (X%) and the UK (X%). Mexico (X units), Italy (X units), the Netherlands (X units), France (X units), Japan (X units), Canada (X units) and Australia (X units) followed a long way behind the leaders.

Imports into the U.S. decreased at an average annual rate of -X% from 2007 to 2018. At the same time, India (+X%), the Netherlands (+X%) and Mexico (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Italy, France, Japan, the UK, Australia, Germany and Canada experienced a relatively flat trend pattern. By contrast, China, Hong Kong SAR (-X%) illustrated a downward trend over the same period. While the share of India (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of China, Hong Kong SAR (-X p.p.) and the U.S. (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported sunglasses into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by China, Hong Kong SAR ($X), with a X% share of global imports. It was followed by Italy, with a X% share.

In the U.S., sunglasses imports expanded at an average annual rate of +X% over the period from 2007-2018. The remaining importing countries recorded the following average annual rates of imports growth: China, Hong Kong SAR (+X% per year) and Italy (+X% per year).

Import Prices by Country

The sunglasses import price in Cyprus stood at $X per unit in 2018, jumping by X% against the previous year. Over the period under review, the sunglasses import price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2016 an increase of X% y-o-y. Over the period under review, the import prices for sunglasses attained their peak figure at $X per unit in 2007; however, from 2008 to 2018, import prices failed to regain their momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China, Hong Kong SAR ($X per unit), while India ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform