Eastern Europe: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in Eastern Europe

The East European direction finding compass market reached $X in 2021, growing by 2.2% against the previous year. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +38.8% against 2017 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Direction Finding Compass Production in Eastern Europe

In value terms, direction finding compass production shrank notably to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +58.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 72%. The level of production peaked at $X in 2020, and then contracted markedly in the following year.

Direction Finding Compass Exports

Exports in Eastern Europe

In 2021, overseas shipments of direction finding compasses increased by 9.3% to X units, rising for the third consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2015 with an increase of 94% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, direction finding compass exports shrank modestly to $X in 2021. Overall, exports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2015 with an increase of 62% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Poland (X units), distantly followed by Belarus (X units), Russia (X units), the Czech Republic (X units) and Latvia (X units) represented the key exporters of direction finding compasses, together mixing up 89% of total exports. The following exporters - Estonia (X units) and Slovakia (X units) - each accounted for an 8.1% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Belarus (with a CAGR of +50.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the largest direction finding compass supplier in Eastern Europe, comprising 37% of total exports. The second position in the ranking was held by Poland ($X), with an 18% share of total exports. It was followed by Latvia, with a 17% share.

In Russia, direction finding compass exports contracted by an average annual rate of -16.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Poland (+25.3% per year) and Latvia (+47.1% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2021, reducing by -12.3% against the previous year. Overall, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 32%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, 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 Estonia ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+16.5%), while the other leaders experienced more modest paces of growth.

Direction Finding Compass Imports

Imports in Eastern Europe

In 2021, approx. X units of direction finding compasses were imported in Eastern Europe; picking up by 16% compared with 2020 figures. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +79.8% against 2017 indices. The pace of growth was the most pronounced in 2020 when imports increased by 29% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, direction finding compass imports contracted to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 22% against the previous year. As a result, imports reached the peak of $X, and then contracted slightly in the following year.

Imports by Country

In 2021, Russia (X units) was the key importer of direction finding compasses, making up 66% of total imports. It was distantly followed by Poland (X units), generating a 13% share of total imports. Belarus (X units), Latvia (X units), Ukraine (X units), Estonia (X units), the Czech Republic (X units) and Slovakia (X units) took a little share of total imports.

Imports into Russia increased at an average annual rate of +8.6% from 2012 to 2021. At the same time, Belarus (+27.2%), Latvia (+23.1%), Estonia (+6.9%), Ukraine (+4.4%) and Poland (+2.2%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +27.2% from 2012-2021. By contrast, the Czech Republic (-7.2%) and Slovakia (-7.4%) illustrated a downward trend over the same period. While the share of Russia (+15 p.p.), Belarus (+3.6 p.p.) and Latvia (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Slovakia (-3.4 p.p.), the Czech Republic (-4.3 p.p.) and Poland (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported direction finding compasses in Eastern Europe, comprising 40% of total imports. The second position in the ranking was taken by Poland ($X), with a 19% share of total imports. It was followed by Latvia, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia amounted to +2.9%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (-1.3% per year) and Latvia (+44.7% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per unit, reducing by -16.8% against the previous year. In general, the import price recorded a slight slump. The pace of growth was the most pronounced in 2017 when the import price increased by 50% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+23.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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