Greece: Measuring Instrument Market 2022

Measuring Instrument Market Size in Greece

In 2021, the Greek measuring instrument market increased by 3.9% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption recorded prominent growth. Over the period under review, the market reached the peak level in 2021 and is likely to see gradual growth in years to come.

Measuring Instrument Exports

Exports from Greece

For the third consecutive year, Greece recorded growth in overseas shipments of instruments and apparatus for measuring or checking the flow or level of liquids, which increased by 113% to X units in 2021. In general, exports posted a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, measuring instrument exports soared to $X in 2021. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 79%. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Iran (X units) was the main destination for measuring instrument exports from Greece, with a 43% share of total exports. Moreover, measuring instrument exports to Iran exceeded the volume sent to the second major destination, Germany (X units), fourfold. The third position in this ranking was held by Cyprus (X units), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iran amounted to +374.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+65.2% per year) and Cyprus (+25.8% per year).

In value terms, Iran ($X) emerged as the key foreign market for measuring instrument exports from Greece, comprising 42% of total exports. The second position in the ranking was held by Germany ($X), with an 18% share of total exports. It was followed by Cyprus, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value to Iran totaled +291.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+44.6% per year) and Cyprus (+9.6% per year).

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2021, dropping by -19.5% against the previous year. In general, the export price, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 183% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Oman ($X per unit), while the average price for exports to the Netherlands ($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 Spain (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Greece

In 2021, supplies from abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by 27% to X units, rising for the fifth consecutive year after two years of decline. In general, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 77%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, measuring instrument imports rose rapidly to $X in 2021. Overall, imports posted prominent growth. The pace of growth was the most pronounced in 2013 when imports increased by 72%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of measuring instrument imports to Greece, with a combined 85% share of total imports. These countries were followed by France, the Netherlands, Turkey and the United States, which together accounted for a further 8.6%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +74.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest measuring instrument suppliers to Greece were Germany ($X), China ($X) and Italy ($X), together accounting for 57% of total imports. These countries were followed by the Netherlands, France, the United States and Turkey, which together accounted for a further 25%.

Turkey, with a CAGR of +41.5%, saw 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

The average measuring instrument import price stood at $X per unit in 2021, which is down by -11.9% against the previous year. Overall, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2013 when the average import price increased by 40%. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+2.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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