Libya: Measuring Instrument Market 2022

Measuring Instrument Market Size in Libya

The Libyan measuring instrument market skyrocketed to $X in 2021, increasing by 41% 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). Over the period under review, consumption, however, saw a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Measuring Instrument Exports

Exports from Libya

In 2021, the amount of instruments and apparatus for measuring or checking the flow or level of liquids exported from Libya contracted notably to X units, reducing by -28.1% compared with 2020. In general, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 176%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, measuring instrument exports shrank slightly to $X in 2021. Over the period under review, total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +99.6% against 2013 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 77%. Over the period under review, the exports reached the peak figure at $X in 2020, and then fell in the following year.

Exports by Country

Tunisia (X units), France (X units) and the Netherlands (X units) were the main destinations of measuring instrument exports from Libya, with a combined 99% share of total exports.

From 2012 to 2021, the biggest increases were in Tunisia (with a CAGR of +48.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for measuring instrument exported from Libya were Tunisia ($X), the Netherlands ($X) and France ($X), together comprising 59% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +43.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2021, picking up by 37% against the previous year. Overall, the export price, however, showed a abrupt decrease. The growth pace was the most rapid in 2018 an increase of 54%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to France ($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 Germany (+34.7%), while the prices for the other major destinations experienced mixed trend patterns.

Measuring Instrument Imports

Imports into Libya

Measuring instrument imports into Libya soared to X units in 2021, rising by 48% on the previous year's figure. Over the period under review, imports, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2018 with an increase of 61% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, measuring instrument imports soared to $X in 2021. Overall, imports, however, showed a noticeable shrinkage. The growth pace was the most rapid in 2013 with an increase of 40%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Italy (X units) constituted the largest supplier of measuring instrument to Libya, with a 57% share of total imports. Moreover, measuring instrument imports from Italy exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), sixfold. The third position in this ranking was taken by the Netherlands (X units), with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+32.1% per year) and the Netherlands (+9.4% per year).

In value terms, Italy ($X), Germany ($X) and the Netherlands ($X) were the largest measuring instrument suppliers to Libya, together comprising 50% of total imports. The United States, the United Arab Emirates, Turkey, the UK, China, Tunisia, Canada and France lagged somewhat behind, together accounting for a further 34%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +60.5%, saw the highest rates of growth with regard to the value of imports, 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 measuring instrument import price amounted to $X per unit, reducing by -8.1% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 74%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+53.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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