Luxembourg: Binocular Market 2024

Binocular Market Size in Luxembourg

The Luxembourg binocular market reached $X in 2021, remaining constant against the previous year. In general, consumption enjoyed a buoyant expansion. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Binocular Production in Luxembourg

In value terms, binocular production dropped to $X in 2021 estimated in export price. Over the period under review, production saw a slight downturn. The most prominent rate of growth was recorded in 2017 with an increase of 133%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Binocular Exports

Exports from Luxembourg

In 2021, after three years of decline, there was significant growth in overseas shipments of binoculars, when their volume increased by 43% to X units. Over the period under review, exports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 5,303% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, binocular exports skyrocketed to $X in 2021. Overall, exports recorded resilient growth. The growth pace was the most rapid in 2017 with an increase of 4,225%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X units) was the main destination for binocular exports from Luxembourg, with a 84% share of total exports. Moreover, binocular exports to Belgium exceeded the volume sent to the second major destination, the Netherlands (X units), more than tenfold. The UK (X units) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium amounted to +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (0.0% per year) and the UK (-17.7% per year).

In value terms, Belgium ($X), the Netherlands ($X) and the United States ($X) were the largest markets for binocular exported from Luxembourg worldwide, together accounting for 70% of total exports.

Among the main countries of destination, Belgium, with a CAGR of +3.6%, saw the highest growth rate of 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 binocular export price stood at $X per unit in 2021, increasing by 80% against the previous year. Overall, the export price recorded a buoyant expansion. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Belgium ($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 the UK (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Binocular Imports

Imports into Luxembourg

In 2021, imports of binoculars into Luxembourg skyrocketed to X units, increasing by 129% against 2020 figures. Overall, imports recorded prominent growth. Imports peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, binocular imports reduced remarkably to $X in 2021. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 320%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Switzerland (X units) constituted the largest binocular supplier to Luxembourg, accounting for a 71% share of total imports. Moreover, binocular imports from Switzerland exceeded the figures recorded by the second-largest supplier, Belgium (X units), fivefold. France (X units) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume from Switzerland stood at +70.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+6.1% per year) and France (+7.3% per year).

In value terms, Switzerland ($X) constituted the largest supplier of binoculars to Luxembourg, comprising 36% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by Austria, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Switzerland amounted to +40.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.1% per year) and Austria (+4.6% per year).

Import Prices by Country

In 2021, the average binocular import price amounted to $X per unit, shrinking by -67.7% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 169%. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then dropped rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Switzerland ($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 (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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