Malaysia: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in Malaysia

In 2021, the Malaysian direction finding compass market increased by 101% to $X, rising for the third year in a row after three years of decline. Over the period under review, consumption saw a moderate expansion. Direction finding compass consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Direction Finding Compass Exports

Exports from Malaysia

For the third year in a row, Malaysia recorded decline in shipments abroad of direction finding compasses, which decreased by -23.9% to X units in 2021. Overall, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2018 when exports increased by 13,409%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, direction finding compass exports contracted significantly to $X in 2021. In general, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 6,662% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X units) was the main destination for direction finding compass exports from Malaysia, with a 83% share of total exports. Moreover, direction finding compass exports to the Netherlands exceeded the volume sent to the second major destination, Papua New Guinea (X units), ninefold. The third position in this ranking was held by Canada (X units), with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands amounted to +54.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+11.1% per year) and Canada (-19.9% per year).

In value terms, the Netherlands ($X) remains the key foreign market for direction finding compasses exports from Malaysia, comprising 85% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 5.6% share of total exports. It was followed by Canada, with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands totaled +78.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+4.6% per year) and Canada (-18.7% per year).

Export Prices by Country

The average direction finding compass export price stood at $X per unit in 2021, increasing by 3.2% against the previous year. In general, the export price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by 36%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Bangladesh ($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 South Korea (+20.7%), while the prices for the other major destinations experienced more modest paces of growth.

Direction Finding Compass Imports

Imports into Malaysia

In 2021, supplies from abroad of direction finding compasses increased by 107% to X units, rising for the third year in a row after three years of decline. Overall, imports posted a temperate expansion. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, direction finding compass imports surged to $X in 2021. In general, imports enjoyed a prominent increase. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest direction finding compass supplier to Malaysia, accounting for a 50% share of total imports. Moreover, direction finding compass imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by Singapore (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.7% per year) and Singapore (-2.3% per year).

In value terms, the largest direction finding compass suppliers to Malaysia were China ($X), Japan ($X) and Germany ($X), together accounting for 37% of total imports. Sweden, the United States, Singapore, Thailand, Finland, the UK and Canada lagged somewhat behind, together comprising a further 15%.

Thailand, with a CAGR of +89.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 direction finding compass import price amounted to $X per unit, waning by -13.1% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, direction finding compass import price decreased by -25.7% against 2018 indices. The pace of growth appeared the most rapid in 2017 an increase of 46%. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 Germany ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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