MENA: Binocular Market 2024

Binocular Market Size in MENA

In 2021, the MENA's binocular market decreased by -8.5% to $X, falling for the fifth consecutive year after three years of growth. Overall, consumption saw a perceptible decline. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Binocular Production in MENA

In value terms, binocular production expanded notably to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -24.2% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 39%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Binocular Exports

Exports in MENA

In 2021, the amount of binoculars exported in MENA skyrocketed to X units, increasing by 250% compared with the previous year. Over the period under review, exports, however, showed a abrupt setback. The volume of export peaked at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, binocular exports surged to $X in 2021. Overall, exports, however, continue to indicate a abrupt decrease. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Israel was the largest exporter of binoculars in MENA, with the volume of exports reaching X units, which was near 82% of total exports in 2021. It was distantly followed by Oman (X units), creating a 12% share of total exports. The United Arab Emirates (X units) held a little share of total exports.

Exports from Israel decreased at an average annual rate of -11.9% from 2012 to 2021. At the same time, Oman (+113.0%) and the United Arab Emirates (+4.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +113.0% from 2012-2021. Oman (+12 p.p.) and the United Arab Emirates (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by -2% from 2012 to 2021, respectively.

In value terms, Israel ($X) remains the largest binocular supplier in MENA, comprising 91% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 3.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Israel stood at -12.3%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-6.6% per year) and Oman (+28.2% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per unit, reducing by -3% against the previous year. Over the period under review, the export price showed a pronounced setback. The most prominent rate of growth was recorded in 2018 an increase of 85% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Israel ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-0.4%), while the other leaders experienced a decline in the export price figures.

Binocular Imports

Imports in MENA

In 2021, the amount of binoculars imported in MENA contracted significantly to X units, which is down by -29.1% against 2020 figures. Overall, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 22%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, binocular imports declined sharply to $X in 2021. In general, imports saw a noticeable slump. The most prominent rate of growth was recorded in 2013 with an increase of 220%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the major importer of binoculars in MENA, with the volume of imports finishing at X units, which was near 39% of total imports in 2021. Turkey (X units) ranks second in terms of the total imports with an 18% share, followed by Israel (13%), Algeria (12%) and Iran (8.7%). Morocco (X units) and Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to binocular imports into the United Arab Emirates stood at -19.5%. At the same time, Algeria (+58.0%), Bahrain (+19.9%) and Morocco (+10.2%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +58.0% from 2012-2021. By contrast, Israel (-7.3%), Turkey (-8.8%) and Iran (-28.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Algeria, Turkey, Israel, Morocco and Bahrain increased by +12, +11, +8.2, +2.4 and +1.9 percentage points, respectively.

In value terms, Algeria ($X), the United Arab Emirates ($X) and Israel ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 59% share of total imports.

In terms of the main importing countries, Algeria, with a CAGR of +30.1%, saw the highest growth rate of 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 import price in MENA amounted to $X per unit, waning by -42% against the previous year. Overall, the import price, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2013 when the import price increased by 404%. The level of import peaked at $X per unit in 2019; however, from 2020 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 Algeria ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+30.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform