Middle East: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in the Middle East

In 2021, the Middle Eastern spectacles and goggles market was finally on the rise to reach $X after four years of decline. Over the period under review, consumption continues to indicate a perceptible curtailment. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Spectacles And Goggles Production in the Middle East

In value terms, spectacles and goggles production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production saw a perceptible setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by 183% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Spectacles And Goggles Exports

Exports in the Middle East

In 2021, the amount of spectacles and goggles exported in the Middle East shrank remarkably to X units, declining by -20% on the previous year's figure. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 231% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, spectacles and goggles exports skyrocketed to $X in 2021. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 211%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Israel dominates exports structure, reaching X units, which was approx. 91% of total exports in 2021. It was distantly followed by Turkey (X units), constituting a 6% share of total exports. The United Arab Emirates (X units) took a little share of total exports.

Israel was also the fastest-growing in terms of the spectacles and goggles exports, with a CAGR of +2.6% from 2012 to 2021. The United Arab Emirates (-5.1%) and Turkey (-14.9%) illustrated a downward trend over the same period. While the share of Israel (+21 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-18.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) remains the largest spectacles and goggles supplier in the Middle East, comprising 89% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 6.3% share of total exports.

In Israel, spectacles and goggles exports expanded at an average annual rate of +27.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+12.8% per year) and Turkey (+3.9% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per unit, surging by 45% against the previous year. Overall, the export price saw significant growth. The growth pace was the most rapid in 2018 when the export price increased by 228% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is likely to continue growth in years to come.

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 the United Arab Emirates ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+24.6%), while the other leaders experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports in the Middle East

In 2021, the amount of spectacles and goggles imported in the Middle East reduced markedly to X units, with a decrease of -19.2% against 2020. Over the period under review, imports continue to indicate a abrupt descent. The growth pace was the most rapid in 2016 when imports increased by 37% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, spectacles and goggles imports shrank to $X in 2021. Overall, imports continue to indicate a slight slump. The pace of growth appeared the most rapid in 2016 with an increase of 38%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units) was the major importer of spectacles and goggles, generating 58% of total imports. Israel (X units) ranks second in terms of the total imports with a 14% share, followed by Turkey (7.5%). Iraq (X units), Iran (X units), Yemen (X units), Lebanon (X units) and Kuwait (X units) held a little share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of -11.3% from 2012 to 2021. At the same time, Yemen (+43.0%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +43.0% from 2012-2021. By contrast, Israel (-6.8%), Kuwait (-14.7%), Lebanon (-16.3%), Iraq (-21.8%), Turkey (-23.8%) and Iran (-26.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates, Israel and Yemen increased by +18, +8.1 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported spectacles and goggles in the Middle East, comprising 39% of total imports. The second position in the ranking was taken by Israel ($X), with an 18% share of total imports. It was followed by Turkey, with a 12% share.

In the United Arab Emirates, spectacles and goggles imports increased at an average annual rate of +3.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+6.6% per year) and Turkey (-10.7% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2021, picking up by 6.8% against the previous year. Over the period under review, the import price showed a resilient expansion. The pace of growth was the most pronounced in 2018 an increase of 98% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iraq ($X per unit), while Yemen ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+30.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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