Nepal: Golf Equipment Market 2024

Golf Equipment Market Size in Nepal

The Nepalese golf equipment market shrank to $X in 2022, remaining constant against the previous year. Over the period under review, consumption recorded a slight increase. Golf equipment consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Golf Equipment Production in Nepal

In value terms, golf equipment production contracted modestly to $X in 2022 estimated in export price. Overall, production showed a perceptible expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 90% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Golf Equipment Exports

Exports from Nepal

In 2022, shipments abroad of golf clubs and other golf equipment decreased by -42.3% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by 568%. As a result, the exports attained the peak of X units, and then contracted dramatically in the following year.

In value terms, golf equipment exports shrank markedly to $X in 2022. In general, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 674% against the previous year. As a result, the exports attained the peak of $X, and then declined notably in the following year.

Exports by Country

The United States (X units) was the main destination for golf equipment exports from Nepal, with a 97% share of total exports. It was followed by Canada (X units), with a 2.5% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +114.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-6.5% per year) and Spain (-39.2% per year).

In value terms, the United States ($X) remains the key foreign market for golf clubs and other golf equipment exports from Nepal, comprising 99% of total exports. The second position in the ranking was taken by Canada ($X), with a 0.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +121.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-7.5% per year) and Spain (-26.1% per year).

Export Prices by Country

In 2022, the average golf equipment export price amounted to $X per unit, dropping by -1.9% against the previous year. Over the period under review, the export price, however, posted resilient growth. The growth pace was the most rapid in 2015 an increase of 119% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+21.6%), while the prices for the other major destinations experienced mixed trend patterns.

Golf Equipment Imports

Imports into Nepal

In 2022, purchases abroad of golf clubs and other golf equipment was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a sharp contraction. The most prominent rate of growth was recorded in 2014 with an increase of 30% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, golf equipment imports rose markedly to $X in 2022. In general, imports, however, faced a sharp decline. The pace of growth was the most pronounced in 2018 with an increase of 422%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Indonesia (X units) and South Korea (X units) were the main suppliers of golf equipment imports to Nepal, together accounting for 73% of total imports. India, Malaysia, the United States and Thailand lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +11.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest golf equipment suppliers to Nepal were China ($X), Indonesia ($X) and India ($X), together comprising 69% of total imports. South Korea, Malaysia, the United States and Thailand lagged somewhat behind, together comprising a further 25%.

In terms of the main suppliers, Malaysia, with a CAGR of +11.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, dropping by -2.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 1,829%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform