Nepal: Mounted Objective Lens Market 2024

Mounted Objective Lens Market Size in Nepal

The Nepalese mounted objective lens market declined to $X in 2022, waning by -10.8% against the previous year. Over the period under review, consumption recorded a abrupt contraction. Mounted objective lens consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Mounted Objective Lens Production in Nepal

In value terms, mounted objective lens production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt decline. The pace of growth was the most pronounced in 2013 with an increase of 53%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Mounted Objective Lens Exports

Exports from Nepal

In 2022, mounted objective lens exports from Nepal amounted to X units, rising by 6.8% compared with the previous year. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 1,072% against the previous year. Over the period under review, the exports attained the maximum at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, mounted objective lens exports reached $X in 2022. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 653% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units), South Africa (X units) and Canada (X units) were the main destinations of mounted objective lens exports from Nepal, with a combined 2.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +24.8%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) emerged as the key foreign market for mounted objective lenses exports from Nepal, comprising 49% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 6.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to South Africa amounted to +26.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+17.3% per year) and Canada (+9.0% per year).

Export Prices by Country

The average mounted objective lens export price stood at $X per unit in 2021, growing by 17% against the previous year. Overall, the export price, however, showed a abrupt downturn. The growth pace was the most rapid in 2013 when the average export price increased by 92%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while the average price for exports to Malaysia ($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 Africa (+19.2%), while the prices for the other major destinations experienced a decline.

Mounted Objective Lens Imports

Imports into Nepal

In 2022, supplies from abroad of mounted objective lenses increased by 59% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2016 with an increase of 314%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, mounted objective lens imports surged to $X in 2022. In general, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by 165%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X units), Hong Kong SAR (X units) and Japan (X units) were the main suppliers of mounted objective lens imports to Nepal, with a combined 14% share of total imports. The United Arab Emirates, Singapore, Thailand, the United States and India lagged somewhat behind, together accounting for a further 7.4%. Moreover, mounted objective lens imports in China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR, twofold.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +45.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mounted objective lens suppliers to Nepal were Hong Kong SAR ($X), China ($X) and Japan ($X), with a combined 61% share of total imports. Thailand, the United States, Singapore, India and the United Arab Emirates lagged somewhat behind, together accounting for a further 26%.

Thailand, with a CAGR of +93.6%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mounted objective lens import price stood at $X per unit in 2021, which is down by -22.4% against the previous year. Overall, the import price, however, showed resilient growth. The most prominent rate of growth was recorded in 2019 an increase of 71%. The import price peaked at $X per unit in 2015; however, from 2016 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 Hong Kong SAR ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+39.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform