Nepal: Sunglasses Market 2024

Sunglasses Market Size in Nepal

The Nepalese sunglasses market declined remarkably to $X in 2022, shrinking by -40.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a abrupt contraction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Sunglasses Exports

Exports from Nepal

In 2022, sunglasses exports from Nepal fell significantly to X units, with a decrease of -32.6% on 2021. Over the period under review, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2017 with an increase of 3,767%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, sunglasses exports shrank rapidly to $X in 2022. In general, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 4,177% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell markedly in the following year.

Exports by Country

Switzerland (X units) was the main destination for sunglasses exports from Nepal, with a 83% share of total exports. It was followed by Cyprus (X units), with a 1.7% share of total exports. Austria (X units) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Switzerland amounted to +54.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (-85.7% per year) and Austria (0.0% per year).

In value terms, Switzerland ($X) emerged as the key foreign market for sunglasses exports from Nepal, comprising 73% of total exports. The second position in the ranking was taken by South Korea ($X), with a 3% share of total exports. It was followed by the Netherlands, with a 0.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Switzerland amounted to +74.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-39.3% per year) and the Netherlands (+47.2% per year).

Export Prices by Country

In 2022, the average sunglasses export price amounted to $X per unit, which is down by -21.9% against the previous year. Overall, the export price, however, saw significant growth. The growth pace was the most rapid in 2021 an increase of 258% against the previous year. As a result, the export price attained the peak level of $X per unit, and then shrank significantly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Belgium ($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 the United Arab Emirates (+116.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Nepal

In 2022, approx. X units of sunglasses were imported into Nepal; with a decrease of -49.4% on 2021 figures. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 1,611%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, sunglasses imports contracted markedly to $X in 2022. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 2,860% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), India (X units) and Italy (X units) were the main suppliers of sunglasses imports to Nepal, with a combined 83% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +86.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of sunglasses to Nepal, comprising 51% of total imports. The second position in the ranking was taken by Italy ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+63.5% per year) and India (+77.4% per year).

Import Prices by Country

In 2022, the average sunglasses import price amounted to $X per unit, picking up by 34% against the previous year. Overall, the import price continues to indicate a significant expansion. The growth pace was the most rapid in 2016 when the average import price increased by 201% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

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 Italy ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+54.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform