Norway: Fishing Rod Market 2024

Fishing Rod Market Size in Norway

The Norwegian fishing rod market surged to $X in 2021, picking up by 24% 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). The market value increased at an average annual rate of +5.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Fishing rod consumption peaked in 2021 and is expected to retain growth in the immediate term.

Fishing Rod Exports

Exports from Norway

In 2021, overseas shipments of fishing rods and other line fishing tackle were finally on the rise to reach X tons after two years of decline. Overall, exports, however, faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 31%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, fishing rod exports rose to $X in 2021. In general, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of 10%. 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

Faroe Islands (X tons), Latvia (X tons) and Sweden (X tons) were the main destinations of fishing rod exports from Norway, with a combined 55% share of total exports. Russia, Turkey, Denmark, Peru, Canada, Bolivia, Iceland, Croatia, the United States and China lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Croatia (with a CAGR of +45.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from Norway, comprising 23% of total exports. The second position in the ranking was held by Russia ($X), with a 9.2% share of total exports. It was followed by Denmark, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden stood at -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+23.8% per year) and Denmark (-7.6% per year).

Export Prices by Country

The average fishing rod export price stood at $X per ton in 2021, declining by -8.5% against the previous year. In general, the export price, however, showed buoyant growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 71%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+42.8%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Norway

In 2021, purchases abroad of fishing rods and other line fishing tackle increased by 5.1% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 44% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, fishing rod imports soared to $X in 2021. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest fishing rod supplier to Norway, accounting for a 70% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Sweden (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.4% per year) and Sweden (+1.9% per year).

In value terms, China ($X) constituted the largest supplier of fishing rods and other line fishing tackle to Norway, comprising 52% of total imports. The second position in the ranking was held by Sweden ($X), with an 8.3% share of total imports. It was followed by the United States, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+6.2% per year) and the United States (-0.8% per year).

Import Prices by Country

In 2021, the average fishing rod import price amounted to $X per ton, growing by 28% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sweden ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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