Norway: Sunglasses Market 2024

Sunglasses Market Size in Norway

In 2022, the Norwegian sunglasses market decreased by -6.6% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +36.7% against 2018 indices. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Sunglasses Exports

Exports from Norway

In 2022, after three years of growth, there was significant decline in overseas shipments of sunglasses, when their volume decreased by -26.3% to X units. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 62%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, sunglasses exports skyrocketed to $X in 2022. Overall, exports, however, showed strong growth. The pace of growth was the most pronounced in 2019 when exports increased by 120%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Sweden (X units) was the main destination for sunglasses exports from Norway, with a 63% share of total exports. Moreover, sunglasses exports to Sweden exceeded the volume sent to the second major destination, Italy (X units), sevenfold. Taiwan (Chinese) (X units) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+5.0% per year) and Taiwan (Chinese) (+92.0% per year).

In value terms, Sweden ($X) remains the key foreign market for sunglasses exports from Norway, comprising 77% of total exports. The second position in the ranking was taken by Italy ($X), with a 12% share of total exports. It was followed by Finland, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value to Sweden totaled +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+6.5% per year) and Finland (+16.3% per year).

Export Prices by Country

In 2022, the average sunglasses export price amounted to $X per unit, jumping by 68% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Denmark ($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 Taiwan (Chinese) (+109.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Norway

In 2022, supplies from abroad of sunglasses increased by 1.2% to X units, rising for the second year in a row after four years of decline. The total import volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 38% against the previous year. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, sunglasses imports contracted to $X in 2022. Overall, imports recorded a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 50%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of sunglasses to Norway, with a 76% share of total imports. Moreover, sunglasses imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was held by Italy (X units), with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.6% per year) and Italy (+0.1% per year).

In value terms, the largest sunglasses suppliers to Norway were Italy ($X), China ($X) and the United States ($X), together accounting for 80% of total imports.

The United States, with a CAGR of +13.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sunglasses import price amounted to $X per unit, declining by -10.1% against the previous year. In general, the import price, however, continues to indicate buoyant growth. The growth pace was the most rapid in 2020 an increase of 40%. The import price peaked at $X per unit in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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