Pakistan: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in Pakistan

The Pakistani direction finding compass market reduced dramatically to $X in 2021, which is down by -63.3% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Direction Finding Compass Production in Pakistan

In value terms, direction finding compass production fell slightly to $X in 2021 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +9.7% against 2015 indices. The most prominent rate of growth was recorded in 2015 with an increase of 37% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then shrank in the following year.

Direction Finding Compass Exports

Exports from Pakistan

In 2021, shipments abroad of direction finding compasses decreased by -39.2% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 411% against the previous year. As a result, the exports reached the peak of X units, and then declined markedly in the following year.

In value terms, direction finding compass exports dropped notably to $X in 2021. In general, exports, however, saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of 1,309%. As a result, the exports reached the peak of $X, and then contracted significantly in the following year.

Exports by Country

The United Arab Emirates (X units), Egypt (X units) and Turkey (X units) were the main destinations of direction finding compass exports from Pakistan, with a combined 54% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +33.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for direction finding compasses exports from Pakistan, comprising 44% of total exports. The second position in the ranking was taken by Egypt ($X), with a 14% share of total exports. It was followed by Turkey, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at +44.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+28.4% per year) and Turkey (+118.8% per year).

Export Prices by Country

The average direction finding compass export price stood at $X per unit in 2021, shrinking by -52.3% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 179% against the previous year. As a result, the export price attained the peak level of $X per unit, and then shrank rapidly in the following year.

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 the United Arab Emirates ($X per unit), while the average price for exports to Canada ($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 Austria (+26.6%), while the prices for the other major destinations experienced more modest paces of growth.

Direction Finding Compass Imports

Imports into Pakistan

In 2021, direction finding compass imports into Pakistan contracted remarkably to X units, which is down by -85.7% on 2020. In general, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of 594% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, direction finding compass imports fell sharply to $X in 2021. Overall, imports, however, recorded strong growth. The growth pace was the most rapid in 2014 when imports increased by 289%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Canada (X units), Italy (X units) and China (X units) were the main suppliers of direction finding compass imports to Pakistan, together accounting for 70% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +39.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X) constituted the largest supplier of direction finding compasses to Pakistan, comprising 32% of total imports. The second position in the ranking was taken by Italy ($X), with a 12% share of total imports. It was followed by Singapore, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Finland amounted to +110.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+92.9% per year) and Singapore (+62.2% per year).

Import Prices by Country

In 2021, the average direction finding compass import price amounted to $X per unit, with an increase of 32% against the previous year. Over the period under review, the import price enjoyed a remarkable increase. The pace of growth was the most pronounced in 2017 an increase of 135%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+58.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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