Pakistan: Fishing Rod Market 2024

Fishing Rod Market Size in Pakistan

In 2021, the Pakistani fishing rod market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, continues to indicate a perceptible contraction. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Fishing Rod Production in Pakistan

In value terms, fishing rod production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a slight decrease. The pace of growth was the most pronounced in 2017 with an increase of 31% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Fishing Rod Exports

Exports from Pakistan

In 2021, overseas shipments of fishing rods and other line fishing tackle increased by 7.9% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total exports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +77.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 65% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, fishing rod exports skyrocketed to $X in 2021. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 63% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for fishing rod exports from Pakistan, accounting for a 83% share of total exports. Moreover, fishing rod exports to the United States exceeded the volume sent to the second major destination, Sweden (X kg), more than tenfold. Cambodia (X kg) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+56.9% per year) and Cambodia (+29.1% per year).

In value terms, the United States ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from Pakistan, comprising 78% of total exports. The second position in the ranking was taken by Sweden ($X), with a 4.7% share of total exports. It was followed by Cambodia, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+73.6% per year) and Cambodia (+35.8% per year).

Export Prices by Country

In 2021, the average fishing rod export price amounted to $X per ton, growing by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2017 when the average export price increased by 58%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to the United Arab Emirates ($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 Sweden (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Pakistan

In 2021, overseas purchases of fishing rods and other line fishing tackle increased by 21% to X tons, rising for the second year in a row after two years of decline. In general, imports recorded a significant increase. The pace of growth was the most pronounced in 2014 when imports increased by 128% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, fishing rod imports soared to $X in 2021. Overall, imports recorded a significant expansion. The growth pace was the most rapid in 2014 when imports increased by 178% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Kenya (X kg) were the main suppliers of fishing rod imports to Pakistan, with a combined 96% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +36.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fishing rod suppliers to Pakistan were China ($X), the United Arab Emirates ($X) and Kenya ($X), together comprising 86% of total imports.

China, with a CAGR of +39.1%, saw the highest growth rate of 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

The average fishing rod import price stood at $X per ton in 2021, picking up by 48% against the previous year. In general, the import price, however, saw a slight curtailment. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Kenya ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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