Pakistan: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Pakistan

The Pakistani spectacle glass lenses market fell to $X in 2022, therefore, remained relatively stable 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, however, posted a buoyant expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Spectacle Glass Lenses Exports

Exports from Pakistan

In 2022, after two years of growth, there was significant decline in overseas shipments of spectacle lenses of glass or other materials, when their volume decreased by -32.5% to X units. In general, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 261% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, spectacle glass lenses exports contracted dramatically to $X in 2022. Over the period under review, exports, however, enjoyed noticeable growth. The most prominent rate of growth was recorded in 2013 when exports increased by 137% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for spectacle glass lenses exports from Pakistan, with a 80% share of total exports. Moreover, spectacle glass lenses exports to the United States exceeded the volume sent to the second major destination, Senegal (X units), tenfold. The third position in this ranking was taken by the UK (X units), with a 3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+18.5% per year) and the UK (+6.1% per year).

In value terms, the United States ($X) remains the key foreign market for spectacle lenses of glass or other materials exports from Pakistan, comprising 78% of total exports. The second position in the ranking was held by Senegal ($X), with a 13% share of total exports. It was followed by the UK, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+17.7% per year) and the UK (+12.7% per year).

Export Prices by Country

The average spectacle glass lenses export price stood at $X per unit in 2022, rising by 10% against the previous year. Over the period under review, the export price, however, recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2019 when the average export price increased by 69%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Senegal ($X per unit), while the average price for exports to South Africa ($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 UK (+6.3%), while the prices for the other major destinations experienced a decline.

Spectacle Glass Lenses Imports

Imports into Pakistan

Spectacle glass lenses imports into Pakistan fell to X units in 2022, with a decrease of -8% against 2021. Overall, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of 85%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, spectacle glass lenses imports amounted to $X in 2022. In general, imports, however, saw strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 69%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest spectacle glass lenses supplier to Pakistan, with a 88% share of total imports. Moreover, spectacle glass lenses imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), more than tenfold. Democratic People's Republic of Korea (X units) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+11.5% per year) and Democratic People's Republic of Korea (+15.1% per year).

In value terms, China ($X) constituted the largest supplier of spectacle lenses of glass or other materials to Pakistan, comprising 82% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 4.4% share of total imports. It was followed by Democratic People's Republic of Korea, with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+17.0% per year) and Democratic People's Republic of Korea (+10.7% per year).

Import Prices by Country

In 2022, the average spectacle glass lenses import price amounted to $X per unit, with an increase of 9.9% against the previous year. In general, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spectacle glass lenses import price increased by +51.0% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of 35% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for Democratic People's Republic of Korea ($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 (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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