Pakistan: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Pakistan

In 2021, after two years of decline, there was growth in the Pakistani spectacles and goggles market, when its value increased by 2.2% to $X. In general, consumption recorded a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Spectacles And Goggles Production in Pakistan

In value terms, spectacles and goggles production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2016 with an increase of 112% against the previous year. Spectacles and goggles production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Spectacles And Goggles Exports

Exports from Pakistan

After nine years of growth, overseas shipments of spectacles and goggles decreased by -6.6% to X units in 2021. Over the period under review, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 126% against the previous year. Over the period under review, the exports hit record highs at X units in 2020, and then contracted in the following year.

In value terms, spectacles and goggles exports fell to $X in 2021. In general, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2013 with an increase of 71% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020, and then shrank in the following year.

Exports by Country

South Africa (X units), the United States (X units) and the UK (X units) were the main destinations of spectacles and goggles exports from Pakistan, together accounting for 98% of total exports.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +41.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for spectacles and goggles exports from Pakistan, comprising 80% of total exports. The second position in the ranking was taken by South Africa ($X), with a 9.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+27.5% per year) and the UK (+25.3% per year).

Export Prices by Country

The average spectacles and goggles export price stood at $X per unit in 2021, shrinking by -2.1% against the previous year. In general, the export price showed a noticeable setback. The growth pace was the most rapid in 2016 an increase of 49% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, 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 the United States ($X per unit), while the average price for exports to South Africa ($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 the United States (-2.4%), while the prices for the other major destinations experienced a decline.

Spectacles And Goggles Imports

Imports into Pakistan

In 2021, the amount of spectacles and goggles imported into Pakistan dropped notably to X units, falling by -33.3% against the year before. Overall, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 335%. Over the period under review, imports hit record highs at X units in 2020, and then shrank significantly in the following year.

In value terms, spectacles and goggles imports declined significantly to $X in 2021. Over the period under review, imports, however, recorded modest growth. The pace of growth was the most pronounced in 2016 with an increase of 169% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then fell remarkably in the following year.

Imports by Country

In 2021, China (X units) constituted the largest spectacles and goggles supplier to Pakistan, accounting for a 80% share of total imports. Moreover, spectacles and goggles imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), tenfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+17.2% per year) and Taiwan (Chinese) (+26.1% per year).

In value terms, China ($X) constituted the largest supplier of spectacles and goggles to Pakistan, comprising 67% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports. It was followed by Taiwan (Chinese), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.7% per year) and Taiwan (Chinese) (+19.4% per year).

Import Prices by Country

In 2021, the average spectacles and goggles import price amounted to $X per unit, falling by -46% against the previous year. In general, the import price saw a abrupt descent. The pace of growth appeared the most rapid in 2018 when the average import price increased by 77%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-5.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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