Pakistan: Sunglasses Market 2024

Sunglasses Market Size in Pakistan

In 2022, the Pakistani sunglasses market decreased by -19.2% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Sunglasses Exports

Exports from Pakistan

In 2022, approx. X units of sunglasses were exported from Pakistan; falling by -32.2% compared with 2021. Overall, exports, however, posted prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 691% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, sunglasses exports reduced remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 501% against the previous year. The exports peaked at $X in 2021, and then reduced markedly in the following year.

Exports by Country

The UK (X units) was the main destination for sunglasses exports from Pakistan, accounting for a 82% share of total exports. Moreover, sunglasses exports to the UK exceeded the volume sent to the second major destination, Mauritius (X units), more than tenfold. The third position in this ranking was held by Sudan (X units), with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to +62.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (+33.5% per year) and Sudan (+32.0% per year).

In value terms, the UK ($X) remains the key foreign market for sunglasses exports from Pakistan, comprising 81% of total exports. The second position in the ranking was held by the United States ($X), with a 5% share of total exports. It was followed by Saudi Arabia, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to +72.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.3% per year) and Saudi Arabia (-3.3% per year).

Export Prices by Country

The average sunglasses export price stood at $X per unit in 2022, flattening at the previous year. In general, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunglasses export price decreased by -5.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 70%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Mauritius ($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 United States (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Pakistan

After three years of growth, purchases abroad of sunglasses decreased by -40.1% to X units in 2022. Over the period under review, imports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2020 with an increase of 53% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, sunglasses imports reduced to $X in 2022. In general, imports, however, saw a noticeable expansion. The growth pace was the most rapid in 2020 with an increase of 68%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main sunglasses supplier to Pakistan, accounting for a 91% share of total imports. Moreover, sunglasses imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at -2.9%.

In value terms, China ($X) constituted the largest supplier of sunglasses to Pakistan, comprising 85% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +1.6%.

Import Prices by Country

In 2022, the average sunglasses import price amounted to $X per unit, increasing by 55% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunglasses import price increased by +61.7% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%).

Source: IndexBox Platform

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