Russian Federation: Golf Equipment Market 2024

Golf Equipment Market Size in the Russian Federation

The Russian golf equipment market dropped slightly to $X in 2022, approximately equating the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Golf Equipment Production in the Russian Federation

In value terms, golf equipment production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 36% against the previous year. Golf equipment production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Golf Equipment Exports

Exports from the Russian Federation

In 2022, the amount of golf clubs and other golf equipment exported from Russia was estimated at X units, surging by 1.7% against 2021 figures. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 2,864% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, golf equipment exports dropped notably to $X in 2022. In general, exports saw a significant expansion. The growth pace was the most rapid in 2013 with an increase of 1,662%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Kazakhstan (X units) was the main destination for golf equipment exports from Russia, with a 89% share of total exports. Moreover, golf equipment exports to Kazakhstan exceeded the volume sent to the second major destination, Belarus (X units), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Kazakhstan totaled +71.9%.

In value terms, Kazakhstan ($X) emerged as the key foreign market for golf clubs and other golf equipment exports from Russia, comprising 83% of total exports. The second position in the ranking was held by Belarus ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Kazakhstan stood at +90.3%.

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, which is down by -17.6% against the previous year. In general, the export price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2014 an increase of 144% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then declined markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per unit), while the average price for exports to Kazakhstan amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+56.6%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into the Russian Federation

In 2022, supplies from abroad of golf clubs and other golf equipment decreased by -63.2% to X units for the first time since 2016, thus ending a five-year rising trend. In general, imports faced a deep slump. The growth pace was the most rapid in 2021 with an increase of 54% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, golf equipment imports contracted sharply to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 51% against the previous year. As a result, imports reached the peak of $X, and then declined notably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest golf equipment supplier to Russia, with a 86% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The third position in this ranking was held by the UK (X units), with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+15.9% per year) and the UK (-18.2% per year).

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to Russia, comprising 82% of total imports. The second position in the ranking was taken by the UK ($X), with a 9.4% share of total imports. It was followed by Japan, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.5% per year) and Japan (+10.3% per year).

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, growing by 57% against the previous year. In general, the import price enjoyed a strong increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+21.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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