SADC: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in SADC

The SADC spectacles and goggles market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, recorded a abrupt slump. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Spectacles And Goggles Production in SADC

In value terms, spectacles and goggles production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt decline. The growth pace was the most rapid in 2017 when the production volume increased by 50%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Spectacles And Goggles Exports

Exports in SADC

In 2021, the amount of spectacles and goggles exported in SADC surged to X units, picking up by 28% against the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, spectacles and goggles exports surged to $X in 2021. The total export value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, South Africa (X units) represented the main exporter of spectacles and goggles, creating 81% of total exports. It was distantly followed by Mauritius (X units), making up a 15% share of total exports. Mozambique (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to spectacles and goggles exports from South Africa stood at -2.6%. At the same time, Mozambique (+110.2%) and Mauritius (+34.5%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing exporter exported in SADC, with a CAGR of +110.2% from 2012-2021. While the share of Mauritius (+14 p.p.) and Mozambique (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-17.3 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest spectacles and goggles supplier in SADC, comprising 76% of total exports. The second position in the ranking was held by Mauritius ($X), with a 22% share of total exports.

In South Africa, spectacles and goggles exports expanded at an average annual rate of +1.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mauritius (+23.4% per year) and Mozambique (+7.3% per year).

Export Prices by Country

In 2021, the export price in SADC amounted to $X per unit, rising by 6.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.4%. The growth pace was the most rapid in 2019 when the export price increased by 34%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mauritius ($X per unit), while Mozambique (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+4.3%), while the other leaders experienced a decline in the export price figures.

Spectacles And Goggles Imports

Imports in SADC

Spectacles and goggles imports rose slightly to X units in 2021, growing by 1.7% compared with the previous year. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.4% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 32% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, spectacles and goggles imports soared to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Africa dominates imports structure, recording X units, which was approx. 84% of total imports in 2021. The following importers - Madagascar (X units), Malawi (X units), Mauritius (X units) and Zimbabwe (X units) - each amounted to an 8.3% share of total imports.

Imports into South Africa increased at an average annual rate of +3.1% from 2012 to 2021. At the same time, Malawi (+41.8%), Madagascar (+19.8%), Mauritius (+15.9%) and Zimbabwe (+11.8%) displayed positive paces of growth. Moreover, Malawi emerged as the fastest-growing importer imported in SADC, with a CAGR of +41.8% from 2012-2021. South Africa (+2.5 p.p.), Malawi (+2.2 p.p.) and Madagascar (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported spectacles and goggles in SADC, comprising 54% of total imports. The second position in the ranking was held by Malawi ($X), with a 9.7% share of total imports. It was followed by Zimbabwe, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at -1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Malawi (+55.0% per year) and Zimbabwe (+22.8% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2021, surging by 30% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Malawi ($X per unit), while South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zimbabwe (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform