Singapore: Fishing Rod Market 2024

Fishing Rod Market Size in Singapore

The Singaporean fishing rod market skyrocketed to $X in 2021, increasing by 18% against the previous year. Over the period under review, consumption posted a significant expansion. Fishing rod consumption peaked in 2021 and is expected to retain growth in the near future.

Fishing Rod Production in Singapore

In value terms, fishing rod production amounted to $X in 2021 estimated in export price. Over the period under review, production saw a sharp descent. The most prominent rate of growth was recorded in 2013 with a decrease of -55%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Fishing Rod Exports

Exports from Singapore

Fishing rod exports from Singapore skyrocketed to X tons in 2021, increasing by 20% on the previous year. In general, exports, however, saw a drastic downturn. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, fishing rod exports expanded significantly to $X in 2021. Over the period under review, exports, however, faced a abrupt slump. The growth pace was the most rapid in 2017 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for fishing rod exports from Singapore, accounting for a 36% share of total exports. Moreover, fishing rod exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. Japan (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia amounted to -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-14.4% per year) and Japan (-24.7% per year).

In value terms, Indonesia ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from Singapore, comprising 29% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports. It was followed by Japan, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia amounted to -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-12.8% per year) and Japan (-21.2% per year).

Export Prices by Country

The average fishing rod export price stood at $X per ton in 2021, falling by -7.5% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fishing rod export price decreased by -36.6% against 2018 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 40% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Singapore

After three years of decline, purchases abroad of fishing rods and other line fishing tackle increased by 14% to X tons in 2021. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% 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 -23.9% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 68% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, fishing rod imports skyrocketed to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +12.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 70%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of fishing rod to Singapore, accounting for a 43% share of total imports. Moreover, fishing rod imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. The third position in this ranking was held by Japan (X tons), with a 19% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+6.2% per year) and Japan (+3.1% per year).

In value terms, Malaysia ($X) constituted the largest supplier of fishing rods and other line fishing tackle to Singapore, comprising 50% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 20% share of total imports. It was followed by Japan, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia totaled +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+12.4% per year) and Japan (+6.9% per year).

Import Prices by Country

In 2021, the average fishing rod import price amounted to $X per ton, picking up by 8.4% against the previous year. Over the last nine years, it increased at an average annual rate of +5.3%. The growth pace was the most rapid in 2014 an increase of 18% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Malaysia ($X per ton) and Indonesia ($X per ton), while the price for Japan ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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