Singapore: Market for Pen Or Pencil Sets 2024

Market Size for Pen Or Pencil Sets in Singapore

For the tenth year in a row, the Singaporean pen or pencil sets market recorded decline in sales value, which decreased by -36.3% to $X in 2022. Over the period under review, consumption recorded a deep setback. The pace of growth was the most pronounced in 2015 when the market value decreased by -6.9%. Pen or pencil sets consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Pen Or Pencil Sets in Singapore

In value terms, pen or pencil sets production reduced slightly to $X in 2022 estimated in export price. Overall, production recorded a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 536% against the previous year. Pen or pencil sets production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Pen Or Pencil Sets

Exports from Singapore

For the fifth year in a row, Singapore recorded growth in overseas shipments of pen or pencil sets, which increased by 102% to X units in 2022. In general, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 167%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, pen or pencil sets exports surged to $X in 2022. Over the period under review, exports posted a mild increase. The growth pace was the most rapid in 2018 with an increase of 103% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X units) was the main destination for pen or pencil sets exports from Singapore, accounting for a 73% share of total exports. Moreover, pen or pencil sets exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X units), sixfold. The third position in this ranking was taken by Australia (X units), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at +34.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+1.4% per year) and Australia (+28.6% per year).

In value terms, Malaysia ($X) remains the key foreign market for pen or pencil sets exports from Singapore, comprising 72% of total exports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total exports. It was followed by Australia, with an 8% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia amounted to +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-6.0% per year) and Australia (+19.4% per year).

Export Prices by Country

In 2022, the average pen or pencil sets export price amounted to $X per unit, with a decrease of -29.1% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2015 when the average export price increased by 42% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Malaysia ($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 South Korea (+10.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Pen Or Pencil Sets

Imports into Singapore

In 2022, overseas purchases of pen or pencil sets were finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, recorded a abrupt shrinkage. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, pen or pencil sets imports surged to $X in 2022. Over the period under review, imports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 84%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Germany (X units) and Japan (X units) were the main suppliers of pen or pencil sets imports to Singapore, together comprising 78% of total imports. These countries were followed by India, Malaysia, South Korea and Indonesia, which together accounted for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +40.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Japan ($X) constituted the largest pen or pencil sets suppliers to Singapore, together comprising 84% of total imports. Malaysia, South Korea, Indonesia and India lagged somewhat behind, together accounting for a further 13%.

South Korea, with a CAGR of +202.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average pen or pencil sets import price amounted to $X per unit, rising by 5% against the previous year. Overall, the import price recorded buoyant growth. The growth pace was the most rapid in 2021 when the average import price increased by 96%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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