Singapore: Encased Lead Pencil Market 2024

Encased Lead Pencil Market Size in Singapore

In 2021, the Singaporean encased lead pencil market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, enjoyed prominent growth. Encased lead pencil consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Encased Lead Pencil Production in Singapore

In value terms, encased lead pencil production amounted to $X in 2021 estimated in export price. Over the period under review, production posted buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 131% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Encased Lead Pencil Exports

Exports from Singapore

In 2021, encased lead pencil exports from Singapore surged to X units, with an increase of 251% against 2020 figures. Overall, exports, however, showed a slight setback. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, encased lead pencil exports soared to $X in 2021. In general, exports posted a modest increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Philippines (X units) was the main destination for encased lead pencil exports from Singapore, accounting for a 57% share of total exports. Moreover, encased lead pencil exports to the Philippines exceeded the volume sent to the second major destination, the United States (X units), fivefold. Indonesia (X units) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume to the Philippines amounted to +67.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+80.0% per year) and Indonesia (-1.9% per year).

In value terms, the Philippines ($X) remains the key foreign market for encased lead pencil exports from Singapore, comprising 57% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by Indonesia, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value to the Philippines totaled +72.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+85.2% per year) and Indonesia (+0.9% per year).

Export Prices by Country

In 2021, the average encased lead pencil export price amounted to $X per unit, reducing by -30.6% against the previous year. Overall, the export price, however, continues to indicate a pronounced increase. The pace of growth appeared the most rapid in 2018 an increase of 33% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, the highest price was recorded for prices to Myanmar ($X per unit) and Malaysia ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+27.9%), while the prices for the other major destinations experienced more modest paces of growth.

Encased Lead Pencil Imports

Imports into Singapore

In 2021, approx. X units of pencils and crayons with leads encased in a rigid sheath were imported into Singapore; with an increase of 12% against the previous year's figure. In general, imports, however, showed a pronounced descent. The growth pace was the most rapid in 2014 when imports increased by 29%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, encased lead pencil imports soared to $X in 2021. Over the period under review, imports, however, recorded a pronounced slump. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest encased lead pencil supplier to Singapore, accounting for a 35% share of total imports. Moreover, encased lead pencil imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), twofold. The United States (X units) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-8.5% per year) and the United States (+3.3% per year).

In value terms, China ($X) constituted the largest supplier of encased lead pencil to Singapore, comprising 35% of total imports. The second position in the ranking was held by Indonesia ($X), with a 15% share of total imports. It was followed by the United States, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-7.1% per year) and the United States (+4.9% per year).

Import Prices by Country

The average encased lead pencil import price stood at $X per unit in 2021, surging by 6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2015 when the average import price increased by 14% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Vietnam ($X per unit) and Japan ($X per unit), while the price for Thailand ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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