Singapore: Personal Spectacle Optics Market 2024

Personal Spectacle Optics Market Size in Singapore

In 2022, the Singaporean personal spectacle optics market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Personal Spectacle Optics Production in Singapore

In value terms, personal spectacle optics production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production recorded a significant increase. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Personal Spectacle Optics Exports

Exports from Singapore

In 2022, personal spectacle optics exports from Singapore expanded markedly to X units, picking up by X% compared with the previous year's figure. Overall, exports, however, showed a perceptible setback. The pace of growth appeared the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, personal spectacle optics exports skyrocketed to $X in 2022. In general, exports, however, recorded a mild downturn. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X units), Malaysia (X units) and Panama (X units) were the main destinations of personal spectacle optics exports from Singapore, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for personal spectacle optics exported from Singapore were Australia ($X), Japan ($X) and Indonesia ($X), with a combined X% share of total exports. Thailand, Malaysia, Vietnam, Hong Kong SAR, China, the Philippines, South Korea, the United Arab Emirates, Panama and Peru lagged somewhat behind, together comprising a further X%.

Panama, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average personal spectacle optics export price stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, personal spectacle optics export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Panama ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Personal Spectacle Optics Imports

Imports into Singapore

In 2022, overseas purchases of personal spectacle optics were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, personal spectacle optics imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable decline. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and India (X units) were the main suppliers of personal spectacle optics imports to Singapore, together accounting for X% of total imports.

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

In value terms, Italy ($X) constituted the largest supplier of personal spectacle optics to Singapore, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average personal spectacle optics import price amounted to $X per unit, growing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Taiwan (Chinese) ($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 United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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