Southern Asia: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Southern Asia

The South Asian spectacles and goggles market fell to $X in 2021, with a decrease of -13% against the previous year. Over the period under review, consumption showed a mild downturn. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Spectacles And Goggles Production in Southern Asia

In value terms, spectacles and goggles production rose rapidly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 37% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Spectacles And Goggles Exports

Exports in Southern Asia

In 2021, the amount of spectacles and goggles exported in Southern Asia totaled X units, picking up by 14% on the previous year's figure. Over the period under review, exports showed resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 259%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, spectacles and goggles exports soared to $X in 2021. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 145% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

India represented the major exporter of spectacles and goggles in Southern Asia, with the volume of exports accounting for X units, which was approx. 69% of total exports in 2021. Pakistan (X units) took the second position in the ranking, followed by Bangladesh (X units). All these countries together took near 31% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to spectacles and goggles exports from India stood at +22.2%. At the same time, Pakistan (+32.1%) and Bangladesh (+1.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +32.1% from 2012-2021. India (+24 p.p.) and Pakistan (+11 p.p.) significantly strengthened its position in terms of the total exports, while Bangladesh saw its share reduced by -35.2% from 2012 to 2021, respectively.

In value terms, India ($X) remains the largest spectacles and goggles supplier in Southern Asia, comprising 78% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 12% share of total exports.

In India, spectacles and goggles exports increased at an average annual rate of +34.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bangladesh (+29.4% per year) and Pakistan (+26.3% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2021, surging by 40% against the previous year. In general, the export price posted strong growth. The pace of growth appeared the most rapid in 2014 an increase of 48% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+27.6%), while the other leaders experienced mixed trends in the export price figures.

Spectacles And Goggles Imports

Imports in Southern Asia

Spectacles and goggles imports contracted dramatically to X units in 2021, declining by -84.7% compared with the previous year. In general, imports continue to indicate a abrupt decline. The growth pace was the most rapid in 2020 when imports increased by 309% against the previous year. As a result, imports attained the peak of X units, and then shrank sharply in the following year.

In value terms, spectacles and goggles imports contracted sharply to $X in 2021. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 164% against the previous year. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

India dominates imports structure, amounting to X units, which was approx. 90% of total imports in 2021. Pakistan (X units), Nepal (X units) and Sri Lanka (X units) followed a long way behind the leaders.

Imports into India decreased at an average annual rate of -16.8% from 2012 to 2021. At the same time, Nepal (+59.4%) and Pakistan (+9.6%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +59.4% from 2012-2021. Sri Lanka experienced a relatively flat trend pattern. Pakistan (+3.6 p.p.), Nepal (+2.3 p.p.) and Sri Lanka (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -9.1% from 2012 to 2021, respectively.

In value terms, India ($X) constitutes the largest market for imported spectacles and goggles in Southern Asia, comprising 59% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with an 8% share of total imports. It was followed by Pakistan, with a 6.6% share.

In India, spectacles and goggles imports declined by an average annual rate of -9.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Sri Lanka (+17.4% per year) and Pakistan (+1.6% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2021, rising by 80% against the previous year. In general, the import price continues to indicate a resilient expansion. 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 importing countries. In 2021, amid the top importers, the country with the highest price was Sri Lanka ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+16.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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