Southern Asia: Travel Set Market 2024

Travel Set Market Size in Southern Asia

In 2021, after three years of growth, there was significant decline in the South Asian travel set market, when its value decreased by -8.8% to $X. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.6% against 2017 indices. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Travel Set Production in Southern Asia

In value terms, travel set production dropped to $X in 2021 estimated in export price. In general, production, however, showed resilient growth. The growth pace was the most rapid in 2019 when the production volume increased by 51% against the previous year. The level of production peaked at $X in 2020, and then dropped in the following year.

Travel Set Exports

Exports in Southern Asia

In 2021, shipments abroad of travel sets increased by 13% to X units, rising for the fifth year in a row after two years of decline. Overall, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 68% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, travel set exports dropped sharply to $X in 2021. Over the period under review, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 104%. Over the period under review, the exports attained the peak figure at $X in 2020, and then contracted notably in the following year.

Exports by Country

In 2021, Bangladesh (X units) represented the main exporter of travel sets, creating 59% of total exports. Sri Lanka (X units) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by India (16%) and Nepal (5.2%). Pakistan (X units) held a relatively small share of total exports.

Bangladesh was also the fastest-growing in terms of the travel sets exports, with a CAGR of +103.4% from 2012 to 2021. At the same time, Sri Lanka (+32.4%) and Nepal (+19.1%) displayed positive paces of growth. By contrast, Pakistan (-2.2%) and India (-9.0%) illustrated a downward trend over the same period. While the share of Bangladesh (+59 p.p.), Sri Lanka (+14 p.p.) and Nepal (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Pakistan (-2.9 p.p.) and India (-70.8 p.p.) displayed negative dynamics.

In value terms, the largest travel set supplying countries in Southern Asia were Bangladesh ($X), India ($X) and Sri Lanka ($X), together accounting for 91% of total exports.

In terms of the main exporting countries, Bangladesh, with a CAGR of +90.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2021, which is down by -25.3% against the previous year. Over the period under review, the export price recorded a pronounced shrinkage. The growth pace was the most rapid in 2018 an increase of 21%. Over the period under review, the export prices reached the peak figure at $X per unit in 2020, and then fell dramatically in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Pakistan ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+5.8%), while the other leaders experienced more modest paces of growth.

Travel Set Imports

Imports in Southern Asia

In 2021, the amount of travel sets imported in Southern Asia amounted to X units, picking up by 14% compared with the previous year's figure. Over the period under review, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 110%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, travel set imports contracted to $X in 2021. Overall, imports, however, faced a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of 57%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

India (X units), Afghanistan (X units) and Bangladesh (X units) represented roughly 71% of total imports in 2021. Sri Lanka (X units) held the next position in the ranking, followed by Pakistan (X units). All these countries together took approx. 24% share of total imports. Maldives (X units) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Afghanistan (with a CAGR of +76.4%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, India ($X) constitutes the largest market for imported travel sets in Southern Asia, comprising 43% of total imports. The second position in the ranking was held by Sri Lanka ($X), with an 18% share of total imports. It was followed by Afghanistan, with a 15% share.

In India, travel set imports plunged by an average annual rate of -15.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Sri Lanka (-1.8% per year) and Afghanistan (+59.7% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2021, dropping by -19.3% against the previous year. In general, the import price showed a noticeable shrinkage. The growth pace was the most rapid in 2018 when the import price increased by 26%. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, 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 India (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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