Sri Lanka: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Sri Lanka

The Sri Lankan spectacles and goggles market totaled $X in 2021, with an increase of 4.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, posted a remarkable increase. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Spectacles And Goggles Exports

Exports from Sri Lanka

In 2021, overseas shipments of spectacles and goggles decreased by -61.9% to X units, falling for the fourth year in a row after two years of growth. In general, exports showed a deep setback. The growth pace was the most rapid in 2017 with an increase of 1,152% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, spectacles and goggles exports declined markedly to $X in 2021. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 1,459%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Solomon Islands (X units), Maldives (X units) and Ethiopia (X units) were the main destinations of spectacles and goggles exports from Sri Lanka, together comprising 81% of total exports. These countries were followed by Oman, Kenya, Haiti and the United Arab Emirates, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kenya (with a CAGR of +63.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spectacles and goggles exported from Sri Lanka were Oman ($X), Maldives ($X) and Solomon Islands ($X), together accounting for 80% of total exports. These countries were followed by Ethiopia, Kenya, Haiti and the United Arab Emirates, which together accounted for a further 17%.

Among the main countries of destination, Ethiopia, with a CAGR of +36.6%, recorded the highest rates of growth with regard to 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

In 2021, the average spectacles and goggles export price amounted to $X per unit, waning by -27.3% against the previous year. Over the period under review, the export price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2018 an increase of 123% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per unit), while the average price for exports to Solomon Islands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+26.5%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports into Sri Lanka

In 2021, spectacles and goggles imports into Sri Lanka fell rapidly to X units, which is down by -15.3% on 2020 figures. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 182%. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, spectacles and goggles imports soared to $X in 2021. Overall, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 183%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of spectacles and goggles to Sri Lanka, with a 96% share of total imports. It was followed by the United Arab Emirates (X units), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +1.3%.

In value terms, China ($X) constituted the largest supplier of spectacles and goggles to Sri Lanka, comprising 61% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +19.4%.

Import Prices by Country

The average spectacles and goggles import price stood at $X per unit in 2021, growing by 51% against the previous year. In general, the import price continues to indicate a prominent increase. The pace of growth was the most pronounced in 2018 when the average import price increased by 158%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+44.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :