Cuba: Spectacle Glass Lenses Market 2022

Spectacle Glass Lenses Market Size in Cuba

The Cuban spectacle glass lenses market shrank modestly to $X in 2021, waning by -2.8% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Spectacle Glass Lenses Production in Cuba

In value terms, spectacle glass lenses production fell modestly to $X in 2021 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -25.3% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 62% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Spectacle Glass Lenses Exports

Exports from Cuba

In 2016, overseas shipments of spectacle lenses of glass or other materials decreased by 0% to X kg for the first time since 2013, thus ending a two-year declining trend. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2013 when exports increased by 825,100%. As a result, the exports attained the peak of X tons. From 2014 to 2016, the growth of the exports failed to regain momentum.

In value terms, spectacle glass lenses exports totaled $X in 2016. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 196,459% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2016, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Canada (X kg) was the main destination for spectacle glass lenses exports from Cuba, with a approx. 100% share of total exports.

From 2012 to 2016, the average annual rate of growth in terms of volume to Canada was relatively modest.

From 2012 to 2016, the average annual rate of growth in terms of value to Canada was relatively modest.

Export Prices by Country

In 2016, the average spectacle glass lenses export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price continues to indicate a dramatic decrease. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2016, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2016, the rate of growth in terms of prices for Canada amounted to 0.0% per year.

Spectacle Glass Lenses Imports

Imports into Cuba

In 2021, imports of spectacle lenses of glass or other materials into Cuba soared to X tons, increasing by 53% against the year before. Overall, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2014 when imports increased by 171%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, spectacle glass lenses imports surged to $X in 2021. In general, imports, however, faced a deep setback. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of spectacle glass lenses to Cuba, with a 65% share of total imports. Moreover, spectacle glass lenses imports from China exceeded the figures recorded by the second-largest supplier, Panama (X kg), twofold. The third position in this ranking was held by Canada (X kg), with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-7.2% per year) and Canada (+7.8% per year).

In value terms, Panama ($X), China ($X) and Italy ($X) were the largest spectacle glass lenses suppliers to Cuba, together accounting for 95% of total imports.

Among the main suppliers, Panama, with a CAGR of +12.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average spectacle glass lenses import price amounted to $X per ton, rising by 14% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacle glass lenses import price increased by +71.8% against 2016 indices. The growth pace was the most rapid in 2013 an increase of 61%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

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Source: IndexBox Platform

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