Cyprus: Home Appliance Market 2020

Home Appliance Market Size in Cyprus

The revenue of the home appliance market in Cyprus amounted to $X in 2018, rising by X% 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). In general, home appliance consumption, however, continues to indicate an abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the home appliance market attained its maximum level at $X in 2007; however, from 2008 to 2018, consumption stood at a somewhat lower figure.

Home Appliance Exports

Exports from Cyprus

In 2018, approx. X tons of domestic, non-electric, cooking or heating appliances were exported from Cyprus; coming down by -X% against the previous year. In general, home appliance exports continue to indicate a deep decline. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. In that year, home appliance exports reached their peak of X tons, and then declined slightly in the following year.

In value terms, home appliance exports stood at $X in 2018. Over the period under review, home appliance exports continue to indicate a deep decline. The growth pace was the most rapid in 2012 when exports increased by X% against the previous year. Cyprus exports peaked at $X in 2007; however, from 2008 to 2018, exports remained at a lower figure.

Exports by Country

China dominates home appliance exports structure, resulting at X tons, which was approx. X% of total exports in 2018. Turkey (X tons) held a X% share (based on tons) of total exports, which put it in second place, followed by Mexico (X%) and the U.S. (X%). Italy (X tons), Belarus (X tons), Germany (X tons) and Ecuador (X tons) occupied a relatively small share of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Mexico (+X%) and Turkey (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. The U.S., Belarus and Germany experienced a relatively flat trend pattern. By contrast, Ecuador (-X%) and Italy (-X%) illustrated a downward trend over the same period. China (+X p.p.), Mexico (+X p.p.) and Turkey (+X p.p.) significantly strengthened its position in terms of the global exports, while Italy saw its share reduced by -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest home appliance supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of global exports. It was followed by Italy, with a X% share.

In China, home appliance exports expanded at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+X% per year) and Italy (-X% per year).

Export Prices by Country

In 2018, the home appliance export price in Cyprus amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the home appliance export price, however, continues to indicate a perceptible deduction. The most prominent rate of growth was recorded in 2012 when the export price increased by X% against the previous year. Over the period under review, the export prices for domestic, non-electric, cooking or heating appliances attained their peak figure at $X per ton in 2007; however, from 2008 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Italy ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Mexico, while the other leaders experienced more modest paces of growth.

Home Appliance Imports

Imports into Cyprus

In 2018, the imports of domestic, non-electric, cooking or heating appliances into Cyprus totaled X tons, rising by X% against the previous year. Over the period under review, home appliance imports, however, continue to indicate a deep deduction. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, home appliance imports reached their peak figure at X tons in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, home appliance imports stood at $X in 2018. In general, home appliance imports, however, continue to indicate a drastic drop. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. Cyprus imports peaked at $X in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

The U.S. represented the main importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Germany (X tons), generating a X% share of total imports. The following importers - the UK (X tons), France (X tons), Canada (X tons), the Netherlands (X tons), Russia (X tons), Algeria (X tons), Australia (X tons) and Saudi Arabia (X tons) - together made up X% of total imports.

The U.S. experienced a relatively flat trend pattern of domestic, non-electric, cooking or heating appliances imports. At the same time, Algeria (+X%), Germany (+X%), the Netherlands (+X%) and Saudi Arabia (+X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. France, the UK and Russia experienced a relatively flat trend pattern. By contrast, Canada (-X%) and Australia (-X%) illustrated a downward trend over the same period. While the share of Germany (+X p.p.) and Algeria (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of Australia (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported domestic, non-electric, cooking or heating appliances into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by Canada, with a X% share.

In the U.S., home appliance imports expanded at an average annual rate of +X% over the period from 2007-2018. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Canada (+X% per year).

Import Prices by Country

In 2018, the home appliance import price in Cyprus amounted to $X per ton, growing by X% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2009 an increase of X% y-o-y. Cyprus import price peaked at $X per ton in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Canada ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Saudi Arabia, while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform