Puerto Rico: Binocular Market 2024

Binocular Market Size in Puerto Rico

The Puerto Rican binocular market amounted to less than $X in 2021, flattening at 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). Overall, consumption recorded a relatively flat trend pattern.

Binocular Exports

Exports from Puerto Rico

In 2021, binocular exports from Puerto Rico totaled less than X units, stabilizing at the previous year. In general, exports saw a relatively flat trend pattern.

In value terms, binocular exports stood at less than $X in 2021. Overall, exports saw a relatively flat trend pattern.

Exports by Country

China prevails in exports structure, recording X units, which was approx. 77% of total exports in 2021. It was distantly followed by Hong Kong SAR (X units), mixing up a 5% share of total exports. Germany (X units), the United States (X units), Belgium (X units) and the Netherlands (X units) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -5.2% from 2012 to 2021. At the same time, Belgium (+5.5%) and the United States (+3.2%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of +5.5% from 2012-2021. By contrast, Germany (-6.0%), Hong Kong SAR (-6.8%) and the Netherlands (-7.7%) illustrated a downward trend over the same period. China (-4.5 p.p.) significantly weakened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest binocular supplier from Puerto Rico, comprising 31% of global exports. The second position in the ranking was taken by the United States ($X), with a 13% share of global exports. It was followed by Germany, with an 11% share.

In China, binocular exports increased at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United States (+8.6% per year) and Germany (+0.9% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per thousand units in 2021, almost unchanged from the previous year. Over the period under review, the export price recorded a relatively flat trend pattern.

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 the United States ($X per thousand units), while China ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.5%), while the other leaders experienced more modest paces of growth.

Binocular Imports

Imports into Puerto Rico

In 2021, approx. less than X units of binoculars were imported into Puerto Rico; remaining constant against the year before. Over the period under review, imports recorded a relatively flat trend pattern.

In value terms, binocular imports totaled less than $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern.

Imports by Country

The United States was the largest importer of binoculars in the world, with the volume of imports amounting to X units, which was near 29% of total imports in 2021. It was distantly followed by Germany (X units), Japan (X units) and Hong Kong SAR (X units), together creating a 19% share of total imports. The following importers - the UK (X units), France (X units), the Netherlands (X units), Belgium (X units), Canada (X units), Poland (X units), Russia (X units), Austria (X units) and Indonesia (X units) - together made up 26% of total imports.

From 2012 to 2021, average annual rates of growth with regard to binocular imports into the United States stood at -3.4%. At the same time, Indonesia (+31.6%), Poland (+13.1%), Belgium (+6.6%) and Austria (+5.0%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +31.6% from 2012-2021. Canada experienced a relatively flat trend pattern. By contrast, France (-2.3%), the Netherlands (-3.5%), Russia (-4.5%), the UK (-5.2%), Germany (-6.3%), Japan (-6.5%) and Hong Kong SAR (-9.7%) illustrated a downward trend over the same period. While the share of the United States (+3.4 p.p.), Belgium (+2.1 p.p.), Poland (+2 p.p.) and Indonesia (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Hong Kong SAR (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported binoculars into Puerto Rico, comprising 29% of global imports. The second position in the ranking was held by Germany ($X), with a 10% share of global imports. It was followed by Hong Kong SAR, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value in the United States totaled +3.8%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+4.0% per year) and Hong Kong SAR (-2.2% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per thousand units in 2021, approximately mirroring the previous year. Overall, the import price saw a relatively flat trend pattern.

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 Austria ($X per thousand units), while Belgium ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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