Puerto Rico: Personal Spectacle Optics Market 2024

Personal Spectacle Optics Market Size in Puerto Rico

The Puerto Rican personal spectacle optics market fell to $X in 2021, declining by -1.5% against the previous year. Over the period under review, consumption, however, showed a remarkable increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Personal Spectacle Optics Production in Puerto Rico

In value terms, personal spectacle optics production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw strong growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 64% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Personal Spectacle Optics Exports

Exports from Puerto Rico

In 2021, the amount of personal spectacle optics exported from Puerto Rico totaled less than X units, approximately mirroring 2020 figures. Over the period under review, exports saw a relatively flat trend pattern.

In value terms, personal spectacle optics exports stood at less than $X in 2021. In general, exports recorded a relatively flat trend pattern.

Exports by Country

China dominates exports structure, resulting at X units, which was near 62% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X units) and Italy (X units), together achieving a 14% share of total exports. The following exporters - the Netherlands (X units), the United States (X units), Hong Kong SAR (X units), Germany (X units), France (X units) and the UK (X units) - together made up 13% of total exports.

China was also the fastest-growing in terms of the personal spectacle optics exports, with a CAGR of +17.1% from 2012 to 2021. At the same time, the Netherlands (+14.9%), France (+3.4%), Germany (+2.6%), Italy (+1.4%) and Taiwan (Chinese) (+1.3%) displayed positive paces of growth. The United States experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-5.3%) and the UK (-7.2%) illustrated a downward trend over the same period. China (+31 p.p.) significantly strengthened its position in terms of the global exports, while the UK, the United States, Italy, Hong Kong SAR and Taiwan (Chinese) saw its share reduced by -2.9%, -3.3%, -4.3%, -6% and -7.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest personal spectacle optics supplying countries from Puerto Rico were China ($X), Italy ($X) and Hong Kong SAR ($X), together comprising 66% of total exports. These countries were followed by the United States, Taiwan (Chinese), Germany, France, the Netherlands and the UK, which together accounted for a further 20%.

The Netherlands, with a CAGR of +9.7%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per thousand units, therefore, remained relatively stable against the previous year. In general, 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 Italy ($X per thousand units), while Taiwan (Chinese) ($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 Hong Kong SAR (+8.5%), while the other leaders experienced more modest paces of growth.

Personal Spectacle Optics Imports

Imports into Puerto Rico

In 2021, approx. less than X units of personal spectacle optics were imported into Puerto Rico; standing approx. at 2020. Overall, imports showed a relatively flat trend pattern.

In value terms, personal spectacle optics imports amounted to less than $X in 2021. Over the period under review, imports saw a relatively flat trend pattern.

Imports by Country

The United States represented the largest importer of personal spectacle optics in the world, with the volume of imports reaching X units, which was near 27% of total imports in 2021. The following importers - Germany (X units), Italy (X units), Spain (X units), Australia (X units), France (X units), the UK (X units), Indonesia (X units), Russia (X units), Hong Kong SAR (X units), Malawi (X units), the Netherlands (X units) and Mexico (X units) - together made up 36% of total imports.

Imports into the United States increased at an average annual rate of +8.2% from 2012 to 2021. At the same time, Malawi (+86.1%), the Netherlands (+7.0%), Italy (+6.5%), Spain (+5.7%), Indonesia (+4.5%), Mexico (+3.3%), Russia (+2.4%) and Australia (+1.5%) displayed positive paces of growth. Moreover, Malawi emerged as the fastest-growing importer imported in the world, with a CAGR of +86.1% from 2012-2021. France and Germany experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.1%) and the UK (-4.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States and Malawi increased by +9.6 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported personal spectacle optics into Puerto Rico, comprising 26% of global imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 8.5% share of global imports. It was followed by Italy, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States stood at +4.9%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+9.9% per year) and Italy (+5.7% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per thousand units in 2021, standing approx. at the previous year. Over the period under review, 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 Hong Kong SAR ($X per thousand units), while Malawi ($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 Hong Kong SAR (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :