Puerto Rico: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Puerto Rico

In 2021, the Puerto Rican spectacles and goggles market was finally on the rise to reach $X after four years of decline. In general, consumption, however, saw a perceptible setback. 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 Production in Puerto Rico

In value terms, spectacles and goggles production stood at $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2013 when the production volume increased by 76% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Spectacles And Goggles Exports

Exports from Puerto Rico

In 2021, exports of spectacles and goggles from Puerto Rico amounted to less than X units, approximately mirroring the previous year's figure. Overall, exports saw a relatively flat trend pattern.

In value terms, spectacles and goggles exports stood at less than $X in 2021. Over the period under review, exports saw a relatively flat trend pattern.

Exports by Country

Taiwan (Chinese) was the main exporter of spectacles and goggles in the world, with the volume of exports accounting for X units, which was near 42% of total exports in 2021. China (X units) held the second position in the ranking, distantly followed by the United States (X units). All these countries together held near 28% share of total exports. Mexico (X units), Hong Kong SAR (X units), the Netherlands (X units), Germany (X units), Thailand (X units), France (X units), Italy (X units) and the UK (X units) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to spectacles and goggles exports from Taiwan (Chinese) stood at +1.9%. At the same time, Thailand (+14.7%) and Mexico (+13.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.7% from 2012-2021. The United States experienced a relatively flat trend pattern. By contrast, the Netherlands (-4.6%), Hong Kong SAR (-7.4%), France (-11.6%), Germany (-18.1%), China (-19.6%), Italy (-23.7%) and the UK (-23.9%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+29 p.p.), the United States (+4.3 p.p.), Mexico (+3.7 p.p.) and Thailand (+2 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the UK (-2.2 p.p.), Italy (-2.3 p.p.), Germany (-3.4 p.p.) and China (-35.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest spectacles and goggles supplier from Puerto Rico, comprising 41% of global exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9.9% share of global exports. It was followed by Hong Kong SAR, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +5.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+5.3% per year) and Hong Kong SAR (+1.7% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per thousand units, approximately equating the previous year. Over the period under review, the export price showed 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 Italy (+38.5%), while the other leaders experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports into Puerto Rico

In 2021, spectacles and goggles imports into Puerto Rico was estimated at less than X units, remaining stable against the previous year's figure. Overall, imports showed a relatively flat trend pattern.

In value terms, spectacles and goggles imports stood at less than $X in 2021. Over the period under review, imports saw a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X units) represented the main importer of spectacles and goggles, constituting 36% of total imports. It was distantly followed by Canada (X units), making up a 5.3% share of total imports. Paraguay (X units), Australia (X units), Japan (X units), Mexico (X units), Russia (X units), Brazil (X units), Thailand (X units), Hong Kong SAR (X units), El Salvador (X units), Chile (X units) and Germany (X units) took a little share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of spectacles and goggles. At the same time, Paraguay (+28.5%), Canada (+9.2%), Australia (+4.7%), Chile (+4.2%), Thailand (+3.8%) and Brazil (+1.8%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in the world, with a CAGR of +28.5% from 2012-2021. Russia and Japan experienced a relatively flat trend pattern. By contrast, Mexico (-2.2%), El Salvador (-4.1%), Hong Kong SAR (-7.0%) and Germany (-9.1%) illustrated a downward trend over the same period. The United States (+6.4 p.p.), Paraguay (+4 p.p.), Canada (+3.2 p.p.) and Australia (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while Germany saw its share reduced by -2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported spectacles and goggles into Puerto Rico, comprising 28% of global imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7.3% share of global imports. It was followed by Australia, with a 7.1% share.

In the United States, spectacles and goggles imports expanded at an average annual rate of +6.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+7.1% per year) and Australia (+4.6% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per thousand units in 2021, flattening 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 ($X per thousand units), while Paraguay ($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 (+15.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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