Russian Federation: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in the Russian Federation

The Russian direction finding compass market amounted to $X.4B in 2022, picking up by X% against the previous year. Over the period under review, consumption saw strong growth. Over the period under review, the market hit record highs at $X.3B in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Direction Finding Compass Production in the Russian Federation

In value terms, direction finding compass production expanded remarkably to $X.9B in 2022 estimated in export price. Overall, production posted a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Direction finding compass production peaked at $X.7B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Direction Finding Compass Exports

Exports from the Russian Federation

For the third consecutive year, Russia recorded decline in overseas shipments of direction finding compasses, which decreased by X% to X units in 2022. In general, exports, however, saw a notable increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, direction finding compass exports reduced sharply to $X in 2022. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X units) was the main destination for direction finding compass exports from Russia, accounting for a X% share of total exports. Moreover, direction finding compass exports to Kazakhstan exceeded the volume sent to the second major destination, Denmark (X units), fourfold. The Netherlands (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Kazakhstan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and the Netherlands (X% per year).

In value terms, the largest markets for direction finding compass exported from Russia were Denmark ($X), the Netherlands ($X) and Kazakhstan ($X), together accounting for X% of total exports.

In terms of the main countries of destination, Kazakhstan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average direction finding compass export price amounted to $X per unit, with a decrease of X% against the previous year. Overall, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Kazakhstan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced mixed trend patterns.

Direction Finding Compass Imports

Imports into the Russian Federation

After two years of growth, supplies from abroad of direction finding compasses decreased by X% to X units in 2022. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, direction finding compass imports dropped notably to $X in 2022. Over the period under review, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of direction finding compass to Russia, with a X% share of total imports. Moreover, direction finding compass imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold. Finland (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Finland (X% per year).

In value terms, China ($X) constituted the largest supplier of direction finding compasses to Russia, comprising X% of total imports. The second position in the ranking was held by Finland ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2022, the average direction finding compass import price amounted to $X per unit, falling by X% against the previous year. Overall, the import price, however, saw resilient growth. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Armenia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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