Sri Lanka: Spectacles And Goggles Market 2022

Spectacles And Goggles Market Size in Sri Lanka

The Sri Lankan spectacles and goggles market stood at $X in 2021, picking up 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, consumption continues to indicate strong growth. Spectacles and goggles consumption peaked in 2021 and is likely to see gradual growth in years to come.

Spectacles And Goggles Exports

Exports from Sri Lanka

In 2021, shipments abroad of spectacles and goggles was finally on the rise to reach X units after two years of decline. Over the period under review, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, spectacles and goggles exports contracted dramatically to $X in 2021. Overall, exports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Solomon Islands (X units), Ethiopia (X units) and Maldives (X units) were the main destinations of spectacles and goggles exports from Sri Lanka, together comprising X% of total exports. Kenya, Haiti and Papua New Guinea lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Kenya (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X), Solomon Islands ($X) and Ethiopia ($X) were the largest markets for spectacles and goggles exported from Sri Lanka worldwide, together comprising X% of total exports. Kenya, Haiti and Papua New Guinea lagged somewhat behind, together accounting for a further X terms of the main countries of destination, Kenya, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average spectacles and goggles export price amounted to $X per unit, reducing by -X% against the previous year. In general, the export price showed a deep reduction. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Maldives ($X per unit), while the average price for exports to Solomon Islands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (+X%), while the prices for the other major destinations experienced a decline.

Spectacles And Goggles Imports

Imports into Sri Lanka

In 2021, approx. X units of spectacles and goggles were imported into Sri Lanka; increasing by X% against the previous year's figure. In general, imports saw a buoyant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, spectacles and goggles imports soared to $X in 2021. Over the period under review, imports showed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest spectacles and goggles supplier to Sri Lanka, with a X% share of total imports. Moreover, spectacles and goggles imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. Hong Kong SAR (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+X% per year) and Hong Kong SAR (+X% per year).

In value terms, China ($X) constituted the largest supplier of spectacles and goggles to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+X% per year) and Taiwan (Chinese) (+X% per year).

Import Prices by Country

In 2021, the average spectacles and goggles import price amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price, however, recorded a pronounced reduction. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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