GCC: Sunglasses Market 2024

Sunglasses Market Size in GCC

In 2023, after five years of growth, there was decline in the GCC sunglasses market, when its value decreased by X% to $X. The total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2022, and then dropped slightly in the following year.

Sunglasses Production in GCC

In value terms, sunglasses production amounted to $X in 2023 estimated in export price. Over the period under review, production recorded a notable increase. The growth pace was the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2021; afterwards, it flattened through to 2023.

Sunglasses Exports

Exports in GCC

After four years of decline, overseas shipments of sunglasses increased by X% to X units in 2023. Overall, exports, however, continue to indicate a perceptible shrinkage. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2023, the growth of the exports failed to regain momentum.

In value terms, sunglasses exports soared to $X in 2023. Over the period under review, exports enjoyed a perceptible expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the major exporter of sunglasses in GCC, with the volume of exports resulting at X units, which was near X% of total exports in 2023. Bahrain (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Oman (X%) and Saudi Arabia (X%). Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to sunglasses exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. Bahrain experienced a relatively flat trend pattern. By contrast, Kuwait (X%) illustrated a downward trend over the same period. Bahrain (X p.p.), Oman (X p.p.) and Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest sunglasses supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Bahrain (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2023, increasing by X% against the previous year. In general, the export price showed strong growth. The pace of growth was the most pronounced in 2016 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2023 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Sunglasses Imports

Imports in GCC

In 2023, purchases abroad of sunglasses decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, imports showed a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, sunglasses imports reached $X in 2023. Over the period under review, imports saw a slight reduction. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the main importer of sunglasses in GCC, with the volume of imports accounting for X units, which was near X% of total imports in 2023. It was distantly followed by Qatar (X units), mixing up a X% share of total imports. Kuwait (X units) and Bahrain (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2023. At the same time, Qatar (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Kuwait (X%) illustrated a downward trend over the same period. While the share of Qatar (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sunglasses in GCC, comprising X% of total imports. The second position in the ranking was taken by Qatar ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Qatar (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price saw a buoyant expansion. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform