MENA: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in MENA

In 2023, the MENA's direction finding compass market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Direction Finding Compass Production in MENA

In value terms, direction finding compass production contracted slightly to $X in 2023 estimated in export price. Overall, production recorded a mild decrease. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Direction Finding Compass Exports

Exports in MENA

In 2023, direction finding compass exports in MENA rose sharply to X units, with an increase of X% against the year before. Overall, exports, however, saw a pronounced decline. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, direction finding compass exports surged to $X in 2023. In general, exports showed a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the main exporting country with an export of around X units, which finished at X% of total exports. It was distantly followed by Turkey (X units), Israel (X units) and Bahrain (X units), together comprising a X% share of total exports. Jordan (X units), Algeria (X units) and Lebanon (X units) took a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to direction finding compass exports from the United Arab Emirates stood at X%. At the same time, Bahrain (X%), Lebanon (X%), Jordan (X%), Israel (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. By contrast, Algeria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Israel, Turkey, Bahrain, Jordan and Lebanon increased by X, X, X, X and X percentage points, respectively.

In value terms, Turkey ($X) remains the largest direction finding compass supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Israel ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey stood at X%. In the other countries, the average annual rates were as follows: Israel (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2023, picking up by X% against the previous year. Overall, the export price showed a notable increase. The growth pace was the most rapid in 2013 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

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

Direction Finding Compass Imports

Imports in MENA

In 2023, overseas purchases of direction finding compasses increased by X% to X units, rising for the third consecutive year after two years of decline. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked in 2023 and is expected to retain growth in the near future.

In value terms, direction finding compass imports surged to $X in 2023. Total imports indicated moderate 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. Based on 2023 figures, imports increased by X% against 2021 indices. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Turkey (X units) and the United Arab Emirates (X units) were the largest importers of direction finding compasses in MENA, together creating X% of total imports. It was distantly followed by Israel (X units), creating an X% share of total imports. Algeria (X units) and Iran (X units) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in MENA amounted to $X per unit, surging by X% against the previous year. Overall, the import price, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2017 to 2023, the import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Algeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform