Spectacle frames and mountings market in Greece

Earlier Report Observations

Between 2018 and 2021, the Greek market for spectacle frames and mountings showed considerable volatility in volume. Starting at 1 159 thousand units in 2018, consumption rose to 1 451 thousand units in 2019 before declining to 1 049 thousand units in 2020. A strong recovery followed in 2021, lifting the market volume to 1 506 thousand units. The market value mirrored this instability, falling to 12 081 thousand USD in 2020 and then jumping to 18 037 thousand USD in 2021.

After reaching a peak of 1 882 thousand units in 2022, the market volume contracted to 1 588 thousand units in 2023 and further to 1 484 thousand units in 2024. In contrast, the market's value demonstrated resilience, growing from 16 963 thousand USD in 2023 to 17 750 thousand USD in 2024. This trend towards higher-value products aligns with a broader European shift where production within the EU surged and consumption moved towards more expensive frames. Furthermore, EU-wide regulatory changes, such as the Packaging and Packaging Waste Directive with Extended Producer Responsibility requirements, altered market conditions by imposing new packaging and recycling obligations on manufacturers and importers.

Production spectacle frames and mountings in Greece

In value, 2017-2020, K $ US

In 2020, Greece's output of spectacle frames and mountings was valued at 1 756 thousand US dollars, marking a 10.8% decrease from the previous year. Over the period from 2018 to 2020, production increased by 3%, with a compound annual growth rate of 1.0%. The highest value was recorded in 2019 at 1 969 thousand US dollars, which also saw the largest annual increase of 15.4%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, K unit

In 2020, Greece produced 109.6 thousand units of spectacle frames and mountings, representing a 12.4% decline compared to the year before. From 2018 to 2020, production grew by 8.1%, with a compound annual growth rate of 2.6%. The peak was reached in 2019 with 125.1 thousand units, accompanied by the largest annual increase of 23.4%.

Annual dynamics of production in Greece in kind, 2017-2020, K unit

Exports spectacle frames and mountings from Greece

Exports in kind, K unit

The data shows irregular changes, pointing to a volatile market environment. Exports varied significantly, with a 2.6-fold difference between the low in 2020 and the high in 2019. In 2020, Greece exported 64 thousand units of spectacle frames and mountings, reflecting a sharp year-on-year fall of 61.8%. The maximum value was recorded in 2019 at 166 thousand units, which also experienced the largest annual increase of 70.7%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, K unit

From 2017 to 2020, three key markets—Cyprus, Italy, and Hungary—collectively accounted for 69.0% of Greece's total exports in kind of spectacle frames and mountings.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

After a two-year increase, Greece's exports of spectacle frames and mountings in value terms declined. In 2020, exports stood at 2 040 thousand US dollars, which is 31.5% lower than in 2019. Over the period from 2017 to 2020, exports decreased by 16%, with a compound annual growth rate of -5.6%. The highest value was recorded in 2019 at 2 978 thousand US dollars, while the largest annual increase occurred in 2018 at 12.3%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

From 2017 to 2020, Cyprus, Italy, and South Korea were the main destinations for Greece's exports in value terms of spectacle frames and mountings. Cyprus accounted for 44.4% of exports, Italy for 31.2%, and South Korea for 3.1%, together making up 78.7% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports spectacle frames and mountings to Greece

Imports in kind, K unit

In 2020, Greece's imports of spectacle frames and mountings in kind amounted to 1 003 thousand units, corresponding to a 32.8% reduction from the previous year. Between 2017 and 2020, imports decreased by 17.8%, equating to an annualized rate of -6.3%. The maximum value was recorded in 2019 at 1 492 thousand units, which also saw the largest annual increase of 29.2%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, K unit

From 2017 to 2020, China, Italy, and Hong Kong were the principal suppliers of spectacle frames and mountings to Greece in kind. China accounted for 36.9% of imports, Italy for 31.7%, and Hong Kong for 8.1%, jointly comprising 76.7% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

Foreign supplies of spectacle frames and mountings to Greece declined for the second consecutive year. In 2020, Greece imported 12 365 thousand US dollars worth of these goods, corresponding to a sharp decline of 27.0% compared to 2019. Over the period from 2017 to 2020, imports decreased by 28%, with a compound annual growth rate of -10.4%. The highest value was recorded in 2018 at 17 243 thousand US dollars, which also experienced the largest annual increase of 0.4%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

From 2017 to 2020, Italy, China, and the Netherlands were the main suppliers of spectacle frames and mountings to Greece in value terms. Italy accounted for 57.6% of imports, China for 14.3%, and the Netherlands for 4.1%, together making up 76.0% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020