US: Exports of Sunglasses Drop in Q1 2003

After the extraordinary results in 2002, US exports of sunglasses went into a downspin during the first quarter of 2003. According to the figures of the US Department of Commerce, the volume of exports dropped by 57.8% to 4.8 million pairs. Despite the fact that, compared to one year ago, the average cost has risen from 3.65 dollars to 6.30 dollars a pair, exports dropped 27.1% in value, to 30.1 million dollars.

Canada, the leading market for American sunglasses, now absorbs only 35.5% of the total volume, against 62.2% a year ago. Despite the drop in volume, however, Canada has replaced France as the leading market in terms of value, arriving at 32.4% of the market against 19.8% last year.

Instead, imports have started to grow, following a slowdown in 2002. During the first quarter of 2003, the US imported 119.8 million pairs of sunglasses, up 12.4% compared to the same period last year. The average price rose from 1.40 to 1.55 dollars, for a value increase of 24.5% (185.9 million dollars). Most sunglasses are imported from China, whose products account for 81% of the market in terms of volume and 43.6% in terms of value.