Top Export Markets for Lighting Products
If you are a lighting product manufacturer looking to expand internationally, identifying the right countries to target internationally can be difficult. This article analyzes import volumes for these products for different countries between 2012 and 2016. Based on this analysis we identify the fastest growing and largest export markets for these products to help you prioritize your international expansion strategies.
The data in this analysis is from the International Trade Centre (ITC). It is limited to the following product categories as categorized by the ITC:
Product Group 8513 (Portable electric lamps designed to function by their own source of energy)
Product Group 8539 (Electric filament or discharge lamps)
Lighting Products Imports Analysis by Region
We can see that the largest import market for these products is Europe & Central Asia (approximately US$ 6 billion in 2016). However average annual import growth between 2012 and 2016 was actually negative in this region. This means entering the market and gaining share would be quite difficult. Only South Asia and Sub-Saharan Africa had positive import growth during this period but with much lower import volume.
Targeting countries in your own region of the world first is sometimes the easiest way to start growing intentionally. We now focus on each one of these regions individually to understand what countries might be your best targets for international expansion. High import volume and high year over year import growth are two metrics you want to continue focusing on when looking at countries within a specific region.
Lighting Products Imports Analysis for East Asia & Pacific Countries
Within East Asia & Pacific, the countries with the highest volume of imports in 2016 are China, Japan, South Korea, Hong Kong, Indonesia, Taiwan and Vietnam. Vietnam also has strong import growth. In addition, the Philippines also has high growth in imports making it a great target for expansion.
Lighting Products Imports Analysis for Europe & Central Asia Countries
Within Europe & East Asia, the countries with the highest volume of imports in 2016 are Germany, France, United Kingdom, Netherlands, Poland, Italy, Belgium and Spain. All of these countries however have negative growth in imports. Countries in this region with strong import growth include Luxembourg and Iceland although they have limited import volume.
Lighting Products Imports Analysis for Latin America & Caribbean Countries
Within Latin America & Caribbean, the countries with the highest volume of imports in 2016 are Mexico, Brazil, Argentina, Chile, Peru, Colombia and Panama. Import growth in these countries however has been negative. Countries in this region with positive import growth include Bolivia, Haiti and the Bahamas although they have limited import volume.
Lighting Products Imports Analysis for Middle East & North Africa Countries
Within the Middle East & North Africa, the countries with the highest volume of imports in 2016 are Iran, Saudi Arabia, United Arab Emirates, Djibouti and Israel. Iran and Djibouti have strong growth in imports as well. In addition, Morocco, Algeria, Qatar and Yemen have had high growth in imports although limited volume.
Lighting Products Imports Analysis for North America Countries
Within North America, the countries with the highest volume of imports in 2016 are the United States and Canada. Both however have negative year over year import growth.
Lighting Products Imports Analysis for South Asia Countries
Within South Asia, the countries with the highest volume of imports in 2016 are India and Pakistan. Pakistan has had quite strong year over year growth in imports as well.
Lighting Products Imports Analysis for Sub-Saharan Africa Countries
Within Sub-Saharan Africa, the countries with the highest volume of imports in 2016 are Kenya, South Africa, Togo, Guinea, Ethiopia and Nigeria. Import growth in Kenya, Togo, Guinea and Ethiopia has been very strong as well. In addition, the Republic of Congo, Cote d'Ivoire, Gabon, Liberia, Somalia, Madagascar, the Democratic Republic of Congo, Burkina Faso, Mozambique and Tanzania have high growth in imports although limited volume.
Getting Serious About Expanding Internationally?
Analyzing data is the first step to building a strategic plan for international expansion. Once you've identified your potential target countries for expansion, you can use our online platform to find local partners in those countries. Learn more about our platform here and then signup to add your products, set your partnership terms and review partnership offers you'll start receiving from local partners.