The export value of electric lamps and lighting fittings from Brazil has experienced significant fluctuations over the past decade. From 2013 to 2014, there was a considerable increase of 30.66%, reaching a peak before a sharp decline of over 16% in 2016. This downward trend continued until 2018, followed by a minor recovery in 2019 with a 2.96% increase. However, in 2020, exports again saw a major drop of 19.27%, before rebounding by 17.16% in 2021. The most recent data for 2023 shows a further decrease of 2.8%, placing the export value at $6.2392 million. The overall average growth rate (CAGR) over the last five years stands at -1.65%.
Future forecasts suggest a continuous decline, with a projected five-year CAGR of -2.59%, indicating a total decrease in export value by 12.28% by 2028. This trend underscores ongoing challenges in the market for Brazilian electric lamps and lighting fittings exports. Notably, the value of exports in 2023 is indicative of a persistent downward trend.
Trends to watch for in the future include shifts in global demand for energy-efficient lighting, changes in trade policies and tariffs, advancements in lighting technology, and Brazil's competitiveness in the global market. Additionally, economic conditions, both domestically and internationally, as well as investment in manufacturing capabilities, could significantly impact future export performance.
