In 2023, re-imports of lamps and lighting fittings to the UK stood at a previous high before declining significantly in the following forecast years. The data for 2024 indicates a peak in value at 743.94 thousand USD, sharply decreasing by 15.89% year-on-year to 395.98 thousand USD in 2027. By 2028, the forecast reflects a further decline to 284.6 thousand USD, highlighting a compound annual growth rate (CAGR) of -23.9% over the five-year period. This trend suggests a consistent downward movement in re-import values.
Future trends to watch for include:
- Exchange rate fluctuations affecting re-import costs.
- Potential impact of changing consumer preferences towards energy-efficient and smart lighting technologies.
- Trade policy shifts post-Brexit that may encourage local production or alter import dynamics.