Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Kuwait - 2022

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Kuwait (CIF) - 2022

In 2022, the average import price for cycles; parts thereof, wheel rims and spokeses amounted to $3,440 per ton, leveling off at the previous year. Overall, the import price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by 42%. The import price peaked at $6,273 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($4,583 per ton), while the price for India ($2,702 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+3.9%), while the prices for the other major suppliers experienced a decline.

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Kuwait (FOB) - 2022

The average export price for cycles; parts thereof, wheel rims and spokeses stood at $2,397 per ton in 2022, flattening at the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 119%. Over the period under review, the average export prices reached the maximum at $2,504 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Egypt.

From 2013 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to +8.4% per year.

Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in Kuwait

In 2022, supplies from abroad of cycles; parts thereof, wheel rims and spokeses decreased by -9.9% to 158 tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +18.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.3% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 92%. As a result, imports attained the peak of 180 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of cycles; parts thereof, wheel rims and spokeses reduced to $544K in 2022. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 73% against the previous year.

Import of Cycles; Parts Thereof, Wheel Rims and Spokes in Kuwait (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	174	298	419	381	29.9%
Japan	12.4	25.6	35.9	54.4	63.7%
Germany	9.0	32.7	19.7	35.6	58.1%
United States	11.4	34.1	15.9	29.4	37.1%
Spain	N/A	N/A	4.7	22.5	378.7%
Thailand	7.4	9.8	14.5	6.6	-3.7%
Iran	29.9	N/A	N/A	N/A	0%
Others	5.8	31.3	84.8	13.7	33.2%
Total	250	431	595	544	29.6%

Top Suppliers of Cycles; Parts Thereof, Wheel Rims and Spokes to Kuwait in 2022:

China (116.4 tons)
Japan (14.7 tons)
Germany (8.9 tons)
United States (6.4 tons)
Spain (5.4 tons)
Thailand (1.9 tons)

Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in Kuwait

In 2022, after two years of decline, there was decline in shipments abroad of cycles; parts thereof, wheel rims and spokeses, when their volume decreased by 0% to 68 kg. Over the period under review, exports continue to indicate a precipitous decrease. The smallest decline of 99.9% was in 2020.

In value terms, exports of cycles; parts thereof, wheel rims and spokeses stood at $163 in 2022. Overall, exports showed a dramatic setback. The smallest decline of 99.9% was in 2020.