Price for Knitted or Crocheted Pile Fabrics in Kuwait - 2022

Contents:

1. Price for Knitted or Crocheted Pile Fabrics in Kuwait (CIF) - 2022
2. Price for Knitted or Crocheted Pile Fabrics in Kuwait (FOB) - 2022
3. Imports of Knitted or Crocheted Pile Fabrics in Kuwait
4. Exports of Knitted or Crocheted Pile Fabrics in Kuwait

Price for Knitted or Crocheted Pile Fabrics in Kuwait (CIF) - 2022

In 2022, the average import price for knitted or crocheted pile fabricses amounted to $7,636 per ton, jumping by 92% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, knitted or crocheted pile fabrics import price increased by +110.5% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($13,638 per ton), while the price for the United Arab Emirates ($1,684 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+32.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Knitted or Crocheted Pile Fabrics in Kuwait (FOB) - 2022

In 2022, the average export price for knitted or crocheted pile fabricses amounted to $2,819 per ton, with a decrease of -43.6% against the previous year. Overall, the export price faced a abrupt descent. The most prominent rate of growth was recorded in 2015 when the average export price increased by 148%. The export price peaked at $8,784 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Iraq ($9,083 per ton), while the average price for exports to Bahrain ($744 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (-2.0%), while the prices for the other major destinations experienced a decline.

Imports of Knitted or Crocheted Pile Fabrics in Kuwait

Knitted or crocheted pile fabrics imports into Kuwait shrank markedly to 912 tons in 2022, waning by -66.2% against 2021. Overall, imports recorded a deep reduction. The growth pace was the most rapid in 2021 with an increase of 85% against the previous year. As a result, imports reached the peak of 2.7K tons, and then reduced notably in the following year.

In value terms, knitted or crocheted pile fabrics imports declined rapidly to $7M in 2022. Over the period under review, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 88% against the previous year. As a result, imports attained the peak of $11M, and then shrank dramatically in the following year.

Top Suppliers of Knitted or Crocheted Pile Fabrics to Kuwait in 2022:

1. China (517.5 tons)
2. United Arab Emirates (135.2 tons)
3. Saudi Arabia (62.5 tons)
4. Turkey (55.7 tons)
5. South Korea (37.2 tons)
6. Pakistan (35.8 tons)
7. Syrian Arab Republic (17.0 tons)
8. India (11.1 tons)
9. Egypt (1.6 tons)

Exports of Knitted or Crocheted Pile Fabrics in Kuwait

For the fourth year in a row, Kuwait recorded growth in shipments abroad of knitted or crocheted pile fabricses, which increased by 45% to 8.5 tons in 2022. Overall, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of 61% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, knitted or crocheted pile fabrics exports dropped notably to $24K in 2022. In general, exports enjoyed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 57% against the previous year. As a result, the exports attained the peak of $29K, and then dropped rapidly in the following year.

Top Export Markets for Knitted or Crocheted Pile Fabrics from Kuwait in 2022:

1. Saudi Arabia (3.7 tons)
2. Qatar (1.9 tons)
3. Lebanon (1.7 tons)
4. Bahrain (0.4 tons)
5. Turkey (0.4 tons)
6. United Arab Emirates (0.3 tons)
7. Iraq (0.2 tons)

Source: IndexBox Market Intelligence Platform