Bahrain: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Bahrain

The Bahraini interchangeable spanner socket market surged to $X in 2022, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a measured expansion. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports from Bahrain

In 2022, shipments abroad of interchangeable spanner sockets decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a deep setback. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, interchangeable spanner socket exports contracted notably to $X in 2022. In general, exports, however, enjoyed pronounced growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for interchangeable spanner socket exports from Bahrain, with a X% share of total exports. Moreover, interchangeable spanner socket exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X kg), threefold. Turkey (X kg) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Turkey (X% per year).

In value terms, the largest markets for interchangeable spanner socket exported from Bahrain were Turkey ($X), Oman ($X) and Saudi Arabia ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Oman, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average interchangeable spanner socket export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price saw a strong expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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 Turkey ($X per ton), while the average price for exports to the United Arab Emirates ($X 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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Bahrain

In 2022, overseas purchases of interchangeable spanner sockets decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, enjoyed a slight increase. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, interchangeable spanner socket imports contracted significantly to $X in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. Imports peaked at $X in 2021, and then contracted notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest interchangeable spanner socket supplier to Bahrain, with a X% share of total imports. Moreover, interchangeable spanner socket imports from China exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), twofold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and the United States ($X) constituted the largest interchangeable spanner socket suppliers to Bahrain, with a combined X% share of total imports. Sweden, the UK, Germany and Pakistan lagged somewhat behind, together comprising a further X%.

Sweden, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average interchangeable spanner socket import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price continues to indicate a mild slump. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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