GCC: Travelling Wool Rug Market 2023

Travelling Wool Rug Market Size in GCC

The GCC travelling wool rug market expanded remarkably to $X in 2022, surging by 8.1% against the previous year. In general, consumption, however, saw a drastic downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Travelling Wool Rug Production in GCC

In value terms, travelling wool rug production contracted to $X in 2022 estimated in export price. In general, production showed a perceptible contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 50%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Travelling Wool Rug Exports

Exports in GCC

In 2022, shipments abroad of blankets and travelling rugs of wool was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, saw a sharp downturn. The growth pace was the most rapid in 2017 with an increase of 299% against the previous year. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, travelling wool rug exports surged to $X in 2022. Over the period under review, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 231% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X units), together recording 98% of total export.

The United Arab Emirates was also the fastest-growing in terms of the blankets and travelling rugs of wool exports, with a CAGR of -20.2% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest travelling wool rug supplier in GCC.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at -17.3%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, growing by 35% against the previous year. In general, the export price saw a measured expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +3.7% per year.

Travelling Wool Rug Imports

Imports in GCC

In 2022, overseas purchases of blankets and travelling rugs of wool were finally on the rise to reach X units after eight years of decline. Overall, imports, however, saw a drastic downturn. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, travelling wool rug imports reached $X in 2022. Over the period under review, imports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 23%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Oman represented the main importing country with an import of around X units, which recorded 70% of total imports. The United Arab Emirates (X units) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (10%) and Bahrain (5.8%). Kuwait (X units) held a minor share of total imports.

Imports into Oman decreased at an average annual rate of -18.0% from 2012 to 2022. Kuwait and the United Arab Emirates experienced a relatively flat trend pattern. Qatar (-8.9%) and Bahrain (-10.2%) illustrated a downward trend over the same period. The United Arab Emirates (+8.9 p.p.), Qatar (+5.6 p.p.), Bahrain (+2.8 p.p.) and Kuwait (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Oman saw its share reduced by -19.9% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X), Oman ($X) and Qatar ($X) were the countries with the highest levels of imports in 2022, together accounting for 88% of total imports. Kuwait and Bahrain lagged somewhat behind, together comprising a further 12%.

Kuwait, with a CAGR of +7.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, reducing by -17% against the previous year. Overall, the import price, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 when the import price increased by 62% against the previous year. As a result, import price attained the peak level of $X per unit, and then shrank sharply in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :