GCC: Leather Market 2024

Leather Market Size in GCC

The GCC leather market contracted to $X in 2022, waning by X% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Leather Production in GCC

In value terms, leather production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Leather Exports

Exports in GCC

In 2022, overseas shipments of leather increased by X% to X square meters, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of export peaked at X square meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, leather exports amounted to $X in 2022. Overall, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the main exporting country with an export of around X square meters, which finished at X% of total exports. It was distantly followed by the United Arab Emirates (X square meters), committing a X% share of total exports. The following exporters - Oman (X square meters) and Kuwait (X square meters) - each recorded a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to leather exports from Saudi Arabia stood at X%. At the same time, Oman (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest leather supplier in GCC, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per square meter, rising by X% against the previous year. In general, the export price, however, showed a abrupt decline. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The level of export peaked at $X per square meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per square meter), while Oman ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the export price figures.

Leather Imports

Imports in GCC

In 2022, the amount of leather imported in GCC contracted remarkably to X square meters, with a decrease of X% on 2021 figures. Over the period under review, imports saw a pronounced decrease. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports attained the peak of X square meters. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, leather imports rose significantly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, accounting for X square meters, which was near X% of total imports in 2022. Oman (X square meters) took the second position in the ranking, followed by Saudi Arabia (X square meters). All these countries together held approx. X% share of total imports. Kuwait (X square meters) held a minor share of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of leather. Oman (X%), Saudi Arabia (X%) and Kuwait (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kuwait (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported leather in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per square meter, surging by X% against the previous year. Import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, leather import price increased by X% against 2018 indices. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Saudi Arabia ($X per square meter) and Oman ($X per square meter), while Kuwait ($X per square meter) and the United Arab Emirates ($X per square meter) were amongst the lowest.

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

Source: IndexBox Platform

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