Kuwait: Travelling Wool Rug Market 2024

Travelling Wool Rug Market Size in Kuwait

The Kuwaiti travelling wool rug market contracted to $X in 2022, which is down by -7.1% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Travelling Wool Rug Production in Kuwait

In value terms, travelling wool rug production dropped to $X in 2022 estimated in export price. In general, production, however, continues to indicate prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 121% against the previous year. Travelling wool rug production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Travelling Wool Rug Exports

Exports from Kuwait

In 2022, after two years of decline, there was significant growth in overseas shipments of blankets and travelling rugs of wool, when their volume increased by 36% to X units. In general, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by 331% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, travelling wool rug exports surged to $X in 2022. Overall, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of 249%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Iraq (X units), Saudi Arabia (X units) and the United Arab Emirates (X units) were the main destinations of travelling wool rug exports from Kuwait, with a combined 89% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +8.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Iraq ($X) constituted the largest markets for travelling wool rug exported from Kuwait worldwide, together accounting for 87% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of -6.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average travelling wool rug export price stood at $X per unit in 2022, stabilizing at the previous year. Over the period under review, the export price enjoyed a slight increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 80% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

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 the United Arab Emirates ($X per unit), while the average price for exports to Iraq ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Travelling Wool Rug Imports

Imports into Kuwait

In 2022, the amount of blankets and travelling rugs of wool imported into Kuwait soared to X units, jumping by 80% on the year before. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 293%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, travelling wool rug imports expanded rapidly to $X in 2022. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 193% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X units), Pakistan (X units) and Turkey (X units) were the main suppliers of travelling wool rug imports to Kuwait, with a combined 65% share of total imports. China, Vietnam, India, Bulgaria and South Korea lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +94.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of blankets and travelling rugs of wool to Kuwait, comprising 15% of total imports. The second position in the ranking was held by Turkey ($X), with a 4.5% share of total imports. It was followed by China, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+11.0% per year) and China (+0.8% per year).

Import Prices by Country

The average travelling wool rug import price stood at $X per unit in 2022, shrinking by -38.9% against the previous year. In general, the import price, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 an increase of 177% against the previous year. As a result, import price reached the peak level of $X per unit, and then dropped notably in the following year.

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 Bulgaria ($X per unit), while the price for Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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