Kuwait: Direction Finding Compass Market 2022

Direction Finding Compass Market Size in Kuwait

The Kuwaiti direction finding compass market contracted to $X in 2021, which is down by -7% against the previous year. In general, consumption recorded a slight curtailment. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Direction Finding Compass Production in Kuwait

In value terms, direction finding compass production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 8.5% against the previous year. Direction finding compass production peaked at $X in 2019; afterwards, it flattened through to 2021.

Direction Finding Compass Exports

Exports from Kuwait

In 2021, the amount of direction finding compasses exported from Kuwait soared to X units, with an increase of 22% against the year before. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 18,905%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, direction finding compass exports skyrocketed to $X in 2021. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 21,290% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for direction finding compass exports from Kuwait, with a 94% share of total exports. Moreover, direction finding compass exports to the UK exceeded the volume sent to the second major destination, the Netherlands (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +37.6%.

In value terms, the UK ($X) remains the key foreign market for direction finding compass exports from Kuwait, comprising 99% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 0.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +32.0%.

Export Prices by Country

In 2021, the average direction finding compass export price amounted to $X per unit, with an increase of 21% against the previous year. Over the period under review, the export price enjoyed a strong expansion. The growth pace was the most rapid in 2015 an increase of 80%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to the Netherlands totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+3.7%).

Direction Finding Compass Imports

Imports into Kuwait

In 2021, approx. X units of direction finding compasses were imported into Kuwait; declining by -70% compared with the previous year. Overall, imports saw a significant curtailment. The pace of growth was the most pronounced in 2014 with an increase of 287% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, direction finding compass imports fell dramatically to $X in 2021. In general, imports saw a precipitous contraction. The growth pace was the most rapid in 2014 when imports increased by 440% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X units), the United States (X units) and China (X units) were the main suppliers of direction finding compass imports to Kuwait, with a combined 80% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +78.0%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of direction finding compass to Kuwait, comprising 83% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 5.5% share of total imports. It was followed by France, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+48.9% per year) and France (-39.8% per year).

Import Prices by Country

In 2021, the average direction finding compass import price amounted to $X per unit, jumping by 122% against the previous year. Overall, the import price showed a measured increase. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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