Kuwait: Electronic Chip Market 2024

Electronic Chip Market Size in Kuwait

The Kuwaiti electronic chip market was finally on the rise to reach $X in 2023, after two years of decline. Over the period under review, consumption, however, showed a deep contraction. Electronic chip consumption peaked at $X in 2015; however, from 2016 to 2023, consumption remained at a lower figure.

Electronic Chip Exports

Exports from Kuwait

In 2023, after two years of growth, there was significant decline in overseas shipments of electronic chips, when their volume decreased by X% to X units. In general, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at X units in 2022, and then fell in the following year.

In value terms, electronic chip exports contracted to $X in 2023. Over the period under review, exports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The UK (X units) was the main destination for electronic chip exports from Kuwait, with a X% share of total exports. Moreover, electronic chip exports to the UK exceeded the volume sent to the second major destination, Singapore (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the UK amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Netherlands (X% per year).

In value terms, the largest markets for electronic chip exported from Kuwait were the UK ($X), Germany ($X) and the Netherlands ($X), with a combined X% share of total exports. Spain, Vietnam, Singapore, the United States, Malaysia, France and China lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electronic chip export price stood at $X per unit in 2023, declining by X% against the previous year. Over the period under review, the export price, however, showed a mild expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per unit in 2017; however, from 2018 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Chip Imports

Imports into Kuwait

In 2023, approx. X units of electronic chips were imported into Kuwait; which is down by X% compared with the year before. Over the period under review, imports recorded a perceptible descent. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, electronic chip imports amounted to $X in 2023. In general, imports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X units), the UK (X units) and the United States (X units) were the main suppliers of electronic chip imports to Kuwait, with a combined X% share of total imports. The Netherlands, the United Arab Emirates, Germany, Lebanon, Taiwan (Chinese), Turkey, China and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lebanon (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electronic chip suppliers to Kuwait were the United States ($X), the United Arab Emirates ($X) and Italy ($X), with a combined X% share of total imports.

Italy, 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

The average electronic chip import price stood at $X per unit in 2023, growing by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2016 to 2023, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform