Kuwait: Spectacle Frame Market 2022

Spectacle Frame Market Size in Kuwait

In 2021, the Kuwaiti spectacle frame market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a noticeable contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Spectacle Frame Exports

Exports from Kuwait

In 2021, the amount of frames and mountings for spectacles, goggles or the like exported from Kuwait contracted sharply to X units, shrinking by -X% on the year before. Over the period under review, exports showed a abrupt setback. The growth pace was the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, spectacle frame exports contracted notably to $X in 2021. In general, exports saw a perceptible downturn. The growth pace was the most rapid in 2016 when exports increased by X%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X units) was the main destination for spectacle frame exports from Kuwait, with a X% share of total exports. Moreover, spectacle frame exports to Italy exceeded the volume sent to the second major destination, the United Arab Emirates (X units), twofold. Spain (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Italy amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-X% per year) and Spain (-X% per year).

In value terms, Italy ($X) remains the key foreign market for spectacle frame exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with an X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Italy totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+X% per year) and the United Arab Emirates (-X% per year).

Export Prices by Country

In 2021, the average spectacle frame export price amounted to $X per unit, with an increase of X% against the previous year. Overall, the export price saw a perceptible expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Spectacle Frame Imports

Imports into Kuwait

In 2021, purchases abroad of frames and mountings for spectacles, goggles or the like was finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, recorded a perceptible setback. Imports peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, spectacle frame imports surged to $X in 2021. In general, imports, however, recorded a noticeable downturn. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X units) constituted the largest spectacle frame supplier to Kuwait, with a X% share of total imports. Moreover, spectacle frame imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X units), sixfold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+X% per year) and China (-X% per year).

In value terms, Italy ($X) constituted the largest supplier of spectacle frame to Kuwait, comprising X% of total imports. The second position in the ranking was taken by Austria ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+X% per year) and the UK (+X% per year).

Import Prices by Country

The average spectacle frame import price stood at $X per unit in 2021, stabilizing at the previous year. Over the last nine years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably countryorigin: the country with the highest price was Austria ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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