Kuwait: Radio Receiver Market 2023

Radio Receiver Market Size in Kuwait

The Kuwaiti radio receiver market surged to $X in 2021, with an increase of 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a pronounced decline. Radio receiver consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Radio Receiver Exports

Exports from Kuwait

In 2021, overseas shipments of radio receivers decreased by -21.9% to X units, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 100% against the previous year. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, radio receiver exports dropped modestly to $X in 2021. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 162%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X units), the United Arab Emirates (X units) and Saudi Arabia (X units) were the main destinations of radio receiver exports from Kuwait, together comprising 89% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +29.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for radio receivers exports from Kuwait, comprising 53% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total exports. It was followed by Ghana, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled -6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+20.5% per year) and Ghana (+39.3% per year).

Export Prices by Country

In 2021, the average radio receiver export price amounted to $X per unit, rising by 27% against the previous year. Over the period under review, the export price, however, showed a slight decrease. The growth pace was the most rapid in 2020 an increase of 72%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Germany ($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 (+112.9%), while the prices for the other major destinations experienced more modest paces of growth.

Radio Receiver Imports

Imports into Kuwait

In 2021, approx. X units of radio receivers were imported into Kuwait; jumping by 40% against 2020. Overall, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, radio receiver imports stood at $X in 2021. Over the period under review, imports, however, showed a abrupt slump. The growth pace was the most rapid in 2019 with an increase of 43%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of radio receiver to Kuwait, with a 49% share of total imports. Moreover, radio receiver imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), threefold. South Korea (X units) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-2.0% per year) and South Korea (+20.2% per year).

In value terms, China ($X), the United Arab Emirates ($X) and Indonesia ($X) constituted the largest radio receiver suppliers to Kuwait, together comprising 64% of total imports. Saudi Arabia, South Korea, Malaysia, Spain, Hong Kong SAR, Singapore and Denmark lagged somewhat behind, together accounting for a further 19%.

Spain, with a CAGR of +22.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average radio receiver import price amounted to $X per unit, which is down by -19.1% against the previous year. Overall, the import price saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 36%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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