Kuwait: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Kuwait

In 2022, after two years of growth, there was significant decline in the Kuwaiti plastic ornamental articles market, when its value decreased by X% to $X. Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Plastic ornamental articles consumption peaked at $X in 2021, and then reduced in the following year.

Plastic Ornamental Articles Production in Kuwait

In value terms, plastic ornamental articles production soared to $X in 2022 estimated in export price. Overall, production, however, saw a deep contraction. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plastic Ornamental Articles Exports

Exports from Kuwait

Plastic ornamental articles exports from Kuwait surged to X tons in 2022, with an increase of X% against 2021. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, plastic ornamental articles exports soared to $X in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United Arab Emirates (X tons) was the main destination for plastic ornamental articles exports from Kuwait, with a X% share of total exports. Moreover, plastic ornamental articles exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X tons), ninefold.

From 2013 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Qatar (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for statuettes and other ornamental articles of plastic exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Qatar (X% per year).

Export Prices by Country

The average plastic ornamental articles export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price enjoyed temperate growth. The pace of growth was the most pronounced in 2015 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Kuwait

In 2022, overseas purchases of statuettes and other ornamental articles of plastic decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports recorded a noticeable decrease. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, plastic ornamental articles imports stood at $X in 2022. Over the period under review, total imports indicated a prominent increase from 2013 to 2022: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest plastic ornamental articles supplier to Kuwait, with a X% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold.

From 2013 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Lebanon (X% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Kuwait, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Lebanon (X% per year).

Import Prices by Country

The average plastic ornamental articles import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price posted buoyant growth. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Lebanon ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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