Kuwait: Silk Fabric Market 2022

Silk Fabric Market Size in Kuwait

In 2021, the Kuwaiti silk fabric market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a drastic downturn. Silk fabric consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Silk Fabric Exports

Exports from Kuwait

Silk fabric exports from Kuwait surged to X square meters in 2021, increasing by X% on 2020 figures. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports reached the peak of X square meters. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, silk fabric exports soared to $X in 2021. Over the period under review, exports saw a pronounced curtailment. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X square meters) was the main destination for silk fabric exports from Kuwait, accounting for a X% share of total exports. Moreover, silk fabric exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X square meters), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled +X%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for silk fabric exports from Kuwait, comprising X% of total exports. The second position in the ranking was occupied by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at -X%.

Export Prices by Country

In 2021, the average silk fabric export price amounted to $X per square meter, rising by X% against the previous year. Over the period under review, the export price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2015 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United Arab Emirates ($X per square meter), while the average price for exports to Saudi Arabia totaled $X per square meter.

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

Silk Fabric Imports

Imports into Kuwait

In 2021, the amount of woven fabrics of silk or of silk waste imported into Kuwait soared to X square meters, jumping by X% on the previous year's figure. Overall, imports, however, saw a deep downturn. Over the period under review, imports hit record highs at X square meters in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, silk fabric imports soared to $X in 2021. In general, imports, however, faced a deep downturn. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X square meters), India (X square meters) and South Korea (X square meters) were the main suppliers of silk fabric imports to Kuwait, together accounting for X% of total imports. Italy, Japan, Indonesia and France lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Indonesia (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Italy ($X) and China ($X) constituted the largest silk fabric suppliers to Kuwait, with a combined X% share of total imports. These countries were followed by South Korea, France, Japan and Indonesia, which together accounted for a further X, with a CAGR of +X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average silk fabric import price stood at $X per square meter in 2021, dropping by -X% against the previous year. In general, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per square meter in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform