MENA: Bracelet Market 2023

Bracelet Market Size in MENA

The MENA's bracelet market declined to $X in 2021, standing approx. at the previous year. Overall, consumption, however, showed a deep setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Bracelet Production in MENA

In value terms, bracelet production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a deep contraction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 2.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Bracelet Exports

Exports in MENA

For the third year in a row, MENA recorded growth in shipments abroad of watch straps, bands and bracelets, which increased by 6% to X tons in 2021. In general, exports saw a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 138% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, bracelet exports surged to $X in 2021. Overall, exports, however, continue to indicate a pronounced reduction. The growth pace was the most rapid in 2018 when exports increased by 42%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) and Turkey (X tons) represented the major exporters of watch straps, bands and bracelets in 2021, amounting to near 46% and 33% of total exports, respectively. It was distantly followed by Tunisia (X tons) and Oman (X tons), together generating a 19% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Oman (with a CAGR of +42.6%), while the other leaders experienced more modest paces of growth.

In value terms, Tunisia ($X) remains the largest bracelet supplier in MENA, comprising 80% of total exports. The second position in the ranking was taken by Turkey ($X), with a 9.4% share of total exports. It was followed by the United Arab Emirates, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Tunisia totaled -2.8%. In the other countries, the average annual rates were as follows: Turkey (+42.6% per year) and the United Arab Emirates (+18.3% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, the export price, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 156% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Tunisia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.7%), while the other leaders experienced mixed trends in the export price figures.

Bracelet Imports

Imports in MENA

In 2021, the amount of watch straps, bands and bracelets imported in MENA surged to X tons, jumping by 64% against 2020 figures. Over the period under review, imports posted strong growth. The pace of growth was the most pronounced in 2014 with an increase of 105%. The volume of import peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, bracelet imports skyrocketed to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.6% against 2014 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons) and Turkey (X tons) represented the main importers of watch straps, bands and bracelets in 2021, reaching approx. 32% and 27% of total imports, respectively. Qatar (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Israel (9%), Oman (4.7%) and Iran (4.6%). Egypt (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Qatar (with a CAGR of +39.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported watch straps, bands and bracelets in MENA, comprising 43% of total imports. The second position in the ranking was held by Turkey ($X), with a 17% share of total imports. It was followed by Israel, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +14.1%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+5.8% per year) and Israel (+5.7% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, dropping by -19.9% against the previous year. In general, the import price showed a pronounced reduction. The growth pace was the most rapid in 2015 an increase of 47% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+8.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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