MENA: Travelling Wool Rug Market 2023

Travelling Wool Rug Market Size in MENA

The MENA's travelling wool rug market contracted to $X in 2022, with a decrease of -6.5% against the previous year. Over the period under review, consumption continues to indicate a noticeable descent. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Travelling Wool Rug Production in MENA

In value terms, travelling wool rug production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable setback. The growth pace was the most rapid in 2018 with an increase of 90%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Travelling Wool Rug Exports

Exports in MENA

In 2022, shipments abroad of blankets and travelling rugs of wool decreased by -6% to X units, falling for the fifth year in a row after two years of growth. Overall, exports showed a drastic downturn. The growth pace was the most rapid in 2017 when exports increased by 184%. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, travelling wool rug exports contracted rapidly to $X in 2022. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 60%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Turkey (X units) and the United Arab Emirates (X units) represented the key exporter of blankets and travelling rugs of wool in MENA, generating 96% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of +6.7%).

In value terms, Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022.

Turkey, with a CAGR of +8.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, with a decrease of -19.8% against the previous year. Overall, the export price, however, saw a resilient increase. The pace of growth appeared the most rapid in 2015 when the export price increased by 81%. The level of export peaked at $X per unit in 2021, and then shrank significantly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.7%).

Travelling Wool Rug Imports

Imports in MENA

In 2022, purchases abroad of blankets and travelling rugs of wool was finally on the rise to reach X units for the first time since 2013, thus ending a eight-year declining trend. In general, imports, however, recorded a deep setback. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, travelling wool rug imports stood at $X in 2022. Overall, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of 17%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Oman dominates imports structure, accounting for X units, which was approx. 56% of total imports in 2022. The United Arab Emirates (X units) took the second position in the ranking, followed by Qatar (X units), Yemen (X units) and Bahrain (X units). All these countries together held near 26% share of total imports. The following importers - Iraq (X units), Kuwait (X units) and Libya (X units) - together made up 8% of total imports.

Imports into Oman decreased at an average annual rate of -18.0% from 2012 to 2022. At the same time, Yemen (+14.5%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in MENA, with a CAGR of +14.5% from 2012-2022. Kuwait and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Qatar (-8.9%), Bahrain (-10.2%), Iraq (-12.1%) and Libya (-15.4%) illustrated a downward trend over the same period. The United Arab Emirates (+6.9 p.p.), Yemen (+4.8 p.p.), Qatar (+4 p.p.), Kuwait (+2.1 p.p.) and Bahrain (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Oman saw its share reduced by -26% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Oman ($X) and Qatar ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 62% of total imports. Kuwait, Yemen, Iraq, Bahrain and Libya lagged somewhat behind, together comprising a further 18%.

Among the main importing countries, Kuwait, with a CAGR of +7.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, falling by -12.2% against the previous year. In general, the import price, however, saw prominent growth. The pace of growth appeared the most rapid in 2019 an increase of 56%. The level of import peaked at $X per unit in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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