Saudi Arabia: Hand Tools Market Overview 2021

Hand Tools Market Size in Saudi Arabia

In 2019, the Saudi hand tools market was finally on the rise to reach $X after three years of decline. Overall, consumption enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Hand tools consumption peaked at $X in 2015; however, from 2016 to 2019, consumption failed to regain the momentum.

Hand Tools Exports

Exports from Saudi Arabia

Hand tools exports from Saudi Arabia soared to X tonnes in 2019, with an increase of X% on 2018. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Over the period under review, exports hit record highs in 2019 and are expected to retain growth in the immediate term.

In value terms, hand tools exports rose significantly to $X in 2019. Overall, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, exports reached the peak figure in 2019 and are likely to continue growth in the near future.

Exports by Country

Egypt (X tonnes) was the main destination for hand tools exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, hand tools exports to Egypt exceeded the volume sent to the second major destination, Lebanon (X tonnes), fivefold. The third position in this ranking was occupied by Sudan (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Egypt amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+X% per year) and Sudan (+X% per year).

In value terms, the largest markets for hand tools exported from Saudi Arabia were Egypt ($X), Lebanon ($X) and Sudan ($X), with a combined X% share of total exports.

Lebanon (+X% per year) saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hand tools export price stood at $X per tonne in 2019, dropping by -X% against the previous year. In general, the export price saw a deep contraction. The pace of growth appeared the most rapid in 2012 an increase of X% y-o-y. Over the period under review, average export prices attained the maximum at $X per tonne in 2015; however, from 2016 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Sudan ($X per tonne), while the average price for exports to Egypt ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates, while the prices for the other major destinations experienced mixed trend patterns.

Hand Tools Imports

Imports into Saudi Arabia

In 2019, supplies from abroad of hand tools increased by X% to X tonnes, rising for the second year in a row after two years of decline. Overall, imports posted pronounced growth. Over the period under review, imports attained the maximum at X tonnes in 2015; however, from 2016 to 2019, imports stood at a somewhat lower figure.

In value terms, hand tools imports skyrocketed to $X in 2019. Over the period under review, total imports indicated moderate growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, China (X tonnes) constituted the largest hand tools supplier to Saudi Arabia, with a X% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tonnes), fourfold. The United Arab Emirates (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-X% per year) and the United Arab Emirates (+X% per year).

In value terms, the largest hand tools suppliers to Saudi Arabia were China ($X), the U.S. ($X) and the United Arab Emirates ($X), with a combined X% share of total imports.

Among the main suppliers, the United Arab Emirates 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

In 2019, the average hand tools import price amounted to $X per tonne, which is down by -X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per tonne. From 2018 to 2019, the growth in terms of the average import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the U.S. ($X per tonne), while the price for Brazil ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the United Arab Emirates, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hand tools in the world?

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The countries with the highest volumes of hand tools consumption in 2019 were China (577K tonnes), the U.S. (341K tonnes) and Japan (112K tonnes), with a combined 35% share of global consumption. Italy, Germany, the UK, Brazil, Russia, France, Canada, Viet Nam, South Korea and Indonesia lagged somewhat behind, together accounting for a further 25%.

What are the largest producers of hand tools in the world?

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The country with the largest volume of hand tools production was China (1.7M tonnes), comprising approx. 63% of total volume. Moreover, hand tools production in China exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (176K tonnes), tenfold. Italy (115K tonnes) ranked third in terms of total production with a 4.3% share.

What are the leading suppliers of hand tools to Saudi Arabia?

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In value terms, China ($35M), the U.S. ($21M) and the United Arab Emirates ($13M) constituted the largest hand tools suppliers to Saudi Arabia, with a combined 53% share of total imports.

What are the leading importers of hand tools from Saudi Arabia?

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In value terms, the largest markets for hand tools exported from Saudi Arabia were Egypt ($3M), Lebanon ($2.6M) and Sudan ($1.1M), with a combined 82% share of total exports.

What is the average export price for hand tools in Saudi Arabia?

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In 2019, the average hand tools export price amounted to $2,497 per tonne, reducing by -53.3% against the previous year.

What is the average import price for hand tools in Saudi Arabia?

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In 2019, the average hand tools import price amounted to $5,786 per tonne, waning by -24.6% against the previous year.