Saudi Arabia: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in Saudi Arabia

The Saudi metal domestic furniture market soared to $X in 2023, with an increase of X% against the previous year. Overall, consumption, however, recorded a pronounced decline. Metal domestic furniture consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Metal Domestic Furniture Production in Saudi Arabia

In value terms, metal domestic furniture production totaled $X in 2023 estimated in export price. In general, production recorded a mild expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2023, production remained at a lower figure.

Metal Domestic Furniture Exports

Exports from Saudi Arabia

In 2023, approx. X tons of metal furniture were exported from Saudi Arabia; increasing by X% on the previous year's figure. Overall, exports posted a slight expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, metal domestic furniture exports surged to $X in 2023. Over the period under review, total exports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Togo (X tons), Egypt (X tons) and Portugal (X tons) were the main destinations of metal domestic furniture exports from Saudi Arabia, together comprising X% of total exports. Australia, the UK, the United States and Switzerland lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Switzerland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

It was followed by Australia, with an X% share.

From 2012 to 2023, the average annual growth rate of value to Egypt totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Australia (X% per year).

Export Prices by Country

In 2023, the average metal domestic furniture export price amounted to $X per ton, waning by X% against the previous year. In general, export price indicated a slight increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, metal domestic furniture export price increased by X% against 2018 indices. The growth pace was the most rapid in 2022 an increase of X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Domestic Furniture Imports

Imports into Saudi Arabia

In 2023, overseas purchases of metal furniture decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, imports saw a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, metal domestic furniture imports amounted to $X in 2023. In general, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest metal domestic furniture supplier to Saudi Arabia, accounting for a X% share of total imports. Moreover, metal domestic furniture imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold. The third position in this ranking was taken by Turkey (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Turkey (X% per year).

In value terms, China ($X) constituted the largest supplier of metal furniture to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2023, 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: Italy (X% per year) and Turkey (X% per year).

Import Prices by Country

The average metal domestic furniture import price stood at $X per ton in 2023, remaining stable against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2023.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform