Saudi Arabia: Iron Household Articles Market 2024

Iron Household Articles Market Size in Saudi Arabia

In 2023, the Saudi iron household articles market decreased by X% to $X, falling for the second year in a row after three years of growth. In general, the total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Iron Household Articles Production in Saudi Arabia

In value terms, iron household articles production reached $X in 2023 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Iron Household Articles Exports

Exports from Saudi Arabia

In 2023, shipments abroad of table, kitchen or household articles and parts of iron increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Overall, exports continue to indicate a strong increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, iron household articles exports surged to $X in 2023. Over the period under review, exports posted a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) was the main destination for iron household articles exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, iron household articles exports to Nigeria exceeded the volume sent to the second major destination, Ghana (X tons), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume to Nigeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (X% per year) and Tanzania (X% per year).

From 2012 to 2023, the average annual growth rate of value to Nigeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (X% per year) and Ghana (X% per year).

Export Prices by Country

The average iron household articles export price stood at $X per ton in 2023, waning by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2022, and then declined significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Ghana ($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 Yemen (X%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Household Articles Imports

Imports into Saudi Arabia

Iron household articles imports into Saudi Arabia amounted to X tons in 2023, therefore, remained relatively stable against 2022. Overall, imports saw a deep setback. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, iron household articles imports amounted to $X in 2023. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2019 with an increase of X%. As a result, imports reached the peak of $X. From 2020 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of iron household articles to Saudi Arabia, accounting for a X% share of total imports. Moreover, iron household articles imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was held by Indonesia (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Indonesia (X% per year).

In value terms, China ($X) constituted the largest supplier of table, kitchen or household articles and parts of iron to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Indonesia (X% per year).

Import Prices by Country

The average iron household articles import price stood at $X per ton in 2023, leveling off at the previous year. In general, the import price enjoyed a tangible expansion. The growth pace was the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform