Qatar's Imports of Nails and Bolts Surge to $21M in 2023

Qatar Nail And Bolt Imports

In 2023, nail and bolt imports into Qatar surged to 5.8K tons, rising by 16% against the year before. In general, imports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2015 with an increase of 93%. As a result, imports reached the peak of 13K tons. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, nail and bolt imports soared to $21M (IndexBox estimates) in 2023. Over the period under review, imports, however, showed a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $27M in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

Malaysia (1.6K tons), China (1.3K tons) and South Korea (1.2K tons) were the main suppliers of nail and bolt imports to Qatar, together comprising 70% of total imports.

From 2013 to 2023, the biggest increases were recorded for South Korea (with a CAGR of +45.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($7.6M) constituted the largest supplier of nails, tacks, staples, screws and bolts to Qatar, comprising 35% of total imports. The second position in the ranking was taken by Italy ($2.3M), with an 11% share of total imports. It was followed by South Korea, with an 8.4% share.

From 2013 to 2023, the average annual rate of growth in terms of value from Malaysia totaled +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.6% per year) and South Korea (+19.3% per year).

Imports by Type

In 2023, screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel (4.4K tons) constituted the largest type of nails, tacks, staples, screws and bolts supplied to Qatar, with a 75% share of total imports. Moreover, screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel exceeded the figures recorded for the second-largest type, nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (1.2K tons), fourfold. Aluminium; nails, tacks, staples (other than those of heading no. 8305) screws, bolts, nuts, screw hooks, rivets, cotters, cotter-pins, washers and similar articles (164 tons) ranked third in terms of total imports with a 2.8% share.

From 2013 to 2023, the average annual growth rate of the volume of screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel imports totaled +2.8%. With regard to the other supplied products, the following average annual rates of growth were recorded: nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (-10.0% per year) and aluminium; nails, tacks, staples (other than those of heading no. 8305) screws, bolts, nuts, screw hooks, rivets, cotters, cotter-pins, washers and similar articles (+3.3% per year).

In value terms, screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel ($19M) constituted the largest type of nails, tacks, staples, screws and bolts supplied to Qatar, comprising 89% of total imports. The second position in the ranking was taken by nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper ($1.3M), with a 5.9% share of total imports. It was followed by aluminium; nails, tacks, staples (other than those of heading no. 8305) screws, bolts, nuts, screw hooks, rivets, cotters, cotter-pins, washers and similar articles, with a 3.9% share.

Import Prices by Country

In 2023, the nail and bolt price amounted to $3,681 per ton (CIF, Qatar), surging by 26% against the previous year. Over the period under review, import price indicated perceptible growth from 2013 to 2023: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, nail and bolt import price increased by +57.9% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 50% against the previous year. The import price peaked at $4,088 per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

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 Italy ($18,257 per ton), while the price for China ($1,249 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Italy (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform