Bahrain: Festive Articles Market 2024

Festive Articles Market Size in Bahrain

The Bahraini festive articles market surged to $X in 2022, increasing by 28% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate strong growth. Festive articles consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Festive Articles Exports

Exports from Bahrain

In 2022, shipments abroad of festive or carnival articles increased by 64% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 835% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, festive articles exports soared to $X in 2022. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 585% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Saudi Arabia (X tons) was the main destination for festive articles exports from Bahrain, with a 63% share of total exports. Moreover, festive articles exports to Saudi Arabia exceeded the volume sent to the second major destination, Qatar (X tons), fivefold. The third position in this ranking was taken by the United Arab Emirates (X kg), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to +51.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+34.1% per year) and the United Arab Emirates (+24.5% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for festive or carnival articles exports from Bahrain, comprising 74% of total exports. The second position in the ranking was taken by Qatar ($X), with a 4.6% share of total exports. It was followed by Greece, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia stood at +60.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+34.7% per year) and Greece (0.0% per year).

Export Prices by Country

The average festive articles export price stood at $X per ton in 2022, rising by 11% against the previous year. In general, the export price enjoyed perceptible growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 129%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Festive Articles Imports

Imports into Bahrain

In 2022, the amount of festive or carnival articles imported into Bahrain surged to X tons, rising by 29% compared with the previous year's figure. Over the period under review, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 58% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, festive articles imports surged to $X in 2022. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 87%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest festive articles supplier to Bahrain, accounting for a 71% share of total imports. Moreover, festive articles imports from China exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), sixfold. India (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+31.6% per year) and India (+33.8% per year).

In value terms, China ($X) constituted the largest supplier of festive or carnival articles to Bahrain, comprising 75% of total imports. The second position in the ranking was taken by India ($X), with an 8% share of total imports. It was followed by Saudi Arabia, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+33.2% per year) and Saudi Arabia (+22.9% per year).

Import Prices by Country

In 2022, the average festive articles import price amounted to $X per ton, reducing by -1.5% against the previous year. Overall, the import price recorded a perceptible setback. The pace of growth was the most pronounced in 2015 when the average import price increased by 37%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform