Bahrain: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Bahrain

The Bahraini iron or steel leaf-spring market plummeted to $X in 2022, which is down by -57.6% 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). Overall, consumption recorded a abrupt setback. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Bahrain

In 2022, approx. X tons of iron or steel leaf-springs and leaves were exported from Bahrain; falling by -23.3% against the year before. Overall, exports, however, showed a significant increase. The growth pace was the most rapid in 2017 with an increase of 6,418%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron or steel leaf-spring exports contracted modestly to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 4,104% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for iron or steel leaf-spring exports from Bahrain, with a 72% share of total exports. Moreover, iron or steel leaf-spring exports to Australia exceeded the volume sent to the second major destination, Sudan (X tons), fourfold. The United States (X kg) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia amounted to +60.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (+8.3% per year) and the United States (0.0% per year).

In value terms, Australia ($X) emerged as the key foreign market for iron or steel leaf-springs and leaves exports from Bahrain, comprising 72% of total exports. The second position in the ranking was held by Sudan ($X), with a 21% share of total exports. It was followed by Singapore, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value to Australia totaled +38.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (+8.5% per year) and Singapore (-16.1% per year).

Export Prices by Country

In 2022, the average iron or steel leaf-spring export price amounted to $X per ton, increasing by 24% against the previous year. In general, the export price, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2018 an increase of 168%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the United States ($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 Sudan (+0.2%), while the prices for the other major destinations experienced a decline.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Bahrain

In 2022, iron or steel leaf-spring imports into Bahrain contracted sharply to X tons, with a decrease of -62.3% on the previous year. Overall, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 216%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel leaf-spring imports dropped remarkably to $X in 2022. Over the period under review, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 51%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest iron or steel leaf-spring supplier to Bahrain, accounting for a 41% share of total imports. Moreover, iron or steel leaf-spring imports from Japan exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. China (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-1.8% per year) and China (+5.7% per year).

In value terms, Japan ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Bahrain, comprising 44% of total imports. The second position in the ranking was held by Romania ($X), with an 11% share of total imports. It was followed by India, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+15.4% per year) and India (+2.0% per year).

Import Prices by Country

The average iron or steel leaf-spring import price stood at $X per ton in 2022, picking up by 61% against the previous year. In general, the import price showed resilient growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 101%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average 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 Romania ($X per ton), while the price for Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform