Bahrain: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Bahrain

The Bahraini market for iron or steel wire products skyrocketed to $X in 2022, picking up by X% 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). In general, consumption, however, showed a buoyant expansion. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Exports of Iron or Steel Wire Products

Exports from Bahrain

Iron or steel wire product exports from Bahrain dropped notably to X tons in 2022, which is down by X% compared with the year before. Over the period under review, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, iron or steel wire product exports shrank dramatically to $X in 2022. Overall, exports, however, posted a moderate increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then declined notably in the following year.

Exports by Country

Saudi Arabia (X tons) was the main destination for iron or steel wire product exports from Bahrain, accounting for a X% share of total exports. Moreover, iron or steel wire product exports to Saudi Arabia exceeded the volume sent to the second major destination, Jordan (X tons), more than tenfold. Qatar (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (X% per year) and Qatar (X% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for iron or steel wire products exports from Bahrain, comprising X% of total exports. The second position in the ranking was taken by Jordan ($X), with a X% share of total exports. It was followed by Qatar, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (X% per year) and Qatar (X% per year).

Export Prices by Country

In 2022, the average export price for iron or steel wire products amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price recorded a noticeable contraction. The pace of growth was the most pronounced in 2015 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Saudi Arabia ($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 Jordan (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Wire Products

Imports into Bahrain

In 2022, after two years of growth, there was significant decline in overseas purchases of iron or steel wire products, when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed strong growth. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank dramatically in the following year.

In value terms, iron or steel wire product imports dropped to $X in 2022. Overall, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2016 with an increase of X%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons), China (X tons) and Free Zones (X tons) were the main suppliers of iron or steel wire product imports to Bahrain, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Free Zones ($X) and Saudi Arabia ($X) were the largest iron or steel wire product suppliers to Bahrain, together accounting for X% of total imports.

In terms of the main suppliers, Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for iron or steel wire products stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform