Bahrain: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Bahrain

In 2022, the Bahraini plastic ornamental articles market increased by 9.8% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, saw buoyant growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Ornamental Articles Exports

Exports from Bahrain

In 2022, shipments abroad of statuettes and other ornamental articles of plastic increased by 91% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports saw a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 890% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, plastic ornamental articles exports skyrocketed to $X in 2022. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 881%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Saudi Arabia (X tons), the United States (X tons) and the UK (X tons) were the main destinations of plastic ornamental articles exports from Bahrain, with a combined 97% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +129.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for statuettes and other ornamental articles of plastic exports from Bahrain, comprising 89% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 8.1% share of total exports. It was followed by the UK, with a 2.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +83.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+105.3% per year) and the UK (+55.1% per year).

Export Prices by Country

In 2022, the average plastic ornamental articles export price amounted to $X per ton, jumping by 34% against the previous year. In general, the export price saw a significant expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 123% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Egypt ($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 the United States (+34.3%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Ornamental Articles Imports

Imports into Bahrain

In 2022, imports of statuettes and other ornamental articles of plastic into Bahrain declined notably to X tons, dropping by -15.8% compared with 2021. Over the period under review, imports, however, posted a perceptible increase. The pace of growth appeared the most rapid in 2016 with an increase of 44%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, plastic ornamental articles imports skyrocketed to $X in 2022. In general, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 42%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest plastic ornamental articles supplier to Bahrain, with a 79% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), tenfold. Vietnam (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+70.3% per year) and Vietnam (+13.7% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Bahrain, comprising 67% of total imports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total imports. It was followed by Turkey, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+19.5% per year) and Turkey (+45.1% per year).

Import Prices by Country

The average plastic ornamental articles import price stood at $X per ton in 2022, with an increase of 63% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles import price increased by +101.6% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform