GCC: Braces And Garters Market 2024

Braces And Garters Market Size in GCC

The GCC braces and garters market declined modestly to $X in 2022, waning by -1.9% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Braces And Garters Production in GCC

In value terms, braces and garters production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 43%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Braces And Garters Exports

Exports in GCC

Braces and garters exports reduced markedly to X units in 2022, falling by -46.9% against the previous year's figure. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 157% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, braces and garters exports contracted sharply to $X in 2022. Over the period under review, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 145%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) and Bahrain (X units) dominates exports structure, together making up 91% of total exports. It was distantly followed by Oman (X units), achieving an 8.9% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Oman (with a CAGR of +83.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Bahrain ($X) and Oman ($X) constituted the countries with the highest levels of exports in 2022, together comprising 99% of total exports.

Oman, with a CAGR of +57.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, growing by 20% against the previous year. Overall, the export price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 an increase of 38%. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+13.0%), while the other leaders experienced a decline in the export price figures.

Braces And Garters Imports

Imports in GCC

In 2022, approx. X units of braces, suspenders and garters were imported in GCC; which is down by -5.5% compared with 2021 figures. Over the period under review, imports showed a perceptible slump. The growth pace was the most rapid in 2021 with an increase of 56%. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, braces and garters imports shrank dramatically to $X in 2022. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 139% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the major importer of braces, suspenders and garters, constituting 56% of total imports. Bahrain (X units) held the second position in the ranking, distantly followed by Kuwait (X units) and Oman (X units). All these countries together took approx. 43% share of total imports. Qatar (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to braces and garters imports into the United Arab Emirates stood at -3.6%. At the same time, Qatar (+54.9%), Bahrain (+15.0%) and Oman (+9.0%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +54.9% from 2012-2022. By contrast, Kuwait (-12.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bahrain, Oman and Qatar increased by +17, +6.5 and +1.8 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported braces, suspenders and garters in GCC, comprising 68% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 19% share of total imports. It was followed by Bahrain, with a 7% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled -5.5%. In the other countries, the average annual rates were as follows: Kuwait (-8.0% per year) and Bahrain (+12.2% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, waning by -17.5% against the previous year. In general, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 255%. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+5.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform