GCC: Market for Lighting Sets For Christmas Trees 2024

Market Size for Lighting Sets For Christmas Trees in GCC

The GCC market for lighting sets for christmas trees declined to $X in 2022, waning by -5.2% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +88.3% against 2016 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Production of Lighting Sets For Christmas Trees in GCC

In value terms, lighting set for christmas trees production totaled $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.8% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 26%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Lighting Sets For Christmas Trees

Exports in GCC

In 2022, overseas shipments of lighting sets for christmas trees increased by 2.1% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 91%. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, lighting set for christmas trees exports contracted to $X in 2022. In general, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2016 when exports increased by 42%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the key exporter of lighting sets for christmas trees in GCC, with the volume of exports finishing at X units, which was near 69% of total exports in 2022. Saudi Arabia (X units) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Oman (7.9%).

Exports from the United Arab Emirates decreased at an average annual rate of -14.0% from 2012 to 2022. At the same time, Saudi Arabia (+15.0%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +15.0% from 2012-2022. By contrast, Oman (-1.6%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+20 p.p.) and Oman (+5.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-26.5 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest lighting set for christmas trees supplier in GCC, comprising 66% of total exports. The second position in the ranking was taken by Oman ($X), with a 19% share of total exports.

In the United Arab Emirates, lighting set for christmas trees exports contracted by an average annual rate of -12.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (-0.3% per year) and Saudi Arabia (+4.3% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, with a decrease of -9.7% against the previous year. Export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lighting set for christmas trees export price increased by +84.1% against 2017 indices. The growth pace was the most rapid in 2019 an increase of 78% against the previous year. The level of export peaked at $X per unit in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per unit), while Saudi Arabia ($X per unit) 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 (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Lighting Sets For Christmas Trees

Imports in GCC

Lighting set for christmas trees imports fell rapidly to X units in 2022, which is down by -32.8% against the previous year's figure. Over the period under review, imports showed a noticeable setback. The pace of growth was the most pronounced in 2021 with an increase of 248% against the previous year. The volume of import peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, lighting set for christmas trees imports fell dramatically to $X in 2022. In general, imports, however, posted buoyant growth. The pace of growth was the most pronounced in 2021 when imports increased by 369% against the previous year. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, reaching X units, which was approx. 84% of total imports in 2022. It was distantly followed by Qatar (X units) and Oman (X units), together comprising an 11% share of total imports. Kuwait (X units) and Bahrain (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +2.5% from 2012 to 2022. At the same time, Qatar (+35.3%) and Bahrain (+2.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +35.3% from 2012-2022. By contrast, Oman (-7.8%) and Kuwait (-23.8%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+30 p.p.) and Qatar (+5.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (-4.1 p.p.) and Kuwait (-32.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Qatar ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 79% of total imports.

Qatar, with a CAGR of +25.4%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, picking up by 16% against the previous year. Overall, the import price saw a strong expansion. The most prominent rate of growth was recorded in 2018 an increase of 68% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while Oman ($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 (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform