GCC: Market for Machine-Tools For Working Wood 2024

Exports of Machine-Tools For Working Wood

Exports in GCC

In 2021, the amount of machine-tools for working wood exported in GCC declined significantly to X tons, which is down by -27.4% against the year before. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 83%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, machine-tool for working wood exports contracted markedly to $X in 2021. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 136% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the key exporter of machine-tools for working wood in GCC, with the volume of exports finishing at X tons, which was approx. 73% of total exports in 2021. Saudi Arabia (X tons) ranks second in terms of the total exports with a 16% share, followed by Oman (7.7%). Kuwait (X tons) held a minor share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -5.1% from 2012 to 2021. At the same time, Oman (+24.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +24.1% from 2012-2021. By contrast, Kuwait (-2.7%) and Saudi Arabia (-6.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Oman increased by +7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest machine-tool for working wood supplier in GCC, comprising 62% of total exports. The second position in the ranking was held by Oman ($X), with an 18% share of total exports. It was followed by Saudi Arabia, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Oman (+34.5% per year) and Saudi Arabia (-2.9% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, rising by 8.9% against the previous year. Export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machine-tool for working wood export price decreased by -1.6% against 2017 indices. The growth pace was the most rapid in 2014 an increase of 87% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+8.4%), while the other leaders experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports in GCC

In 2021, supplies from abroad of machine-tools for working wood increased by 60% to X tons, rising for the third year in a row after four years of decline. Overall, imports, however, recorded a mild slump. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working wood imports surged to $X in 2021. Over the period under review, imports, however, recorded a mild reduction. The pace of growth appeared the most rapid in 2020 when imports increased by 29% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the major importer of machine-tools for working wood, comprising 53% of total imports. It was distantly followed by Saudi Arabia (X tons), Oman (X tons), Qatar (X tons) and Kuwait (X tons), together committing a 43% share of total imports. Bahrain (X tons) held a relatively small share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +9.0% from 2012 to 2021. At the same time, Kuwait (+14.1%) and Oman (+10.5%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +14.1% from 2012-2021. Bahrain and Qatar experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-12.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates, Oman and Kuwait increased by +32, +5.2 and +3.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported machine-tools for working wood in GCC, comprising 56% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 26% share of total imports. It was followed by Qatar, with a 6% share.

In the United Arab Emirates, machine-tool for working wood imports expanded at an average annual rate of +4.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-8.4% per year) and Qatar (-4.0% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, reducing by -21.2% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 23% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted significantly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform