GCC: Market for Pen Or Pencil Sets 2024

Market Size for Pen Or Pencil Sets in GCC

In 2022, the GCC pen or pencil sets market was finally on the rise to reach $X after two years of decline. In general, consumption, however, saw a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Pen Or Pencil Sets in GCC

In value terms, pen or pencil sets production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed a deep reduction. The pace of growth was the most pronounced in 2019 when the production volume increased by 28%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Pen Or Pencil Sets

Exports in GCC

Pen or pencil sets exports declined remarkably to X units in 2022, which is down by -23.2% against 2021 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 217%. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, pen or pencil sets exports dropped notably to $X in 2022. Overall, exports, however, posted a strong increase. The growth pace was the most rapid in 2013 when exports increased by 111% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X units, which was near 96% of total exports in 2022. Saudi Arabia (X units) took a little share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the pen or pencil sets exports, with a CAGR of +1.1% from 2012 to 2022. Saudi Arabia (-2.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+2.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest pen or pencil sets supplier in GCC, comprising 95% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +8.2%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, growing by 8.5% against the previous year. Overall, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2016 an increase of 138% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the United Arab Emirates totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.1%).

Imports of Pen Or Pencil Sets

Imports in GCC

In 2022, purchases abroad of pen or pencil sets was finally on the rise to reach X units after two years of decline. In general, imports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2019 when imports increased by 107%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, pen or pencil sets imports soared to $X in 2022. Overall, imports, however, continue to indicate a abrupt descent. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the main importing country with an import of around X units, which accounted for 75% of total imports. It was distantly followed by Qatar (X units) and Kuwait (X units), together mixing up a 21% share of total imports. Oman (X units) held a minor share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the pen or pencil sets imports, with a CAGR of -1.5% from 2012 to 2022. Oman (-3.5%), Qatar (-11.3%) and Kuwait (-17.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by +27 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported pen or pencil sets in GCC, comprising 93% of total imports. The second position in the ranking was held by Kuwait ($X), with a 3.5% share of total imports. It was followed by Qatar, with a 1.6% share.

In the United Arab Emirates, pen or pencil sets imports declined by an average annual rate of -11.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-16.3% per year) and Qatar (-29.3% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, declining by -34.2% against the previous year. Over the period under review, the import price showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 185% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Qatar ($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 (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform