GCC: Bracelet Market 2025

Bracelet Market Size in GCC

The GCC bracelet market dropped modestly to $X in 2022, waning by -4.6% against the previous year. In general, consumption, however, showed strong growth. Over the period under review, the market attained the maximum level at $X in 2021, and then declined slightly in the following year.

Bracelet Production in GCC

In value terms, bracelet production expanded rapidly to $X in 2022 estimated in export price. Overall, production recorded prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 120% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Bracelet Exports

Exports in GCC

In 2022, overseas shipments of watch straps, bands and bracelets decreased by -1.7% to X units, falling for the second year in a row after four years of growth. In general, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by 202% against the previous year. Over the period under review, the exports hit record highs at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, bracelet exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 195%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates represented the largest exporting country with an export of around X units, which recorded 80% of total exports. It was distantly followed by Oman (X units) and Saudi Arabia (X units), together achieving a 20% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +17.9% from 2012 to 2022. At the same time, Oman (+45.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +45.6% from 2012-2022. By contrast, Saudi Arabia (-6.2%) illustrated a downward trend over the same period. The United Arab Emirates (+21 p.p.) and Oman (+13 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -33.9% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest bracelet supplier in GCC, comprising 92% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 3.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +29.3%. In the other countries, the average annual rates were as follows: Saudi Arabia (-0.5% per year) and Oman (+43.5% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, jumping by 121% against the previous year. Overall, the export price saw a buoyant expansion. Over the period under review, the export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.7%), while the other leaders experienced mixed trends in the export price figures.

Bracelet Imports

Imports in GCC

In 2022, imports of watch straps, bands and bracelets in GCC declined to X units, waning by -7.1% compared with the previous year. Over the period under review, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 291% against the previous year. The volume of import peaked at X units in 2021, and then dropped in the following year.

In value terms, bracelet imports dropped dramatically to $X in 2022. In general, imports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 when imports increased by 63%. As a result, imports reached the peak of $X, and then shrank rapidly in the following year.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X units, which was near 79% of total imports in 2022. Kuwait (X units) ranks second in terms of the total imports with a 7.3% share, followed by Oman (6.4%) and Bahrain (4.8%). Qatar (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +14.6% from 2012 to 2022. At the same time, Oman (+20.1%) and Bahrain (+17.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +20.1% from 2012-2022. Kuwait experienced a relatively flat trend pattern. By contrast, Qatar (-4.2%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+19 p.p.), Oman (+3.4 p.p.) and Bahrain (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-9 p.p.) and Kuwait (-15.4 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported watch straps, bands and bracelets in GCC, comprising 72% of total imports. The second position in the ranking was held by Qatar ($X), with an 11% share of total imports. It was followed by Kuwait, with a 9.6% share.

In the United Arab Emirates, bracelet imports expanded at an average annual rate of +11.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Qatar (+29.2% per year) and Kuwait (+2.9% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, which is down by -11.1% against the previous year. In general, the import price saw a mild setback. The growth pace was the most rapid in 2013 an increase of 101% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 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 Qatar (+34.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform