GCC: Women Knitwear Market 2024

Women Knitwear Market Size in GCC

The GCC women knitwear market reduced to $X in 2022, declining by -2.6% against the previous year. The total consumption indicated a remarkable increase 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 +60.3% against 2016 indices. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Women Knitwear Production in GCC

In value terms, women knitwear production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 78%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Women Knitwear Exports

Exports in GCC

In 2022, overseas shipments of women's or girls' clothing (knitted or crocheted) decreased by -32.5% to X units, falling for the second consecutive year after two years of growth. In general, exports, however, saw noticeable growth. The pace of growth was the most pronounced in 2017 when exports increased by 73%. Over the period under review, the exports reached the maximum at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, women knitwear exports reduced sharply to $X in 2022. Overall, exports, however, saw notable growth. The most prominent rate of growth was recorded in 2020 when exports increased by 70%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the major exporting country with an export of about X units, which accounted for 75% of total exports. Bahrain (X units) ranks second in terms of the total exports with an 11% share, followed by Kuwait (8%). Oman (X units) and Qatar (X units) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to women knitwear exports from the United Arab Emirates stood at +5.0%. At the same time, Kuwait (+40.0%), Oman (+37.0%), Qatar (+11.1%) and Bahrain (+4.1%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +40.0% from 2012-2022. The United Arab Emirates (+9.9 p.p.), Kuwait (+7.6 p.p.), Oman (+4 p.p.) and Qatar (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest women knitwear supplier in GCC, comprising 63% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 15% share of total exports. It was followed by Kuwait, with a 10% share.

In the United Arab Emirates, women knitwear exports increased at an average annual rate of +2.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (+12.4% per year) and Kuwait (+31.7% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, falling by -25.2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 38% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+52.7%), while the other leaders experienced more modest paces of growth.

Women Knitwear Imports

Imports in GCC

In 2022, the amount of women's or girls' clothing (knitted or crocheted) imported in GCC dropped slightly to X units, shrinking by -2.6% compared with 2021 figures. Overall, imports recorded a pronounced setback. The pace of growth was the most pronounced in 2019 when imports increased by 117%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, women knitwear imports reduced to $X in 2022. Over the period under review, imports continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2021 with an increase of 73% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, accounting for X units, which was approx. 92% of total imports in 2022. It was distantly followed by Kuwait (X units), generating a 5% share of total imports. Oman (X units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to women knitwear imports into the United Arab Emirates stood at -2.9%. Oman experienced a relatively flat trend pattern. Kuwait (-3.8%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported women's or girls' clothing (knitted or crocheted) in GCC, comprising 63% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 7.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled -4.1%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-0.3% per year) and Oman (+3.6% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, shrinking by -8.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by 53% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 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 Kuwait ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform