Kuwait: Twig Broom Market 2024

Twig Broom Market Size in Kuwait

The Kuwaiti twig broom market fell notably to $X in 2021, with a decrease of -46.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed prominent growth. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Twig Broom Exports

Exports from Kuwait

In 2021, the amount of brooms and brushes of twigs exported from Kuwait surged to X units, with an increase of 62% against the previous year's figure. In general, exports, however, recorded a noticeable setback. The pace of growth was the most pronounced in 2017 with an increase of 1,298% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, twig broom exports surged to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 869%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for twig broom exports from Kuwait, accounting for a 69% share of total exports. Moreover, twig broom exports to the United Arab Emirates exceeded the volume sent to the second major destination, Oman (X units), fourfold.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-76.7% per year) and Qatar (-22.3% per year).

In value terms, the largest markets for twig broom exported from Kuwait were the United Arab Emirates ($X), Qatar ($X) and Oman ($X), together comprising 100% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +9.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average twig broom export price amounted to $X per unit, growing by 11% against the previous year. Over the period under review, the export price posted a strong expansion. The most prominent rate of growth was recorded in 2016 an increase of 5,807% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Qatar ($X per unit), while the average price for exports to Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+26.1%), while the prices for the other major destinations experienced mixed trend patterns.

Twig Broom Imports

Imports into Kuwait

In 2021, overseas purchases of brooms and brushes of twigs decreased by -49% to X units for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, recorded temperate growth. The pace of growth appeared the most rapid in 2015 when imports increased by 123%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, twig broom imports reduced remarkably to $X in 2021. Over the period under review, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 186%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of twig broom to Kuwait, with a 38% share of total imports. Moreover, twig broom imports from China exceeded the figures recorded by the second-largest supplier, Jordan (X units), twofold. The third position in this ranking was held by Sri Lanka (X units), with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+35.1% per year) and Sri Lanka (-4.1% per year).

In value terms, China ($X) constituted the largest supplier of brooms and brushes of twigs to Kuwait, comprising 38% of total imports. The second position in the ranking was taken by Jordan ($X), with a 15% share of total imports. It was followed by Malta, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+38.1% per year) and Malta (+16.7% per year).

Import Prices by Country

The average twig broom import price stood at $X per unit in 2021, increasing by 9.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.2%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 28%. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :