Kuwait: Carpet Market 2024

Carpet Market Size in Kuwait

In 2022, after five years of growth, there was significant decline in the Kuwaiti carpet market, when its value decreased by X% to $X. In general, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Carpet Exports

Exports from Kuwait

In 2022, overseas shipments of carpets and other textile floor coverings increased by X% to X square meters for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a measured expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at X square meters in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, carpet exports skyrocketed to $X in 2022. In general, exports enjoyed a noticeable increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X square meters) was the main destination for carpet exports from Kuwait, with a X% share of total exports. Moreover, carpet exports to Saudi Arabia exceeded the volume sent to the second major destination, Qatar (X square meters), threefold. Lebanon (X square meters) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (X% per year) and Lebanon (X% per year).

In value terms, Saudi Arabia ($X), Qatar ($X) and the United States ($X) appeared to be the largest markets for carpet exported from Kuwait worldwide, together accounting for X% of total exports.

The United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average carpet export price amounted to $X per square meter, surging by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per square meter), while the average price for exports to Oman ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (X%), while the prices for the other major destinations experienced a decline.

Carpet Imports

Imports into Kuwait

After five years of growth, overseas purchases of carpets and other textile floor coverings decreased by X% to X square meters in 2022. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at X square meters in 2021, and then reduced in the following year.

In value terms, carpet imports shrank to $X in 2022. Overall, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Lebanon (X square meters), Turkey (X square meters) and the United Arab Emirates (X square meters) were the main suppliers of carpet imports to Kuwait, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lebanon (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest carpet suppliers to Kuwait were Lebanon ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined X% share of total imports.

Among the main suppliers, Lebanon, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average carpet import price stood at $X per square meter in 2022, declining by X% against the previous year. Overall, the import price saw a pronounced setback. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per square meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for Lebanon ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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