Kuwait: Data Storage Device Market 2024

Data Storage Device Market Size in Kuwait

In 2022, after two years of growth, there was significant decline in the Kuwaiti data storage device market, when its value decreased by -18.1% to $X. Over the period under review, consumption saw a mild contraction. Data storage device consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Data Storage Device Exports

Exports from Kuwait

In 2022, the amount of data storage devices exported from Kuwait shrank sharply to X units, waning by -41.3% against the year before. In general, exports, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 536%. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, data storage device exports fell markedly to $X in 2022. Overall, exports, however, showed strong growth. The pace of growth was the most pronounced in 2021 when exports increased by 449%. As a result, the exports reached the peak of $X, and then shrank sharply in the following year.

Exports by Country

Qatar (X units), the United Arab Emirates (X units) and the Netherlands (X units) were the main destinations of data storage device exports from Kuwait, together comprising 87% of total exports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +21.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Qatar ($X) and Hong Kong SAR ($X) constituted the largest markets for data storage device exported from Kuwait worldwide, with a combined 78% share of total exports.

The United Arab Emirates, with a CAGR of +17.5%, saw the highest growth rate of the value of exports, in terms of 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

The average data storage device export price stood at $X per unit in 2022, leveling off at the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, data storage device export price decreased by -13.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 87% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+28.7%), while the prices for the other major destinations experienced more modest paces of growth.

Data Storage Device Imports

Imports into Kuwait

In 2022, after two years of growth, there was significant decline in overseas purchases of data storage devices, when their volume decreased by -22.5% to X units. In general, imports showed a pronounced downturn. The pace of growth appeared the most rapid in 2021 with an increase of 77% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, data storage device imports dropped significantly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 47%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia (X units), Thailand (X units) and China (X units) were the main suppliers of data storage device imports to Kuwait, together accounting for 80% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +122.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of data storage devices to Kuwait, comprising 31% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 5.9% share of total imports. It was followed by Mexico, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand totaled +118.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-2.3% per year) and Mexico (+11.8% per year).

Import Prices by Country

The average data storage device import price stood at $X per unit in 2022, rising by 8.4% against the previous year. Overall, the import price recorded a pronounced increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 63% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a 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 Mexico ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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