Kuwait: Fishing Rod Market 2024

Fishing Rod Market Size in Kuwait

The Kuwaiti fishing rod market skyrocketed to $X in 2021, with an increase of 69% 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 showed buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fishing Rod Exports

Exports from Kuwait

In 2021, shipments abroad of fishing rods and other line fishing tackle increased by 164% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 3,502%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, fishing rod exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2017 when exports increased by 1,600%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Egypt (X kg) was the main destination for fishing rod exports from Kuwait, accounting for a 66% share of total exports. Moreover, fishing rod exports to Egypt exceeded the volume sent to the second major destination, Qatar (X kg), fourfold. The United Arab Emirates (X kg) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt stood at +45.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-22.6% per year) and the United Arab Emirates (-20.0% per year).

In value terms, the largest markets for fishing rod exported from Kuwait were Egypt ($X), the United Arab Emirates ($X) and Qatar ($X), with a combined 89% share of total exports.

Egypt, with a CAGR of +46.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average fishing rod export price amounted to $X per ton, which is down by -27.6% against the previous year. In general, the export price, however, continues to indicate a resilient increase. The growth pace was the most rapid in 2016 when the average export price increased by 158% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+27.8%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Kuwait

In 2021, the amount of fishing rods and other line fishing tackle imported into Kuwait skyrocketed to X tons, with an increase of 50% on the previous year's figure. Over the period under review, imports showed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fishing rod imports surged to $X in 2021. Overall, imports showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest fishing rod supplier to Kuwait, with a 72% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +18.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+15.9% per year) and the United Arab Emirates (+25.6% per year).

In value terms, China ($X) constituted the largest supplier of fishing rods and other line fishing tackle to Kuwait, comprising 42% of total imports. The second position in the ranking was taken by Italy ($X), with an 11% share of total imports. It was followed by Japan, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.5% per year) and Japan (+30.4% per year).

Import Prices by Country

The average fishing rod import price stood at $X per ton in 2021, jumping by 24% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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