Kuwait: Handbag Market 2024

Handbag Market Size in Kuwait

In 2022, the Kuwaiti handbag market increased by 18% to $X, rising for the second consecutive year after four years of decline. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +34.4% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Handbag Exports

Exports from Kuwait

Handbag exports from Kuwait dropped dramatically to X units in 2022, falling by -43.8% compared with 2021. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 360% against the previous year. As a result, the exports attained the peak of X units, and then plummeted in the following year.

In value terms, handbag exports declined rapidly to $X in 2022. In general, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of 224% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted markedly in the following year.

Exports by Country

The United Arab Emirates (X units), Free Zones (X units) and Qatar (X units) were the main destinations of handbag exports from Kuwait, with a combined 72% share of total exports. Italy, Saudi Arabia, Mauritania, Oman and Venezuela lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Mauritania (with a CAGR of +99.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for handbag exported from Kuwait were Italy ($X), Saudi Arabia ($X) and Qatar ($X), with a combined 56% share of total exports. Free Zones, the United Arab Emirates, Oman, Mauritania and Venezuela lagged somewhat behind, together accounting for a further 5.1%.

Among the main countries of destination, Mauritania, with a CAGR of +96.6%, saw the highest growth rate of the value of exports, 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 handbag export price amounted to $X per unit, growing by 27% against the previous year. Over the period under review, the export price continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2014 when the average export price increased by 194%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Mauritania ($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 Saudi Arabia (+57.7%), while the prices for the other major destinations experienced more modest paces of growth.

Handbag Imports

Imports into Kuwait

In 2022, overseas purchases of handbags increased by 40% to X units, rising for the second consecutive year after four years of decline. Over the period under review, imports showed a temperate increase. The pace of growth appeared the most rapid in 2013 with an increase of 71% against the previous year. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, handbag imports fell to $X in 2022. Overall, imports recorded prominent growth. The growth pace was the most rapid in 2013 when imports increased by 70% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, the United Arab Emirates (X units) constituted the largest supplier of handbag to Kuwait, accounting for a 76% share of total imports. Moreover, handbag imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. The third position in this ranking was held by India (X units), with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.1% per year) and India (+2.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of handbags to Kuwait, comprising 75% of total imports. The second position in the ranking was taken by China ($X), with a 5.4% share of total imports. It was followed by Italy, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.7% per year) and Italy (+3.6% per year).

Import Prices by Country

The average handbag import price stood at $X per unit in 2022, dropping by -35.6% against the previous year. Over the period under review, the import price, however, continues to indicate prominent growth. The pace of growth appeared the most rapid in 2020 an increase of 86%. Over the period under review, average import prices attained the peak figure at $X per unit in 2021, and then fell notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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