Kuwait: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Kuwait

The Kuwaiti industrial sewing machine market fell to $X in 2022, declining by -11.6% 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 continues to indicate a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Industrial Sewing Machine Exports

Exports from Kuwait

Industrial sewing machine exports from Kuwait declined remarkably to X units in 2022, dropping by -47.1% compared with 2021 figures. Over the period under review, exports recorded a noticeable reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 750% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, industrial sewing machine exports reduced remarkably to $X in 2022. In general, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 1,209% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Qatar (X units) was the main destination for industrial sewing machine exports from Kuwait, accounting for a 89% share of total exports. Moreover, industrial sewing machine exports to Qatar exceeded the volume sent to the second major destination, Iran (X units), more than tenfold. Kazakhstan (X units) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to Qatar amounted to +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (-17.7% per year) and Kazakhstan (-21.3% per year).

In value terms, Qatar ($X) remains the key foreign market for industrial sewing machines exports from Kuwait, comprising 90% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.6% share of total exports. It was followed by Kazakhstan, with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-22.7% per year) and Kazakhstan (-14.9% per year).

Export Prices by Country

The average industrial sewing machine export price stood at $X per unit in 2022, picking up by 1.7% against the previous year. Overall, the export price, however, recorded a perceptible reduction. The growth pace was the most rapid in 2015 when the average export price increased by 120%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Iran ($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 Jordan (+44.7%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Sewing Machine Imports

Imports into Kuwait

In 2022, imports of industrial sewing machines into Kuwait fell modestly to X units, waning by -4.3% against the year before. Over the period under review, imports saw a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of 207%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial sewing machine imports reduced remarkably to $X in 2022. In general, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 93% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of industrial sewing machine to Kuwait, accounting for a 49% share of total imports. Moreover, industrial sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. India (X units) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.2% per year) and India (+59.1% per year).

In value terms, China ($X) constituted the largest supplier of industrial sewing machines to Kuwait, comprising 45% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by Japan, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.6% per year) and Japan (-2.3% per year).

Import Prices by Country

In 2022, the average industrial sewing machine import price amounted to $X per unit, shrinking by -15.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 104% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+29.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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