Kuwait: Measuring Instrument Market 2022

Measuring Instrument Market Size in Kuwait

In 2021, the Kuwaiti measuring instrument market increased by 25% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a deep contraction. Measuring instrument consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Measuring Instrument Exports

Exports from Kuwait

In 2021, after four years of growth, there was significant decline in overseas shipments of instruments and apparatus for measuring or checking the flow or level of liquids, when their volume decreased by -8% to X units. In general, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 171%. The exports peaked at X units in 2020, and then shrank in the following year.

In value terms, measuring instrument exports declined dramatically to $X in 2021. Overall, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 140%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X units), the United Arab Emirates (X units) and France (X units) were the main destinations of measuring instrument exports from Kuwait, together accounting for 71% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +105.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for measuring instrument exports from Kuwait, comprising 35% of total exports. The second position in the ranking was taken by Qatar ($X), with a 12% share of total exports. It was followed by South Korea, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+67.1% per year) and South Korea (+70.3% per year).

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2021, declining by -8.2% against the previous year. In general, the export price recorded a dramatic contraction. The pace of growth was the most pronounced in 2018 an increase of 53%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Qatar ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+1.9%), while the prices for the other major destinations experienced a decline.

Measuring Instrument Imports

Imports into Kuwait

In 2021, overseas purchases of instruments and apparatus for measuring or checking the flow or level of liquids were finally on the rise to reach X units after two years of decline. In general, imports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 319% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, measuring instrument imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 225%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X units) constituted the largest measuring instrument supplier to Kuwait, accounting for a 42% share of total imports. Moreover, measuring instrument imports from Malaysia exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia totaled +117.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+24.4% per year) and the United Arab Emirates (-16.8% per year).

In value terms, the Netherlands ($X), Malaysia ($X) and the United Arab Emirates ($X) appeared to be the largest measuring instrument suppliers to Kuwait, together accounting for 57% of total imports.

Malaysia, with a CAGR of +96.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average measuring instrument import price amounted to $X per unit, waning by -7.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 70%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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