Kuwait: Wire And Cable Market 2024

Wire And Cable Market Size in Kuwait

In 2021, the Kuwaiti wire and cable market decreased by -5.1% to $X, falling for the third year in a row after three years of growth. In general, consumption recorded a mild decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Wire And Cable Production in Kuwait

In value terms, wire and cable production rose slightly to $X in 2021 estimated in export price. Overall, production recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 21%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Wire And Cable Exports

Exports from Kuwait

In 2021, the amount of insulated wire and cable exported from Kuwait fell sharply to X tons, with a decrease of -18% against the year before. Over the period under review, exports saw a abrupt decline. The pace of growth was the most pronounced in 2019 when exports increased by 899% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, wire and cable exports soared to $X in 2021. In general, exports saw a abrupt descent. The pace of growth was the most pronounced in 2019 with an increase of 787%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Iraq (X tons) was the main destination for wire and cable exports from Kuwait, accounting for a 81% share of total exports. Moreover, wire and cable exports to Iraq exceeded the volume sent to the second major destination, Bahrain (X tons), eightfold. India (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iraq stood at +38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-21.6% per year) and India (+36.8% per year).

In value terms, Iraq ($X) remains the key foreign market for insulated wire and cable exports from Kuwait, comprising 84% of total exports. The second position in the ranking was held by Bahrain ($X), with a 9.3% share of total exports. It was followed by the United Arab Emirates, with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value to Iraq amounted to +61.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-19.2% per year) and the United Arab Emirates (-35.7% per year).

Export Prices by Country

The average wire and cable export price stood at $X per ton in 2021, growing by 61% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Jordan ($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 Iraq (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Kuwait

In 2021, purchases abroad of insulated wire and cable decreased by -15.6% to X tons, falling for the fourth year in a row after two years of growth. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 134% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, wire and cable imports shrank to $X in 2021. Overall, imports recorded a perceptible slump. The pace of growth appeared the most rapid in 2013 with an increase of 97% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Oman (X tons), Egypt (X tons) and China (X tons) were the main suppliers of wire and cable imports to Kuwait, with a combined 49% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +23.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wire and cable suppliers to Kuwait were Oman ($X), China ($X) and Egypt ($X), together accounting for 45% of total imports.

In terms of the main suppliers, Egypt, with a CAGR of +16.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average wire and cable import price amounted to $X per ton, with an increase of 11% against the previous year. In general, the import price, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 13% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :