Kuwait: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Kuwait

The Kuwaiti lathe for removing metal market skyrocketed to $X in 2021, growing by 482% 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). Over the period under review, consumption, however, recorded a perceptible shrinkage. Lathe for removing metal consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Exports of Lathes For Removing Metal

Exports from Kuwait

In 2021, exports of lathes for removing metal from Kuwait declined significantly to X units, dropping by -96.2% compared with the previous year's figure. Over the period under review, exports recorded a sharp contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 246%. Over the period under review, the lafor removing metal exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, lathe for removing metal exports shrank rapidly to $X in 2021. Overall, exports saw a dramatic downturn. The pace of growth was the most pronounced in 2016 with an increase of 279% against the previous year. Over the period under review, the lafor removing metal exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X units) was the main destination for lathe for removing metal exports from Kuwait, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy amounted to -18.1%.

In value terms, Saudi Arabia ($X) remains the key foreign market for lathes for removing metal exports from Kuwait, comprising 67% of total exports. The second position in the ranking was taken by Italy ($X), with a 15% share of total exports. It was followed by Iraq, with a 2.1% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia amounted to +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-28.6% per year) and Iraq (-0.7% per year).

Export Prices by Country

The average lathe for removing metal export price stood at $X per unit in 2021, picking up by 44% against the previous year. In general, the export price enjoyed significant growth. The pace of growth was the most pronounced in 2017 an increase of 145%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Italy ($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 Iraq (+255.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lathes For Removing Metal

Imports into Kuwait

Lathe for removing metal imports into Kuwait soared to X units in 2021, jumping by 91% against the year before. Over the period under review, imports, however, faced a drastic downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 162% against the previous year. Over the period under review, lafor removing metal imports hit record highs at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, lathe for removing metal imports soared to $X in 2021. In general, imports enjoyed resilient growth. Over the period under review, lafor removing metal imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Egypt (X units), India (X units) and South Korea (X units) were the main suppliers of lathe for removing metal imports to Kuwait, with a combined 88% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +15.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X) constituted the largest supplier of lathes for removing metal to Kuwait, comprising 26% of total imports. The second position in the ranking was held by India ($X), with a 5.2% share of total imports. It was followed by the UK, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +185.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+26.9% per year) and the UK (+13.8% per year).

Import Prices by Country

In 2021, the average lathe for removing metal import price amounted to $X per unit, growing by 73% against the previous year. In general, the import price posted a remarkable increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 279% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Egypt ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2,127.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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