Kuwait: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Kuwait

In 2021, the Kuwaiti market for machines for preparing, weaving and knitting textiles increased by 96% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption posted resilient growth. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports from Kuwait

In 2021, the amount of machines for preparing, weaving and knitting textiles exported from Kuwait soared to X units, with an increase of 66% compared with the previous year's figure. Overall, exports showed prominent growth. The pace of growth appeared the most rapid in 2019 when exports increased by 100%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, textile weaving and knitting machinery exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a abrupt shrinkage. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X units) was the main destination for textile weaving and knitting machinery exports from Kuwait, with a 99% share of total exports. It was followed by the United Arab Emirates (X units), with a 0.8% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia stood at +22.4%.

In value terms, Saudi Arabia ($X) remains the key foreign market for machines for preparing, weaving and knitting textiles exports from Kuwait, comprising 90% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia totaled -19.5%.

Export Prices by Country

In 2021, the average export price for machines for preparing, weaving and knitting textiles amounted to $X per unit, falling by -28.6% against the previous year. Overall, the export price faced a sharp reduction. The pace of growth was the most pronounced in 2018 a decrease of -4.1%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, 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 Saudi Arabia totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+8.3%).

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports into Kuwait

In 2021, overseas purchases of machines for preparing, weaving and knitting textiles were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a prominent increase. The growth pace was the most rapid in 2017 with an increase of 102% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, textile weaving and knitting machinery imports soared to $X in 2021. Over the period under review, imports saw a mild expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 139% 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

In 2021, China (X units) constituted the largest supplier of textile weaving and knitting machinery to Kuwait, with a 65% share of total imports. Moreover, textile weaving and knitting machinery imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), ninefold. The UK (X units) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+17.3% per year) and the UK (+51.3% per year).

In value terms, the largest textile weaving and knitting machinery suppliers to Kuwait were Japan ($X), China ($X) and the United Arab Emirates ($X), together accounting for 60% of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of +49.1%, recorded the highest growth rate of 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 import price for machines for preparing, weaving and knitting textiles amounted to $X per unit, rising by 11% against the previous year. Overall, the import price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2013 an increase of 40% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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 the United Arab Emirates ($X per unit), while the price for the UK ($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 (+9.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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