Kuwait: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Kuwait

The Kuwaiti metal office furniture market dropped to $X in 2022, with a decrease of -4.4% 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, showed a mild contraction. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Metal Office Furniture Exports

Exports from Kuwait

In 2022, approx. X tons of metal office furniture were exported from Kuwait; dropping by -43.3% against the year before. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 2,649%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal office furniture exports reduced sharply to $X in 2022. In general, exports, however, recorded significant growth. The growth pace was the most rapid in 2015 with an increase of 4,543%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons), Qatar (X tons) and Egypt (X tons) were the main destinations of metal office furniture exports from Kuwait, together accounting for 81% of total exports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +25.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for metal office furniture exported from Kuwait were Qatar ($X), Saudi Arabia ($X) and Egypt ($X), together accounting for 86% of total exports.

Egypt, with a CAGR of +47.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average metal office furniture export price amounted to $X per ton, shrinking by -1.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 69% against the previous year. The export price peaked at $X per ton in 2021, and then contracted slightly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Office Furniture Imports

Imports into Kuwait

In 2022, approx. X tons of metal office furniture were imported into Kuwait; falling by -1.6% compared with 2021. Overall, imports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2014 with an increase of 30%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, metal office furniture imports declined to $X in 2022. Over the period under review, imports, however, posted temperate growth. The growth pace was the most rapid in 2015 with an increase of 75%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal office furniture supplier to Kuwait, with a 37% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, Oman (X tons), threefold. The UK (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (-21.1% per year) and the UK (+24.0% per year).

In value terms, China ($X), the UK ($X) and Spain ($X) were the largest metal office furniture suppliers to Kuwait, with a combined 43% share of total imports. Italy, the United States, Oman, Turkey, the United Arab Emirates and Malaysia lagged somewhat behind, together accounting for a further 30%.

Among the main suppliers, Turkey, with a CAGR of +25.5%, 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

The average metal office furniture import price stood at $X per ton in 2022, with a decrease of -7.9% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +9.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal office furniture import price increased by +9.6% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 85%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :