Kuwait: Plaits And Basketwork Market 2024

Plaits And Basketwork Market Size in Kuwait

In 2022, the Kuwaiti plaits and basketwork market decreased by -11.9% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption, however, recorded a strong increase. Over the period under review, the market attained the maximum level at $X in 2021, and then declined in the following year.

Plaits And Basketwork Production in Kuwait

In value terms, plaits and basketwork production amounted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 57% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Plaits And Basketwork Exports

Exports from Kuwait

In 2022, plaits and basketwork exports from Kuwait rose notably to X tons, increasing by 7.4% on the previous year's figure. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 188%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, plaits and basketwork exports dropped to $X in 2022. Over the period under review, exports showed slight growth. The most prominent rate of growth was recorded in 2014 when exports increased by 289% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iran (X tons), Bahrain (X tons) and France (X tons) were the main destinations of plaits and basketwork exports from Kuwait, together accounting for 62% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +591.8%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) remains the key foreign market for plaits, basketwork, wickerwork and similar products of plaiting materials exports from Kuwait, comprising 23% of total exports. The second position in the ranking was held by Bahrain ($X), with a 12% share of total exports. It was followed by Qatar, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran stood at +39.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+53.8% per year) and Qatar (+21.0% per year).

Export Prices by Country

In 2022, the average plaits and basketwork export price amounted to $X per ton, declining by -20.7% against the previous year. In general, the export price, however, posted a slight increase. The growth pace was the most rapid in 2018 an increase of 85% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Italy ($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 the United Arab Emirates (+28.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plaits And Basketwork Imports

Imports into Kuwait

In 2022, imports of plaits, basketwork, wickerwork and similar products of plaiting materials into Kuwait shrank dramatically to X tons, waning by -22.9% compared with the previous year. Overall, imports, however, recorded resilient growth. The pace of growth was the most pronounced in 2016 with an increase of 154%. Imports peaked at X tons in 2021, and then fell remarkably in the following year.

In value terms, plaits and basketwork imports reduced markedly to $X in 2022. Over the period under review, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 103% against the previous year. Imports peaked at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plaits and basketwork to Kuwait, accounting for a 51% share of total imports. Moreover, plaits and basketwork imports from China exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+63.3% per year) and India (+40.8% per year).

In value terms, China ($X) constituted the largest supplier of plaits, basketwork, wickerwork and similar products of plaiting materials to Kuwait, comprising 44% of total imports. The second position in the ranking was taken by the United States ($X), with a 3.9% share of total imports. It was followed by Germany, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+83.7% per year) and Germany (+10.5% per year).

Import Prices by Country

In 2022, the average plaits and basketwork import price amounted to $X per ton, picking up by 5.9% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plaits and basketwork import price decreased by -4.9% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 34%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a 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 Germany ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :