Kuwait: Sails Market 2024

Sails Market Size in Kuwait

In 2022, after two years of growth, there was significant decline in the Kuwaiti sails market, when its value decreased by -6.3% to $X. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.2% against 2018 indices. Sails consumption peaked at $X in 2021, and then dropped in the following year.

Sails Production in Kuwait

In value terms, sails production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient increase. The growth pace was the most rapid in 2014 when the production volume increased by 67%. Sails production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Sails Exports

Exports from Kuwait

In 2022, approx. X tons of sails were exported from Kuwait; declining by -14.9% against the previous year's figure. Over the period under review, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 1,315%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, sails exports shrank dramatically to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,048%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X kg), Saudi Arabia (X kg) and Qatar (X kg) were the main destinations of sails exports from Kuwait, together accounting for 93% 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 Saudi Arabia (with a CAGR of +26.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for sails exports from Kuwait, comprising 58% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 28% share of total exports. It was followed by Qatar, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+11.3% per year) and Qatar (+36.4% per year).

Export Prices by Country

In 2022, the average sails export price amounted to $X per ton, with a decrease of -7.4% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 38% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bahrain ($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 Qatar (+18.4%), while the prices for the other major destinations experienced mixed trend patterns.

Sails Imports

Imports into Kuwait

In 2022, after four years of growth, there was significant decline in supplies from abroad of sails, when their volume decreased by -13.1% to X tons. In general, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 487% against the previous year. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, sails imports contracted to $X in 2022. Overall, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2018 when imports increased by 407% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Pakistan (X tons) was the main sails supplier to Kuwait, with a 94% share of total imports. Moreover, sails imports from Pakistan exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Pakistan totaled +73.2%.

In value terms, Pakistan ($X) constituted the largest supplier of sails to Kuwait, comprising 79% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Pakistan stood at +89.7%.

Import Prices by Country

In 2022, the average sails import price amounted to $X per ton, surging by 5.5% against the previous year. Over the period under review, the import price, however, recorded a perceptible setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 30%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Pakistan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+17.3%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :