Kuwait: Salt Market 2024

Salt Market Size in Kuwait

The Kuwaiti salt market amounted to $X in 2022, with an increase of 11% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.8% against 2020 indices. Salt consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Salt Production in Kuwait

In value terms, salt production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 43% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then dropped in the following year.

Salt Exports

Exports from Kuwait

Salt exports from Kuwait fell markedly to X tons in 2022, reducing by -36.7% on the previous year. Over the period under review, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 366%. 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, salt exports fell significantly to $X in 2022. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 292%. As a result, the exports reached the peak of $X, and then shrank significantly in the following year.

Exports by Country

Belgium (X tons) was the main destination for salt exports from Kuwait, with a 54% share of total exports. Moreover, salt exports to Belgium exceeded the volume sent to the second major destination, Saudi Arabia (X tons), threefold. The third position in this ranking was held by Qatar (X tons), with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium totaled +71.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+12.7% per year) and Qatar (+37.7% per year).

In value terms, Belgium ($X) remains the key foreign market for salt and pure sodium chloride exports from Kuwait, comprising 66% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 9.5% share of total exports. It was followed by Qatar, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Belgium amounted to +76.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+14.7% per year) and Qatar (+30.7% per year).

Export Prices by Country

The average salt export price stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the export price, however, showed temperate growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 55%. The export price peaked at $X per ton in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Saudi Arabia ($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 Iraq (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Kuwait

In 2022, approx. X tons of salt and pure sodium chloride were imported into Kuwait; growing by 7% on the previous year's figure. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +10.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 163% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, salt imports expanded remarkably to $X in 2022. In general, imports recorded a remarkable increase. The growth pace was the most rapid in 2013 when imports increased by 77%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of salt to Kuwait, accounting for a 75% share of total imports. Moreover, salt imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.8% per year) and Spain (+65.0% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of salt and pure sodium chloride to Kuwait, comprising 58% of total imports. The second position in the ranking was held by India ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia totaled +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+14.1% per year) and Spain (+51.0% per year).

Import Prices by Country

In 2022, the average salt import price amounted to $X per ton, rising by 6.5% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 26% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average 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 Spain ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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