Kuwait: Sawnwood (Non-Coniferous) Market 2024

Sawnwood (Non-Coniferous) Market Size in Kuwait

The Kuwaiti sawnwood (non-coniferous) market reduced dramatically to $X in 2022, waning by -69.1% 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). In general, consumption saw a perceptible contraction. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Sawnwood (Non-Coniferous) Exports

Exports from Kuwait

In 2022, shipments abroad of sawnwood (non-coniferous) decreased by -72.1% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 247%. The exports peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sawnwood (non-coniferous) exports declined dramatically to $X in 2022. Over the period under review, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Bahrain (X cubic meters) was the main destination for sawnwood (non-coniferous) exports from Kuwait, accounting for a 79% share of total exports. Moreover, sawnwood (non-coniferous) exports to Bahrain exceeded the volume sent to the second major destination, Iraq (X cubic meters), more than tenfold. The third position in this ranking was held by Saudi Arabia (X cubic meters), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to Bahrain amounted to +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (-31.0% per year) and Saudi Arabia (-36.4% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for sawnwood (non-coniferous) exports from Kuwait, comprising 62% of total exports. The second position in the ranking was taken by Iraq ($X), with a 25% share of total exports. It was followed by Bahrain, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia stood at -11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (-22.9% per year) and Bahrain (-14.4% per year).

Export Prices by Country

In 2022, the average sawnwood (non-coniferous) export price amounted to $X per cubic meter, jumping by 138% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 376%. As a result, the export price attained the peak level of $X per cubic meter. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per cubic meter), while the average price for exports to Turkey ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+81.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sawnwood (Non-Coniferous) Imports

Imports into Kuwait

Sawnwood (non-coniferous) imports into Kuwait contracted remarkably to X cubic meters in 2022, which is down by -70.5% against the year before. Over the period under review, imports continue to indicate a mild shrinkage. The growth pace was the most rapid in 2019 when imports increased by 129%. As a result, imports attained the peak of X cubic meters. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, sawnwood (non-coniferous) imports contracted markedly to $X in 2022. Overall, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2019 with an increase of 187% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X cubic meters) constituted the largest supplier of sawnwood (non-coniferous) to Kuwait, with a 48% share of total imports. Moreover, sawnwood (non-coniferous) imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Romania (X cubic meters), fourfold. Germany (X cubic meters) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia totaled +74.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+6.2% per year) and Germany (+15.8% per year).

In value terms, the largest sawnwood (non-coniferous) suppliers to Kuwait were Saudi Arabia ($X), Malaysia ($X) and Germany ($X), together accounting for 51% of total imports.

Among the main suppliers, Saudi Arabia, with a CAGR of +54.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average sawnwood (non-coniferous) import price stood at $X per cubic meter in 2022, jumping by 22% against the previous year. Overall, the import price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2021 an increase of 34%. The import price peaked at $X per cubic meter in 2012; however, from 2013 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 Malaysia ($X per cubic meter), while the price for Saudi Arabia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+26.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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