Kuwait: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Kuwait

The Kuwaiti water-skis and surfboards market rose rapidly to $X in 2022, with an increase of 5.6% 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 recorded a buoyant increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Water-Skis And Surfboards Exports

Exports from Kuwait

Water-skis and surfboards exports from Kuwait surged to X units in 2022, with an increase of 188% compared with the previous year. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 193%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, water-skis and surfboards exports shrank significantly to $X in 2022. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 532%. As a result, the exports reached the peak of $X, and then dropped significantly in the following year.

Exports by Country

Bahrain (X units), Saudi Arabia (X units) and Iraq (X units) were the main destinations of water-skis and surfboards exports from Kuwait, together accounting for 82% 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 +80.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for water-skis and surfboards exported from Kuwait were the United Arab Emirates ($X), Oman ($X) and Iraq ($X), with a combined 66% share of total exports.

The United Arab Emirates, with a CAGR of +47.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average water-skis and surfboards export price stood at $X per unit in 2022, falling by -79.9% against the previous year. In general, the export price continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2021 an increase of 596% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per unit), while the average price for exports to Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+103.2%), while the prices for the other major destinations experienced more modest paces of growth.

Water-Skis And Surfboards Imports

Imports into Kuwait

Water-skis and surfboards imports into Kuwait soared to X units in 2022, increasing by 16% compared with the previous year's figure. In general, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by 163%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, water-skis and surfboards imports rose notably to $X in 2022. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 151%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of water-skis and surfboards to Kuwait, accounting for a 77% share of total imports. Moreover, water-skis and surfboards imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.0% per year) and the United States (-7.3% per year).

In value terms, China ($X) constituted the largest supplier of water-skis, surfboards and sailboards to Kuwait, comprising 36% of total imports. The second position in the ranking was held by India ($X), with an 8.4% share of total imports. It was followed by the United States, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.7% per year) and the United States (-9.0% per year).

Import Prices by Country

The average water-skis and surfboards import price stood at $X per unit in 2022, waning by -8.5% against the previous year. In general, the import price recorded a slight decline. The pace of growth appeared the most rapid in 2021 an increase of 17% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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