Kuwait: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Kuwait

The Kuwaiti wooden office furniture market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption enjoyed a strong expansion. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Wooden Office Furniture Exports

Exports from Kuwait

In 2021, shipments abroad of wooden furniture of a kind used in offices increased by 19% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 848%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, wooden office furniture exports fell slightly to $X in 2021. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 785%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X units), Qatar (X units) and Jordan (X units) were the main destinations of wooden office furniture exports from Kuwait, with a combined 97% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +50.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wooden office furniture exported from Kuwait were Qatar ($X), Saudi Arabia ($X) and Jordan ($X), together comprising 97% of total exports.

Jordan, with a CAGR of +51.0%, saw 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

In 2021, the average wooden office furniture export price amounted to $X per unit, waning by -18.8% against the previous year. Over the period under review, the export price showed a deep downturn. The pace of growth appeared the most rapid in 2016 an increase of 45%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 Qatar ($X per unit), while the average price for exports to Jordan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+2.2%), while the prices for the other major destinations experienced a decline.

Wooden Office Furniture Imports

Imports into Kuwait

In 2021, after two years of decline, there was significant growth in purchases abroad of wooden furniture of a kind used in offices, when their volume increased by 30% to X units. In general, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 105%. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, wooden office furniture imports surged to $X in 2021. Over the period under review, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2014 when imports increased by 73% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest wooden office furniture supplier to Kuwait, accounting for a 41% share of total imports. Moreover, wooden office furniture imports from China exceeded the figures recorded by the second-largest supplier, Austria (X units), twofold. The third position in this ranking was taken by Italy (X units), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+49.0% per year) and Italy (-9.3% per year).

In value terms, Austria ($X), China ($X) and Italy ($X) were the largest wooden office furniture suppliers to Kuwait, together accounting for 65% of total imports. The United States, the United Arab Emirates, Turkey, Poland, the Czech Republic, India, Malaysia and Thailand lagged somewhat behind, together accounting for a further 20%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +84.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wooden office furniture import price stood at $X per unit in 2021, with an increase of 29% against the previous year. Overall, the import price, however, recorded a pronounced decline. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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