Kuwait: Flax Fabric Market 2024

Flax Fabric Market Size in Kuwait

The Kuwaiti flax fabric market soared to $X in 2022, rising by 34% against the previous year. Over the period under review, consumption, however, posted a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Flax Fabric Production in Kuwait

In value terms, flax fabric production skyrocketed to $X in 2022 estimated in export price. Overall, production showed a abrupt decrease. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Flax Fabric Exports

Exports from Kuwait

In 2022, after ten years of growth, there was significant decline in shipments abroad of woven fabrics of flax, when their volume decreased by -50.7% to X kg. In general, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 245% against the previous year. As a result, the exports attained the peak of X kg, and then reduced markedly in the following year.

In value terms, flax fabric exports contracted remarkably to $X in 2022. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 1,937%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X kg) was the main destination for flax fabric exports from Kuwait, with a 76% share of total exports. Moreover, flax fabric exports to India exceeded the volume sent to the second major destination, Bahrain (X kg), sevenfold. Qatar (X kg) ranked third in terms of total exports with an 8.8% share.

From 2020 to 2022, the average annual growth rate of volume to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-24.4% per year) and Qatar (-52.0% per year).

In value terms, India ($X) emerged as the key foreign market for woven fabrics of flax exports from Kuwait, comprising 92% of total exports. The second position in the ranking was held by Bahrain ($X), with a 4.4% share of total exports. It was followed by Qatar, with a 3.2% share.

From 2020 to 2022, the average annual rate of growth in terms of value to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-62.2% per year) and Qatar (-63.3% per year).

Export Prices by Country

In 2022, the average flax fabric export price amounted to $X per ton, surging by 40% against the previous year. Over the last two-year period, it increased at an average annual rate of +3.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Iceland ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (-23.6%).

Flax Fabric Imports

Imports into Kuwait

In 2022, supplies from abroad of woven fabrics of flax decreased by -1.4% to X tons for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 2.7%. As a result, imports attained the peak of X tons, and then dropped slightly in the following year.

In value terms, flax fabric imports fell modestly to $X in 2022. Overall, imports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 92% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Turkey (X tons) were the main suppliers of flax fabric imports to Kuwait, with a combined 89% share of total imports. The United States, Italy and the United Arab Emirates lagged somewhat behind, together accounting for a further 6%.

From 2020 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +38.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of woven fabrics of flax to Kuwait, comprising 51% of total imports. The second position in the ranking was taken by China ($X), with a 25% share of total imports. It was followed by Italy, with a 6.8% share.

From 2020 to 2022, the average annual rate of growth in terms of value from India amounted to +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.9% per year) and Italy (+63.2% per year).

Import Prices by Country

In 2022, the average flax fabric import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 1.8% against the previous year. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+32.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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