Libya: Seat Market 2024

Seat Market Size in Libya

The Libyan seat market soared to $X in 2021, rising by 46% 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, however, saw a deep slump. Seat consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Seat Exports

Exports from Libya

In 2021, shipments abroad of seats increased by 25% to X kg, rising for the second year in a row after six years of decline. Over the period under review, exports, however, continue to indicate a sharp downturn. The pace of growth appeared the most rapid in 2013 with an increase of 205%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, seat exports skyrocketed to $X in 2021. In general, exports posted a resilient expansion. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Niger (X kg) was the main destination for seat exports from Libya, with a 43% share of total exports. Moreover, seat exports to Niger exceeded the volume sent to the second major destination, Malta (X kg), threefold. The third position in this ranking was taken by the Dominican Republic (X kg), with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume to Niger totaled -13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malta (+27.1% per year) and the Dominican Republic (-30.3% per year).

In value terms, the largest markets for seat exported from Libya were Niger ($X), Malta ($X) and the UK ($X), with a combined 20% share of total exports.

Among the main countries of destination, Malta, with a CAGR of +6.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average seat export price stood at $X per ton in 2021, increasing by 176% against the previous year. In general, the export price posted significant growth. 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 foreign markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+18.3%), while the prices for the other major destinations experienced mixed trend patterns.

Seat Imports

Imports into Libya

Seat imports into Libya skyrocketed to X tons in 2021, increasing by 62% compared with the year before. Overall, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 135% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, seat imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2019 when imports increased by 128% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Turkey (X tons) and Italy (X tons) were the main suppliers of seat imports to Libya, together accounting for 32% of total imports. These countries were followed by the United Arab Emirates and Malaysia, which together accounted for a further 1.5%.

From 2012 to 2021, 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 +13.2%), while imports for the other leaders experienced a decline.

In value terms, Turkey ($X) constituted the largest supplier of seats to Libya, comprising 59% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by Italy, with a 3.6% share.

From 2012 to 2021, the average annual growth rate of value from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.0% per year) and Italy (-5.4% per year).

Import Prices by Country

The average seat import price stood at $X per ton in 2021, falling by -13.6% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, seat import price increased by +43.0% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of 38%. The import price peaked at $X per ton in 2020, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :