Middle East: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in the Middle East

After two years of decline, the Middle Eastern umbrella and walking-stick market increased by 1.3% to $X in 2022. Over the period under review, consumption, however, saw a perceptible decrease. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Umbrella And Walking-Stick Production in the Middle East

In value terms, umbrella and walking-stick production contracted slightly to $X in 2022 estimated in export price. In general, production recorded a deep contraction. The growth pace was the most rapid in 2013 when the production volume increased by 13% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Umbrella And Walking-Stick Exports

Exports in the Middle East

In 2022, after three years of decline, there was significant growth in overseas shipments of umbrellas and walking-sticks, when their volume increased by 25% to X units. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 28% against the previous year. Over the period under review, the exports attained the maximum at X units in 2018; afterwards, it flattened through to 2022.

In value terms, umbrella and walking-stick exports skyrocketed to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Turkey was the major exporting country with an export of about X units, which resulted at 69% of total exports. It was distantly followed by the United Arab Emirates (X units), making up a 21% share of total exports. Saudi Arabia (X units) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +4.2% from 2012 to 2022. At the same time, Saudi Arabia (+22.5%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +22.5% from 2012-2022. By contrast, the United Arab Emirates (-5.8%) illustrated a downward trend over the same period. Turkey (+19 p.p.) and Saudi Arabia (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -21% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest umbrella and walking-stick supplier in the Middle East, comprising 81% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.2% share of total exports.

In Turkey, umbrella and walking-stick exports expanded at an average annual rate of +6.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-6.8% per year) and Saudi Arabia (+36.1% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, picking up by 3.5% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, umbrella and walking-stick export price increased by +69.2% against 2017 indices. The growth pace was the most rapid in 2021 when the export price increased by 41% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.0%), while the other leaders experienced mixed trends in the export price figures.

Umbrella And Walking-Stick Imports

Imports in the Middle East

In 2022, after two years of decline, there was significant growth in supplies from abroad of umbrellas and walking-sticks, when their volume increased by 26% to X units. Over the period under review, imports, however, saw a deep setback. The growth pace was the most rapid in 2019 when imports increased by 40%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, umbrella and walking-stick imports rose rapidly to $X in 2022. Overall, imports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2019 when imports increased by 49%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the largest importing country with an import of about X units, which accounted for 37% of total imports. It was distantly followed by the United Arab Emirates (X units), Israel (X units), Iraq (X units) and Iran (X units), together generating a 52% share of total imports. The following importers - Yemen (X units) and Kuwait (X units) - each recorded a 6.3% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to umbrella and walking-stick imports into Turkey stood at -2.5%. At the same time, Yemen (+4.9%) and Iraq (+3.5%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +4.9% from 2012-2022. By contrast, Israel (-2.4%), Kuwait (-6.2%), the United Arab Emirates (-15.6%) and Iran (-17.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Israel, Iraq and Yemen increased by +18, +7.6, +7.3 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Israel ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, with a combined 69% share of total imports. Iraq, Iran, Kuwait and Yemen lagged somewhat behind, together accounting for a further 22%.

Among the main importing countries, Yemen, with a CAGR of +13.5%, 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 import price in the Middle East stood at $X per unit in 2022, falling by -15% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, umbrella and walking-stick import price increased by +33.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 57% against the previous year. As a result, import price attained the peak level of $X per unit, and then declined notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+15.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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