Middle East: Woolen Fabric Market 2022

Woolen Fabric Market Size in the Middle East

In 2021, after seven years of decline, there was significant growth in the Middle Eastern woolen fabric market, when its value increased by 9.6% to $X. In general, consumption, however, saw a perceptible descent. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Woolen Fabric Production in the Middle East

In value terms, woolen fabric production amounted to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced decline. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Woolen Fabric Exports

Exports in the Middle East

For the ninth consecutive year, the Middle East recorded decline in shipments abroad of woven woolen fabrics, which decreased by -22.9% to X square meters in 2021. Over the period under review, exports recorded a abrupt decline. The smallest decline of -1.2% was in 2013. Over the period under review, the exports reached the maximum at X square meters in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, woolen fabric exports reduced notably to $X in 2021. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 3.2%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Turkey dominates exports structure, accounting for X square meters, which was approx. 86% of total exports in 2021. It was distantly followed by the United Arab Emirates (X square meters), constituting an 8.5% share of total exports. The following exporters - Syrian Arab Republic (X square meters) and the United Arab Emirates (X square meters) - together made up 12% of total exports.

From 2012 to 2021, average annual rates of growth with regard to woolen fabric exports from Turkey stood at -17.6%. At the same time, Syrian Arab Republic (+24.5%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +24.5% from 2012-2021. The United Arab Emirates experienced a relatively flat trend pattern. The United Arab Emirates (+6.8 p.p.) and Syrian Arab Republic (+3 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -10.1% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest woolen fabric supplier in the Middle East, comprising 97% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.7% share of total exports.

In Turkey, woolen fabric exports plunged by an average annual rate of -18.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-8.5% per year) and Syrian Arab Republic (-0.9% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per square meter, approximately mirroring the previous year. In general, the export price showed a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the export price increased by 10%. Over the period under review, the export prices reached the maximum at $X per square meter in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per square meter), while Syrian Arab Republic ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-1.5%), while the other leaders experienced a decline in the export price figures.

Woolen Fabric Imports

Imports in the Middle East

In 2021, approx. X square meters of woven woolen fabrics were imported in the Middle East; falling by -8.5% compared with the year before. In general, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2017 when imports increased by 7.1% against the previous year. Over the period under review, imports attained the peak figure at X square meters in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, woolen fabric imports expanded to $X in 2021. Overall, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 12%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Turkey dominates imports structure, finishing at X square meters, which was near 67% of total imports in 2021. The United Arab Emirates (X square meters) held a 9.8% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (5.2%) and Saudi Arabia (4.2%). Jordan (X square meters), Saudi Arabia (X square meters), Iran (X square meters), Lebanon (X square meters) and Kuwait (X square meters) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to woolen fabric imports into Turkey stood at -10.3%. At the same time, Iraq (+5.0%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +5.0% from 2012-2021. By contrast, Kuwait (-4.9%), the United Arab Emirates (-6.0%), Jordan (-6.6%), Iran (-9.1%), Saudi Arabia (-15.7%) and Lebanon (-16.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Iraq and the United Arab Emirates increased by +3.9 and +2.9 percentage points, respectively. Saudi Arabia (-3.7 p.p.) and Turkey (-4.9 p.p.) saw their shares reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported woven woolen fabrics in the Middle East, comprising 67% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.2% share of total imports. It was followed by Saudi Arabia, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at -6.9%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-5.8% per year) and Saudi Arabia (-5.1% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per square meter, with an increase of 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2015 when the import price increased by 16% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Saudi Arabia ($X per square meter), while Lebanon ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+12.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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