Saudi Arabia: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in Saudi Arabia

After five years of decline, the Saudi jute and jute-like fibers market increased by 76% to $X in 2022. Over the period under review, consumption, however, continues to indicate a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Jute And Jute-Like Fibers in Saudi Arabia

In value terms, jute and jute-like fibers production skyrocketed to $X in 2022 estimated in export price. In general, production enjoyed significant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 164,912,830%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

In 2022, the average yield of jute and jute-like fibers in Saudi Arabia stood at less than X kg per ha, approximately mirroring 2021. Over the period under review, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the jute and jute-like fibers harvested area in Saudi Arabia stood at less than X ha, remaining stable against the previous year. Over the period under review, the harvested area saw a relatively flat trend pattern.

Exports of Jute And Jute-Like Fibers

Exports from Saudi Arabia

Jute and jute-like fibers exports from Saudi Arabia surged to X tons in 2022, growing by 45% compared with the previous year. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2013 with an increase of 13,206% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, jute and jute-like fibers exports surged to $X in 2022. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 38,896%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for jute and jute-like fibers exports from Saudi Arabia, accounting for a 57% share of total exports. Moreover, jute and jute-like fibers exports to Sweden exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), fivefold.

From 2013 to 2021, the average annual rate of growth in terms of volume to Sweden was relatively modest.

From 2013 to 2021, the average annual rate of growth in terms of value to Sweden was relatively modest.

Export Prices by Country

The average jute and jute-like fibers export price stood at $X per ton in 2021, with a decrease of -5.1% against the previous year. Overall, the export price, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 2,093%. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the United Arab Emirates totaled $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+690.0%).

Imports of Jute And Jute-Like Fibers

Imports into Saudi Arabia

In 2022, the amount of jute and jute-like fibers imported into Saudi Arabia stood at X tons, approximately reflecting 2021. Overall, imports continue to indicate a sharp curtailment. The growth pace was the most rapid in 2014 with an increase of 9.9%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, jute and jute-like fibers imports stood at $X in 2022. Over the period under review, imports saw a sharp curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 38% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Tanzania (X tons) was the main jute and jute-like fibers supplier to Saudi Arabia, with a 93% share of total imports. Moreover, jute and jute-like fibers imports from Tanzania exceeded the figures recorded by the second-largest supplier, Egypt (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Tanzania amounted to -9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (0.0% per year) and India (-68.3% per year).

In value terms, Tanzania ($X) constituted the largest supplier of jute and jute-like fibers to Saudi Arabia, comprising 89% of total imports. The second position in the ranking was held by Egypt ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Tanzania stood at -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (0.0% per year) and India (-63.5% per year).

Import Prices by Country

In 2022, the average jute and jute-like fibers import price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price showed a strong increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by 29% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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