Saudi Arabia: Knitted Fabric Market 2024

Knitted Fabric Market Size in Saudi Arabia

In 2021, the Saudi knitted fabric market was finally on the rise to reach $X after three years of decline. In general, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -24.0% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Knitted Fabric Production in Saudi Arabia

In value terms, knitted fabric production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a mild setback. The most prominent rate of growth was recorded in 2015 with an increase of 108% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Knitted Fabric Exports

Exports from Saudi Arabia

After two years of decline, shipments abroad of knitted or crocheted fabrics increased by 421% to X tons in 2021. In general, exports enjoyed prominent growth. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, knitted fabric exports soared to $X in 2021. Overall, exports saw a prominent expansion. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Yemen (X tons), Oman (X tons) and the United Arab Emirates (X tons) were the main destinations of knitted fabric exports from Saudi Arabia.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +89.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Oman ($X), Kuwait ($X) and the United Arab Emirates ($X) were the largest markets for knitted fabric exported from Saudi Arabia worldwide.

Among the main countries of destination, Oman, with a CAGR of +72.0%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average knitted fabric export price amounted to $X per ton, waning by -24.2% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 57% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Yemen ($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 Qatar (+71.2%), while the prices for the other major destinations experienced mixed trend patterns.

Knitted Fabric Imports

Imports into Saudi Arabia

In 2021, imports of knitted or crocheted fabrics into Saudi Arabia surged to X tons, rising by 31% compared with the year before. In general, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2016 with an increase of 53% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, knitted fabric imports skyrocketed to $X in 2021. Over the period under review, imports posted a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 44%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) was the main supplier of knitted fabric to Saudi Arabia, with a 92% share of total imports. Moreover, knitted fabric imports from China exceeded the figures recorded by the second-largest supplier, Syrian Arab Republic (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +20.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Syrian Arab Republic (+58.5% per year) and South Korea (+2.8% per year).

In value terms, China ($X) constituted the largest supplier of knitted or crocheted fabrics to Saudi Arabia, comprising 74% of total imports. The second position in the ranking was taken by South Korea ($X), with a 3.2% share of total imports. It was followed by Syrian Arab Republic, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+4.3% per year) and Syrian Arab Republic (+48.8% per year).

Import Prices by Country

The average knitted fabric import price stood at $X per ton in 2021, with a decrease of -8.1% against the previous year. Over the period under review, the import price saw a noticeable slump. The pace of growth appeared the most rapid in 2017 when the average import price increased by 11%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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