Saudi Arabia: Woolen Fabric Market 2024

Woolen Fabric Market Size in Saudi Arabia

The Saudi woolen fabric market shrank modestly to $X in 2021, reducing by -4.4% against the previous year. Overall, consumption recorded a pronounced decrease. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Woolen Fabric Production in Saudi Arabia

In value terms, woolen fabric production fell modestly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 72% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Woolen Fabric Exports

Exports from Saudi Arabia

In 2021, the amount of woven woolen fabrics exported from Saudi Arabia surged to X square meters, jumping by 281% compared with the previous year's figure. Overall, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by 561%. Over the period under review, the exports reached the peak figure at X square meters in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, woolen fabric exports skyrocketed to $X in 2021. Over the period under review, exports showed strong growth. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Egypt (X square meters) was the main destination for woolen fabric exports from Saudi Arabia, accounting for a 72% share of total exports. Moreover, woolen fabric exports to Egypt exceeded the volume sent to the second major destination, the United Arab Emirates (X square meters), threefold.

From 2012 to 2021, the average annual growth rate of volume to Egypt stood at +39.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+19.9% per year) and Bahrain (+4.8% per year).

In value terms, Egypt ($X) remains the key foreign market for woven woolen fabrics exports from Saudi Arabia, comprising 70% of total exports. The second position in the ranking was held by Bahrain ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Egypt totaled +46.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+13.7% per year) and the United Arab Emirates (+0.9% per year).

Export Prices by Country

In 2021, the average woolen fabric export price amounted to $X per square meter, picking up by 50% against the previous year. In general, the export price continues to indicate a slight expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per square meter), while the average price for exports to the United Arab Emirates ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Fabric Imports

Imports into Saudi Arabia

In 2021, approx. X square meters of woven woolen fabrics were imported into Saudi Arabia; which is down by -64.6% on the previous year's figure. Overall, imports showed a precipitous decrease. The most prominent rate of growth was recorded in 2020 with an increase of 171% against the previous year. Imports peaked at X square meters in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, woolen fabric imports dropped rapidly to $X in 2021. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Italy (X square meters) constituted the largest woolen fabric supplier to Saudi Arabia, accounting for a 73% share of total imports. Moreover, woolen fabric imports from Italy exceeded the figures recorded by the second-largest supplier, the UK (X square meters), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy was relatively modest.

In value terms, Italy ($X) constituted the largest supplier of woven woolen fabrics to Saudi Arabia, comprising 75% of total imports. The second position in the ranking was held by the UK ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Italy stood at -1.4%.

Import Prices by Country

The average woolen fabric import price stood at $X per square meter in 2021, rising by 102% against the previous year. In general, the import price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 an increase of 316% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per square meter), while the price for Italy totaled $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+188.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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