United Arab Emirates: Knitted Fabric Market 2024

Knitted Fabric Market Size in the United Arab Emirates

The knitted fabric market in the United Arab Emirates soared to $X in 2021, jumping by 64% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a noticeable decline. Knitted fabric consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Knitted Fabric Exports

Exports from the United Arab Emirates

In 2021, overseas shipments of knitted or crocheted fabrics increased by 40% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 79%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, knitted fabric exports rose rapidly to $X in 2021. Overall, exports, however, saw a slight slump. The most prominent rate of growth was recorded in 2017 when exports increased by 66%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iraq (X tons) was the main destination for knitted fabric exports from the United Arab Emirates, with a 598% share of total exports. Moreover, knitted fabric exports to Iraq exceeded the volume sent to the second major destination, Iran (X tons), twofold. Jordan (X tons) ranked third in terms of total exports with an 80% share.

From 2012 to 2021, the average annual growth rate of volume to Iraq was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+176.6% per year) and Jordan (+112.3% per year).

In value terms, Iraq ($X), Iran ($X) and Jordan ($X) constituted the largest markets for knitted fabric exported from the United Arab Emirates worldwide.

Iran, with a CAGR of +152.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average knitted fabric export price stood at $X per ton in 2021, which is down by -24% against the previous year. Over the period under review, the export price showed a mild reduction. The growth pace was the most rapid in 2015 when the average export price increased by 49%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Tunisia ($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 Oman (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into the United Arab Emirates

In 2021, approx. X tons of knitted or crocheted fabrics were imported into the United Arab Emirates; rising by 54% on the previous year's figure. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, knitted fabric imports surged to $X in 2021. Overall, imports, however, showed a pronounced descent. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest knitted fabric supplier to the United Arab Emirates, accounting for a 66% share of total imports. Moreover, knitted fabric imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was held by Sri Lanka (X tons), with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-19.5% per year) and Sri Lanka (+10.8% per year).

In value terms, China ($X) constituted the largest supplier of knitted or crocheted fabrics to the United Arab Emirates, comprising 37% of total imports. The second position in the ranking was taken by South Korea ($X), with a 3.4% share of total imports. It was followed by Taiwan (Chinese), with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-24.7% per year) and Taiwan (Chinese) (-6.8% per year).

Import Prices by Country

In 2021, the average knitted fabric import price amounted to $X per ton, picking up by 11% against the previous year. In general, the import price, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2014 an increase of 39% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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 Taiwan (Chinese) ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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