GCC: Woolen Fabric Market 2024

Woolen Fabric Market Size in GCC

The GCC woolen fabric market totaled $X in 2023, rising by X% against the previous year. Overall, consumption, however, saw a perceptible decline. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Woolen Fabric Production in GCC

In value terms, woolen fabric production rose modestly to $X in 2023 estimated in export price. The total production indicated modest growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of production peaked at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Woolen Fabric Exports

Exports in GCC

In 2023, overseas shipments of woven woolen fabrics decreased by X% to X square meters for the first time since 2020, thus ending a two-year rising trend. In general, exports, however, showed a tangible expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of export peaked at X square meters in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, woolen fabric exports skyrocketed to $X in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the largest exporting country with an export of about X square meters, which resulted at X% of total exports. It was distantly followed by Qatar (X square meters), making up a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the woven woolen fabrics exports, with a CAGR of X% from 2012 to 2023. Qatar experienced a relatively flat trend pattern. From 2012 to 2023, the share of Qatar increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) and Qatar ($X) constituted the countries with the highest levels of exports in 2023.

Qatar, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2023, the export price in GCC amounted to $X per square meter, surging by X% against the previous year. In general, the export price, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2016 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Qatar ($X per square meter), while the United Arab Emirates totaled $X per square meter.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Woolen Fabric Imports

Imports in GCC

In 2023, the amount of woven woolen fabrics imported in GCC expanded modestly to X square meters, increasing by X% against the previous year. Overall, imports, however, saw a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of import peaked at X square meters in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, woolen fabric imports dropped slightly to $X in 2023. Over the period under review, imports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the main importer of woven woolen fabrics in GCC, with the volume of imports resulting at X square meters, which was approx. X% of total imports in 2023. It was distantly followed by Kuwait (X square meters) and Qatar (X square meters), together comprising a X% share of total imports. Saudi Arabia (X square meters) and Oman (X square meters) followed a long way behind the leaders.

Imports into the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2023. At the same time, Qatar (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Oman (X%), Kuwait (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Kuwait (X p.p.) and Qatar (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Qatar ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

In terms of the main importing countries, Qatar, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in GCC amounted to $X per square meter, shrinking by X% against the previous year. Import price indicated perceptible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, woolen fabric import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of import peaked at $X per square meter in 2022, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Saudi Arabia ($X per square meter), while Oman ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform