MENA: Wood Tool Market 2024

Wood Tool Market Size in MENA

The MENA's wood tool market reduced to $X in 2022, approximately reflecting the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then reduced modestly in the following year.

Wood Tool Production in MENA

In value terms, wood tool production contracted to $X in 2022 estimated in export price. In general, production, however, saw a temperate increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Wood Tool Exports

Exports in MENA

In 2022, shipments abroad of tools of wood increased by X% to X tons, rising for the sixth year in a row after two years of decline. Overall, exports saw significant growth. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, wood tool exports surged to $X in 2022. In general, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Turkey was the main exporting country with an export of about X tons, which accounted for X% of total exports. It was distantly followed by the United Arab Emirates (X tons), making up a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%).

In value terms, Turkey ($X) remains the largest wood tool supplier in MENA, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a mild decline. The growth pace was the most rapid in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Wood Tool Imports

Imports in MENA

In 2022, after three years of growth, there was significant decline in purchases abroad of tools of wood, when their volume decreased by X% to X tons. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, wood tool imports contracted to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

Iraq represented the largest importing country with an import of about X tons, which accounted for X% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Turkey (X tons), Morocco (X tons), Egypt (X tons), Kuwait (X tons), Algeria (X tons) and Iran (X tons). All these countries together took near X% share of total imports.

Iraq was also the fastest-growing in terms of the tools of wood imports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%), Iran (X%), the United Arab Emirates (X%), Algeria (X%), Morocco (X%) and Turkey (X%) displayed positive paces of growth. By contrast, Egypt (X%) illustrated a downward trend over the same period. While the share of Iraq (X p.p.), Kuwait (X p.p.), the United Arab Emirates (X p.p.), Iran (X p.p.), Algeria (X p.p.) and Morocco (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (X p.p.) and Egypt (X p.p.) displayed negative dynamics.

In value terms, Iraq ($X) constitutes the largest market for imported tools of wood in MENA, comprising X% of total imports. The second position in the ranking was held by Egypt ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Iraq totaled X%. In the other countries, the average annual rates were as follows: Egypt (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, approximately reflecting the previous year. Import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood tool import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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