GCC: Carpet Market 2024

Carpet Market Size in GCC

The GCC carpet market contracted sharply to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Carpet Production in GCC

In value terms, carpet production expanded to $X in 2022 estimated in export price. The total production indicated a mild 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Carpet Exports

Exports in GCC

For the third consecutive year, GCC recorded growth in overseas shipments of carpets and other textile floor coverings, which increased by X% to X square meters in 2022. Total exports indicated a buoyant 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. Based on 2022 figures, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, carpet exports skyrocketed to $X in 2022. Total exports indicated a moderate expansion 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, the United Arab Emirates (X square meters) represented the major exporter of carpets and other textile floor coverings, committing X% of total exports. It was distantly followed by Saudi Arabia (X square meters), generating a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the carpets and other textile floor coverings exports, with a CAGR of X% from 2012 to 2022. Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest carpet supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per square meter, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible setback. Over the period under review, the export prices attained the peak figure at $X per square meter in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per square meter), while the United Arab Emirates amounted to $X per square meter.

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

Carpet Imports

Imports in GCC

Carpet imports declined to X square meters in 2022, with a decrease of X% compared with the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X square meters in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, carpet imports reduced to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia was the major importing country with an import of around X square meters, which finished at X% of total imports. The United Arab Emirates (X square meters) took the second position in the ranking, followed by Kuwait (X square meters). All these countries together held near X% share of total imports. The following importers - Qatar (X square meters), Oman (X square meters) and Bahrain (X square meters) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to carpet imports into Saudi Arabia stood at X%. At the same time, Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Bahrain and Qatar experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest carpet importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together comprising X% of total imports.

Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per square meter, picking up by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per square meter), while Saudi Arabia ($X per square meter) was amongst the lowest.

From 2012 to 2022, 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

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