Kuwait: Tufted Carpet Market 2024

Tufted Carpet Market Size in Kuwait

After three years of growth, the Kuwaiti tufted carpet market decreased by -8.3% to $X in 2022. Overall, consumption, however, saw buoyant growth. Tufted carpet consumption peaked at $X in 2021, and then dropped in the following year.

Tufted Carpet Exports

Exports from Kuwait

In 2022, shipments abroad of tufted carpets and other tufted textile floor coverings was finally on the rise to reach X square meters after two years of decline. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 143% against the previous year. The exports peaked at X square meters in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, tufted carpet exports expanded notably to $X in 2022. In general, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 111%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X square meters) was the main destination for tufted carpet exports from Kuwait, with a 59% share of total exports. Moreover, tufted carpet exports to Saudi Arabia exceeded the volume sent to the second major destination, Qatar (X square meters), fourfold. The third position in this ranking was held by Oman (X square meters), with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia stood at +24.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+92.7% per year) and Oman (+99.7% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for tufted carpets and other tufted textile floor coverings exports from Kuwait, comprising 62% of total exports. The second position in the ranking was held by Qatar ($X), with an 18% share of total exports. It was followed by Egypt, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia totaled +19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+52.2% per year) and Egypt (+44.6% per year).

Export Prices by Country

In 2022, the average tufted carpet export price amounted to $X per square meter, flattening at the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 23% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per square meter), while the average price for exports to Oman ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Tufted Carpet Imports

Imports into Kuwait

In 2022, purchases abroad of tufted carpets and other tufted textile floor coverings decreased by -3.6% to X square meters for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2014 with an increase of 51%. Over the period under review, imports attained the peak figure at X square meters in 2021, and then reduced in the following year.

In value terms, tufted carpet imports dropped to $X in 2022. In general, imports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by 34%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Turkey (X square meters) constituted the largest supplier of tufted carpet to Kuwait, accounting for a 51% share of total imports. Moreover, tufted carpet imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X square meters), twofold. The third position in this ranking was held by the United Arab Emirates (X square meters), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.3% per year) and the United Arab Emirates (+20.2% per year).

In value terms, Turkey ($X), China ($X) and the United Arab Emirates ($X) were the largest tufted carpet suppliers to Kuwait, together comprising 71% of total imports. Belgium, the United States, Iran and Saudi Arabia lagged somewhat behind, together accounting for a further 11%.

Iran, with a CAGR of +25.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, falling by -5.8% against the previous year. Overall, the import price saw a pronounced decline. The growth pace was the most rapid in 2021 an increase of 15% against the previous year. Over the period under review, average import prices attained the peak figure at $X per square meter in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for Turkey ($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 Belgium (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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