Middle East: Woolen Fabric Market 2024

Woolen Fabric Market Size in the Middle East

In 2023, the Middle Eastern woolen fabric market increased by X% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Woolen Fabric Production in the Middle East

In value terms, woolen fabric production fell to $X in 2023 estimated in export price. Overall, production saw a mild decrease. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Woolen Fabric Exports

Exports in the Middle East

In 2023, shipments abroad of woven woolen fabrics increased by X% to X square meters, rising for the second year in a row after five years of decline. Overall, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. The volume of export peaked at X square meters in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, woolen fabric exports surged to $X in 2023. Over the period under review, exports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2022 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Turkey prevails in exports structure, resulting at X square meters, which was approx. X% of total exports in 2023. The United Arab Emirates (X square meters) took a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to woolen fabric exports from Turkey stood at X%. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Turkey (X p.p.) displayed negative dynamics.

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

In Turkey, woolen fabric exports shrank by an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per square meter, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($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 Turkey (X%).

Woolen Fabric Imports

Imports in the Middle East

In 2023, approx. X square meters of woven woolen fabrics were imported in the Middle East; declining by X% against 2022. Over the period under review, imports saw a pronounced decrease. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. The volume of import peaked at X square meters in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, woolen fabric imports reached $X in 2023. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

Turkey dominates imports structure, amounting to X square meters, which was approx. X% of total imports in 2023. The United Arab Emirates (X square meters) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Jordan (X%). The following importers - Kuwait (X square meters) and Iraq (X square meters) - together made up X% of total imports.

Imports into Turkey decreased at an average annual rate of X% from 2012 to 2023. At the same time, Iraq (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. Jordan experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%) and Kuwait (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and Jordan (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported woven woolen fabrics in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Jordan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Jordan (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per square meter in 2023, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2023 and is expected to retain growth in years to come.

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 Kuwait ($X per square meter), while Iraq ($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 Turkey (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform