Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait - 2022
Contents:
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait (CIF) - 2022
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait (FOB) - 2022
- Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait
- Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait (CIF) - 2022
The average import price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $62 per unit in 2022, jumping by 29% against the previous year. Overall, import price indicated a resilient increase from 2013 to 2022: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 38% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($63 per unit), while the price for Taiwan (Chinese) ($31 per unit) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by India (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait (FOB) - 2022
The average export price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $54 per unit in 2022, picking up by 99% against the previous year. Over the period under review, the export price saw a noticeable expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 362% against the previous year. As a result, the export price attained the peak level of $75 per unit. From 2019 to 2022, the average export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Qatar.
From 2012 to 2022, the rate of growth in terms of prices for Qatar amounted to +15.6% per year.
Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait
Imports of refrigerating or freezing equipment; parts thereof, other than furniture into Kuwait dropped to 264K units in 2022, which is down by -9% compared with the previous year's figure. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +6.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 71% against the previous year. As a result, imports reached the peak of 290K units, and then contracted in the following year.
In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture soared to $16M in 2022. In general, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +14.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.2% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 58% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
| Import of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.7 | 3.8 | 6.5 | 9.9 | 28.2% |
| Bahrain | 0.1 | 0.2 | 1.5 | 1.2 | 128.9% |
| Italy | 1.6 | 1.6 | 1.9 | 1.2 | -9.1% |
| Poland | N/A | 0.1 | 0.7 | 0.7 | 164.6% |
| France | 0.5 | 0.5 | 0.4 | 0.6 | 6.3% |
| Turkey | 0.2 | 0.1 | 0.4 | 0.5 | 35.7% |
| Egypt | 0.4 | 0.4 | 0.7 | 0.4 | 0.0% |
| Taiwan (Chinese) | 0.1 | N/A | 0.2 | 0.3 | 44.2% |
| United States | 1.1 | 0.9 | 0.3 | 0.2 | -43.3% |
| Others | 2.4 | 1.2 | 1.5 | 1.3 | -18.5% |
| Total | 11.0 | 8.8 | 13.9 | 16.3 | 14.0% |
Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Kuwait in 2022:
- China (158.1K units)
- Bahrain (19.9K units)
- Italy (18.6K units)
- Poland (10.9K units)
- France (9.5K units)
- Taiwan (Chinese) (8.4K units)
- Turkey (8.3K units)
- Egypt (7.1K units)
- United States (2.5K units)
Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait
In 2022, exports of refrigerating or freezing equipment; parts thereof, other than furniture from Kuwait amounted to 1.6K units, picking up by 11% against the previous year. Overall, exports, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2020 with an increase of 373% against the previous year. As a result, the exports attained the peak of 8.7K units. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture surged to $85K in 2022. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 549% against the previous year. As a result, the exports reached the peak of $267K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Qatar | 15.7 | 239 | N/A | 85.1 | 75.7% |
| Uganda | N/A | N/A | 2.3 | N/A | 0% |
| India | N/A | N/A | 30.6 | N/A | 0% |
| Oman | N/A | 23.6 | N/A | N/A | 0% |
| Bahrain | 21.8 | N/A | N/A | N/A | 0% |
| Others | 3.7 | 5.1 | 5.9 | N/A | 26.3% |
| Total | 41.2 | 267 | 38.7 | 85.1 | 27.4% |
Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Kuwait in 2022:
- Qatar (1.6K units)
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