Saudi Arabia: Hand Tools Market 2024

Hand Tools Market Size in Saudi Arabia

After two years of growth, the Saudi hand tools market decreased by X% to $X in 2022. Over the period under review, consumption continues to indicate a slight decrease. Hand tools consumption peaked at $X in 2021, and then contracted significantly in the following year.

Hand Tools Production in Saudi Arabia

In value terms, hand tools production fell to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

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Hand Tools Exports

Exports from Saudi Arabia

In 2022, after two years of growth, there was significant decline in shipments abroad of hand tools, when their volume decreased by X% to X tons. In general, exports, however, saw notable growth. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined markedly in the following year.

In value terms, hand tools exports dropped notably to $X in 2022. Overall, exports, however, recorded perceptible growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then declined notably in the following year.

Exports by Country

Kuwait (X tons), the United Arab Emirates (X tons) and Bahrain (X tons) were the main destinations of hand tools exports from Saudi Arabia, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hand tools exported from Saudi Arabia were the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X), together accounting for X% of total exports.

In terms of the main countries of destination, Kuwait, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hand tools export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then reduced markedly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Saudi Arabia

In 2021, supplies from abroad of hand tools increased by X% to X tons, rising for the third consecutive year after four years of decline. In general, imports, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, hand tools imports soared to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hand tools to Saudi Arabia, accounting for a X% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), sevenfold. The third position in this ranking was held by the UK (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the UK (X% per year).

In value terms, China ($X) constituted the largest supplier of hand tools to Saudi Arabia, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with an X% share of total imports. It was followed by Italy, with an X% share.

From 2012 to 2021, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Italy (X% per year).

Import Prices by Country

The average hand tools import price stood at $X per ton in 2021, increasing by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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