From January to October 2021, the bilateral import and export volume of goods between China and Kuwait was US$1,801,049,000, an increase of US$6,364,983,800 compared with the same period in 2020, a year-on-year increase of 55.2%.
From January to October 2021, the total value of China's exports to Kuwait was US$3,494,061,100, an increase of US$683,958,100 compared with the same period in 2020, a year-on-year increase of 26%; During the same period, it increased by 5,681,024,700 US dollars, a year-on-year increase of 64.4%.
Judging from the data, the economic and trade exchanges between China and Kuwait have maintained a strong growth. Since the Iraq War, Kuwait's foreign policy has accelerated to transform into domestic economic construction. As a major global manufacturing country, China produces high-quality and inexpensive products, which naturally attracts the attention of Kuwait, and a large number of Kuwaiti businessmen import various commodities from China. Crane products made in China have gradually opened up the Kuwait market. In 2021, Dongqi Cần Cẩu has reached a total of 7 crane cooperation project orders with Kuwaiti customers, 5 of which are overhead crane orders. In order to better understand the Kuwait market, this article will start with the import and export data of Kuwait overhead cranes and analyze the development and changes of Kuwait's crane market in 2022
Before we start discussing the aerial crane market in Kuwait, we have a few small questions that need to be answered first. Let’s take a look
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The Kuwait Overhead Crane Market fell -X% to $X in 2020, the third consecutive year of decline after three years of growth. Overall, consumption records have decreased significantly. The most significant growth rate occurred in 2016, when the market capitalization increased by X% year-on-year. Overhead crane consumption peaked at $X in 2017; however, from 2018 to 2020, consumption failed to regain momentum.
In value terms, the production of overhead cranes in 2020 is estimated at X USD at export prices. During the period under review, production continued to grow significantly. The growth rate was most pronounced in 2010, when production increased by X% year-on-year. During the period under review, production peaked in 2020 and will likely continue to grow in the near future.
In 2020, overseas shipments of fixed-support overhead cranes fell -X% to X units, falling for the second consecutive year after nine consecutive years of growth. Overall, however, exports have seen strong growth. The fastest growth rate in 2012, an increase of X% year-on-year. Exports peaked at X units in 2018; however, from 2019 to 2020, exports failed to regain momentum.
In value terms, 2020 overhead crane exports dropped significantly to $X. However, during the period under review, exports grew significantly. The growth rate was most pronounced in 2012, when exports increased by X% over the previous year. During the period under review, exports hit an all-time high of $X in 2018; however, from 2019 to 2020, exports were slightly lower.
Saudi Arabia (X units) and India (X units) are the main destinations for Kuwait's overhead crane exports.
From 2007 to 2020, the largest increase was in Saudi Arabia.
In value terms, India ($X) and Saudi Arabia ($X) appear to be the largest markets for Kuwait's globally exported overhead cranes. In terms of major destination countries, Saudi Arabia experienced the highest growth in export value during the period under review.
Overseas purchases of fixed-support overhead cranes fell -X% to X units in 2020, falling for the third consecutive year after two years of growth. Overall, imports fell sharply. The growth rate was most pronounced in 2016, with a year-on-year increase of X%. Imports peaked at X units in 2017; however, from 2018 to 2020, imports have remained low.
In value terms, bridge crane imports contracted rapidly to $X in 2020. Overall, imports fell sharply. The most significant growth rate occurred in 2016, with a year-on-year increase of X%. As a result, imports peaked at X dollars. Import growth failed to regain momentum between 2017 and 2020.
In 2020, Germany (X units) was the largest supplier of overhead cranes in Kuwait, accounting for X% of total imports. In addition, overhead cranes imported from Germany were three times higher than the number recorded by the second largest supplier, India (X units). China (X units) ranked third with X% of total imports. From 2007 to 2020, the average annual growth rate of sales in Germany was -X%. The average annual growth rates of imports from the remaining suppliers are as follows: India (-X% per annum) and China (X% per annum).
Germany ($X) is the largest supplier of overhead cranes to Kuwait by value, representing X% of total imports. In second place is Malaysia ($X) with X% of total imports. It is followed by Spain with an X% share.
From 2007 to 2020, the average annual value growth in Germany totaled -X%. The average annual growth rates of imports for the remaining suppliers are as follows: Malaysia (-X% per annum) and Spain (+X% per annum).
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