MENA: Wood Tool Market 2024

Wood Tool Market Size in MENA

The MENA's wood tool market expanded notably to $X in 2023, increasing by X% against the previous year. The total consumption indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Wood Tool Production in MENA

In value terms, wood tool production rose markedly to $X in 2023 estimated in export price. In general, production recorded buoyant growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Wood Tool Exports

Exports in MENA

In 2023, approx. X tons of tools of wood were exported in MENA; with a decrease of X% on the previous year's figure. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, wood tool exports shrank remarkably to $X in 2023. Total exports indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven 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 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then reduced sharply in the following year.

Exports by Country

Turkey represented the largest exporting country with an export of around X tons, which accounted for X% of total exports. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total exports. The following exporters - Iran (X tons), Egypt (X tons) and Palestine (X tons) - each resulted at a X% share of total exports.

Turkey was also the fastest-growing in terms of the tools of wood exports, with a CAGR of X% from 2012 to 2023. At the same time, Egypt (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Palestine experienced a relatively flat trend pattern. By contrast, Iran (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey and the United Arab Emirates increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest wood tool supplier in MENA, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Egypt, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Egypt (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, remaining stable against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 an increase of X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices stood at a somewhat lower figure.

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 Egypt ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iran (X%), while the other leaders experienced more modest paces of growth.

Wood Tool Imports

Imports in MENA

In 2023, overseas purchases of tools of wood decreased by X% to X tons, falling for the third consecutive year after two years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.

In value terms, wood tool imports declined to $X in 2023. Overall, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

Iraq represented the key importing country with an import of about X tons, which accounted for X% of total imports. Morocco (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons), Egypt (X tons), Turkey (X tons), Iran (X tons), Libya (X tons) and Tunisia (X tons). All these countries together took approx. X% share of total imports.

Iraq was also the fastest-growing in terms of the tools of wood imports, with a CAGR of X% from 2012 to 2023. At the same time, Iran (X%), Morocco (X%), Libya (X%), the United Arab Emirates (X%) and Egypt (X%) displayed positive paces of growth. By contrast, Tunisia (X%) and Turkey (X%) illustrated a downward trend over the same period. While the share of Iraq (X p.p.), Morocco (X p.p.), Iran (X p.p.) and Libya (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iraq ($X) constitutes the largest market for imported tools of wood in MENA, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Egypt, with a X% share.

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

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, the import price showed a prominent expansion. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

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 the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iraq (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform