Kuwait’s fiber optic cable market shrinks in 2024 despite export gains
Kuwait’s optical fiber cables market faced a downturn in 2024, shrinking by a notable percentage for the first time since 2020. While the country remains a key consumer in the MENA region, its trade activity has shown mixed trends—with exports rising sharply in value but imports declining for the sixth year in a row.
The production of optical fiber cables in Kuwait saw a slight decline in 2024, dropping to an export value of $X. Despite this, the value of exports surged dramatically, reaching $X by year’s end. Hong Kong SAR emerged as the top destination for Kuwaiti exports, absorbing roughly X% of the total.
On the import side, Kuwait’s overseas purchases fell by X% to X tons, continuing a steady decline since 2018. Oman remained the largest supplier, covering X% of total imports. The average import price, however, rose by X%, hitting $X per ton in 2024. Domestic consumption of optical fiber cables has stayed relatively stable over the past decade, showing little fluctuation from 2015 to 2024. Yet the overall market value contracted in 2024, reflecting broader regional shifts in demand and supply dynamics. Kuwait’s export volumes also reversed a five-year downward trend, climbing by X% to X kg. Still, the country’s role in global trade remains limited, with no major Kuwaiti firms prominently featured in regional export-import data.
The 2024 figures highlight contrasting movements in Kuwait’s optical fiber cables sector. Exports grew in both volume and value, while imports and production faced declines. With consumption holding steady, the market’s future will likely depend on regional demand and Kuwait’s ability to strengthen trade partnerships.
