GCC: Fig Market 2024

Fig Market Size in GCC

The GCC fig market contracted modestly to $X in 2022, waning by -2.5% against the previous year. In general, consumption, however, continues to indicate a prominent expansion. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Fig Production in GCC

In value terms, fig production expanded sharply to $X in 2022 estimated in export price. Overall, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 481% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Saudi Arabia (X tons) remains the largest fig producing country in GCC, comprising approx. 84% of total volume. Moreover, fig production in Saudi Arabia exceeded the figures recorded by the second-largest producer, the United Arab Emirates (X tons), fivefold.

In Saudi Arabia, fig production increased at an average annual rate of +6.3% over the period from 2012-2022.

The average fig yield totaled X tons per ha in 2022, with an increase of 11% on 2021. Over the period under review, the yield showed prominent growth. The most prominent rate of growth was recorded in 2018 when the yield increased by 892%. Over the period under review, the fig yield reached the maximum level at X tons per ha in 2020; however, from 2021 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The fig harvested area stood at X ha in 2022, therefore, remained relatively stable against the year before. Overall, the harvested area showed a pronounced setback. The pace of growth appeared the most rapid in 2018 with an increase of 23% against the previous year. Over the period under review, the harvested area dedicated to fig production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Fig Exports

Exports in GCC

In 2022, the amount of figs exported in GCC dropped to X tons, flattening at 2021. Overall, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 265% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, fig exports expanded modestly to $X in 2022. In general, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2016 when exports increased by 176%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia dominates exports structure, finishing at X tons, which was near 95% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a 4.7% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the figs exports, with a CAGR of +13.1% from 2012 to 2022. At the same time, the United Arab Emirates (+10.3%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest fig supplier in GCC, comprising 84% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia totaled +9.6%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, surging by 3.7% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2014 an increase of 49% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.2%).

Fig Imports

Imports in GCC

Fig imports contracted to X tons in 2022, shrinking by -6.5% compared with the previous year. Over the period under review, imports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2013 when imports increased by 105%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, fig imports contracted to $X in 2022. Overall, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 94%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Qatar (X tons) and Saudi Arabia (X tons) represented the key importers of figs in 2022, resulting at approx. 31% and 30% of total imports, respectively. The United Arab Emirates (X tons) took the next position in the ranking, followed by Kuwait (X tons). All these countries together took near 36% share of total imports. Oman (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Qatar (with a CAGR of +32.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, together comprising 88% of total imports.

Qatar, with a CAGR of +30.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, which is down by -2.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2014 when the import price increased by 27% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform