GCC: Fishing Rod Market 2024

Fishing Rod Exports

Exports in GCC

In 2021, approx. X tons of fishing rods and other line fishing tackle were exported in GCC; waning by -15% compared with the year before. Over the period under review, exports saw a pronounced decline. The growth pace was the most rapid in 2017 when exports increased by 174%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, fishing rod exports skyrocketed to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 244%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the main exporter of fishing rods and other line fishing tackle in GCC, with the volume of exports reaching X tons, which was approx. 80% of total exports in 2021. It was distantly followed by Oman (X tons), mixing up a 14% share of total exports. The following exporters - Bahrain (X tons) and Kuwait (X tons) - each reached a 6.3% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to fishing rod exports from the United Arab Emirates stood at -5.0%. At the same time, Oman (+39.8%) and Bahrain (+20.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +39.8% from 2012-2021. By contrast, Kuwait (-11.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Oman and Bahrain increased by +13 and +2.8 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest fishing rod supplier in GCC, comprising 85% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 6.3% share of total exports. It was followed by Oman, with a 6% share.

In the United Arab Emirates, fishing rod exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bahrain (+26.9% per year) and Oman (+38.5% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, with an increase of 44% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Bahrain ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+7.1%), while the other leaders experienced more modest paces of growth.

Fishing Rod Imports

Imports in GCC

In 2021, the amount of fishing rods and other line fishing tackle imported in GCC soared to X tons, with an increase of 31% compared with 2020 figures. Overall, imports, however, saw a perceptible reduction. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, fishing rod imports skyrocketed to $X in 2021. Total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.8% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the key importer of fishing rods and other line fishing tackle, making up 59% of total imports. Oman (X tons) ranks second in terms of the total imports with a 17% share, followed by Kuwait (8.7%), Qatar (7.4%) and Saudi Arabia (5%). Bahrain (X tons) followed a long way behind the leaders.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of fishing rods and other line fishing tackle. At the same time, Bahrain (+14.9%), Kuwait (+14.2%), Qatar (+9.1%) and Oman (+7.4%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +14.9% from 2012-2021. By contrast, Saudi Arabia (-21.9%) illustrated a downward trend over the same period. Oman (+10 p.p.), the United Arab Emirates (+8.3 p.p.), Kuwait (+6.6 p.p.), Qatar (+4.7 p.p.) and Bahrain (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -32% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported fishing rods and other line fishing tackle in GCC, comprising 69% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 12% share of total imports. It was followed by Qatar, with a 9.1% share.

In the United Arab Emirates, fishing rod imports expanded at an average annual rate of +8.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+15.1% per year) and Qatar (+17.0% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, surging by 5% against the previous year. Import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fishing rod import price decreased by +0.5% against 2018 indices. The growth pace was the most rapid in 2016 an increase of 26%. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform