Middle East: Festive Articles Market 2024

Festive Articles Market Size in the Middle East

The Middle Eastern festive articles market dropped to $X in 2022, waning by -1.5% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.0% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Festive Articles Production in the Middle East

In value terms, festive articles production amounted to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 50% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Festive Articles Exports

Exports in the Middle East

After two years of growth, shipments abroad of festive or carnival articles decreased by -15.8% to X tons in 2022. Over the period under review, exports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2017 when exports increased by 85% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced markedly in the following year.

In value terms, festive articles exports dropped to $X in 2022. Overall, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 54% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

Saudi Arabia was the key exporter of festive or carnival articles in the Middle East, with the volume of exports amounting to X tons, which was near 71% of total exports in 2022. Turkey (X tons) ranks second in terms of the total exports with a 12% share, followed by the United Arab Emirates (7.7%) and Oman (5.5%). Kuwait (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia increased at an average annual rate of +33.3% from 2012 to 2022. At the same time, Oman (+57.4%), Turkey (+3.9%) and the United Arab Emirates (+1.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +57.4% from 2012-2022. By contrast, Kuwait (-4.0%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+55 p.p.) and Oman (+5.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kuwait (-9.1 p.p.), the United Arab Emirates (-18.5 p.p.) and Turkey (-20.1 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, with a combined 87% share of total exports. Oman and Kuwait lagged somewhat behind, together accounting for a further 5.4%.

Among the main exporting countries, Oman, with a CAGR of +43.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, jumping by 17% against the previous year. Over the period under review, the export price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when the export price increased by 27%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.7%), while the other leaders experienced more modest paces of growth.

Festive Articles Imports

Imports in the Middle East

In 2022, approx. X tons of festive or carnival articles were imported in the Middle East; which is down by -4.5% compared with 2021. In general, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 53% against the previous year. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, festive articles imports contracted to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.7% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 35%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Saudi Arabia was the largest importer of festive or carnival articles in the Middle East, with the volume of imports recording X tons, which was near 48% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), Iraq (X tons), Israel (X tons), Iran (X tons) and Yemen (X tons), together creating a 42% share of total imports. Bahrain (X tons) held a relatively small share of total imports.

Imports into Saudi Arabia increased at an average annual rate of +7.3% from 2012 to 2022. At the same time, Yemen (+45.7%), Iraq (+24.6%), Iran (+18.6%), Bahrain (+11.0%), Israel (+7.3%) and the United Arab Emirates (+5.3%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +45.7% from 2012-2022. Iraq (+7.1 p.p.), Yemen (+4.7 p.p.) and Iran (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia and the United Arab Emirates saw its share reduced by -2.8% and -4.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Israel ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 73% of total imports. Iraq, Iran, Yemen and Bahrain lagged somewhat behind, together comprising a further 17%.

Among the main importing countries, Yemen, with a CAGR of +46.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, falling by -3.1% against the previous year. Over the period under review, the import price recorded a noticeable descent. The most prominent rate of growth was recorded in 2014 when the import price increased by 21%. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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