Middle East: Market for Parts Of Apparatus Of Hs 2024

Market Size for Parts Of Apparatus Of Hs in the Middle East

The Middle Eastern market for parts of apparatus of hs soared to $X in 2021, jumping by 20% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Parts Of Apparatus Of Hs in the Middle East

In value terms, parts of apparatus of hs production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 40%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Parts Of Apparatus Of Hs

Exports in the Middle East

In 2021, the amount of parts of apparatus of hs exported in the Middle East dropped to X units, declining by -7.3% against the previous year. Over the period under review, exports showed a deep slump. The pace of growth appeared the most rapid in 2013 when exports increased by 26% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, parts of apparatus of hs exports soared to $X in 2021. In general, exports, however, posted strong growth. The growth pace was the most rapid in 2018 when exports increased by 53%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X units, which was approx. 67% of total exports in 2021. It was distantly followed by Israel (X units), Turkey (X units), Oman (X units) and Saudi Arabia (X units), together committing a 31% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to parts of apparatus of hs exports from the United Arab Emirates stood at -13.4%. At the same time, Oman (+51.3%), Turkey (+3.8%) and Saudi Arabia (+1.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +51.3% from 2012-2021. By contrast, Israel (-6.3%) illustrated a downward trend over the same period. While the share of Oman (+6.6 p.p.), Turkey (+6.6 p.p.), Saudi Arabia (+4.1 p.p.) and Israel (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-19 p.p.) displayed negative dynamics.

In value terms, the largest parts of apparatus of hs supplying countries in the Middle East were the United Arab Emirates ($X), Israel ($X) and Saudi Arabia ($X), with a combined 89% share of total exports. These countries were followed by Turkey and Oman, which together accounted for a further 8.4%.

Oman, with a CAGR of +50.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2021, picking up by 53% against the previous year. In general, the export price saw significant growth. The most prominent rate of growth was recorded in 2014 an increase of 70%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Israel ($X per unit), while Oman ($X per unit) 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 (+32.1%), while the other leaders experienced more modest paces of growth.

Imports of Parts Of Apparatus Of Hs

Imports in the Middle East

For the third consecutive year, the Middle East recorded growth in purchases abroad of parts of apparatus of hs, which increased by 6.9% to X units in 2021. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 68%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, parts of apparatus of hs imports reached $X in 2021. Over the period under review, imports recorded buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 29%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X units) and Turkey (X units) represented the main importers of parts of apparatus of hs in the Middle East, together mixing up 60% of total imports. It was distantly followed by Israel (X units), Iran (X units) and Iraq (X units), together constituting a 28% share of total imports. The following importers - Kuwait (X units), Jordan (X units), Yemen (X units) and Qatar (X units) - together made up 8.5% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Israel (with a CAGR of +102.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest parts of apparatus of hs importing markets in the Middle East were the United Arab Emirates ($X), Israel ($X) and Iraq ($X), with a combined 64% share of total imports.

Iraq, with a CAGR of +38.1%, recorded the highest growth rate of the value of imports, among 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

In 2021, the import price in the Middle East amounted to $X per unit, rising by 6% against the previous year. Import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, parts of apparatus of hs import price decreased by -6.7% against 2019 indices. The growth pace was the most rapid in 2018 an increase of 61%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Israel ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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