Oman: Agricultural Appliance Market 2024

Agricultural Appliance Market Size in Oman

In 2021, the Omani agricultural appliance market increased by 162% to $X, rising for the second year in a row after four years of decline. Over the period under review, consumption posted a measured expansion. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Agricultural Appliance Exports

Exports from Oman

After five years of growth, shipments abroad of agricultural appliances decreased by -88.5% to X units in 2021. Overall, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 733% against the previous year. The exports peaked at X units in 2020, and then shrank dramatically in the following year.

In value terms, agricultural appliance exports reduced sharply to $X in 2021. Over the period under review, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2019 when exports increased by 603% against the previous year. The exports peaked at $X in 2020, and then declined notably in the following year.

Exports by Country

Sudan (X units) was the main destination for agricultural appliance exports from Oman, accounting for a 68% share of total exports. Moreover, agricultural appliance exports to Sudan exceeded the volume sent to the second major destination, Qatar (X units), fourfold. The third position in this ranking was held by Somalia (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sudan stood at -64.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+3.4% per year) and Somalia (-3.6% per year).

In value terms, Sudan ($X) emerged as the key foreign market for agricultural appliances exports from Oman, comprising 56% of total exports. The second position in the ranking was held by Qatar ($X), with a 21% share of total exports. It was followed by Somalia, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sudan stood at -64.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-2.3% per year) and Somalia (-3.1% per year).

Export Prices by Country

The average agricultural appliance export price stood at $X per unit in 2021, leveling off at the previous year. In general, the export price, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when the average export price increased by 62%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Sudan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Somalia (+0.6%), while the prices for the other major destinations experienced a decline.

Agricultural Appliance Imports

Imports into Oman

In 2021, purchases abroad of agricultural appliances increased by 98% to X units, rising for the second consecutive year after four years of decline. In general, imports continue to indicate noticeable growth. The pace of growth was the most pronounced in 2013 when imports increased by 255%. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, agricultural appliance imports soared to $X in 2021. Over the period under review, imports posted a noticeable increase. The pace of growth was the most pronounced in 2013 with an increase of 156% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X units), Saudi Arabia (X units) and China (X units) were the main suppliers of agricultural appliance imports to Oman, with a combined 63% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +37.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of agricultural appliances to Oman, comprising 31% of total imports. The second position in the ranking was held by the United States ($X), with an 8.7% share of total imports. It was followed by Saudi Arabia, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.0% per year) and Saudi Arabia (+19.2% per year).

Import Prices by Country

The average agricultural appliance import price stood at $X per unit in 2021, which is down by -10.7% against the previous year. Over the period under review, the import price continues to indicate a mild decrease. The growth pace was the most rapid in 2017 an increase of 62% against the previous year. Over the period under review, average import prices reached the peak figure 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 supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform