Oman: Cotton Yarn Market 2024

Cotton Yarn Market Size in Oman

The Omani cotton yarn market rose modestly to $X in 2022, growing by 3.1% against the previous year. Overall, consumption posted temperate growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Cotton Yarn Production in Oman

In value terms, cotton yarn production stood at $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 84% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Cotton Yarn Exports

Exports from Oman

In 2022, shipments abroad of cotton yarn increased by 1.2% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, showed a precipitous shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 533% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton yarn exports shrank modestly to $X in 2022. Overall, exports, however, faced a dramatic setback. The pace of growth appeared the most rapid in 2015 with an increase of 789% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), Bangladesh (X tons) and India (X tons) were the main destinations of cotton yarn exports from Oman, with a combined 79% share of total exports. China, the United States, Spain, Pakistan, Egypt, Jordan, Bahrain and South Korea lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +29.2%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for cotton yarn exported from Oman were the United Arab Emirates ($X), Bangladesh ($X) and India ($X), with a combined 74% share of total exports. China, Pakistan, the United States, Spain, Jordan, Egypt, Bahrain and South Korea lagged somewhat behind, together accounting for a further 21%.

In terms of the main countries of destination, Spain, with a CAGR of +43.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cotton yarn export price stood at $X per ton in 2022, dropping by -1.6% against the previous year. In general, the export price saw a deep setback. The growth pace was the most rapid in 2015 when the average export price increased by 41%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Yarn Imports

Imports into Oman

In 2022, after two years of growth, there was significant decline in supplies from abroad of cotton yarn, when their volume decreased by -25% to X tons. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 4,117% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then fell markedly in the following year.

In value terms, cotton yarn imports contracted sharply to $X in 2022. Over the period under review, imports, however, posted a resilient increase. The pace of growth was the most pronounced in 2020 when imports increased by 4,417%. Imports peaked at $X in 2021, and then contracted notably in the following year.

Imports by Country

In 2022, India (X tons) was the main supplier of cotton yarn to Oman, with a 95% share of total imports. It was followed by the United Arab Emirates (X tons), with a 2.7% share of total imports. China (X tons) ranked third in terms of total imports with a 1.3% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+25.5% per year) and China (-7.9% per year).

In value terms, India ($X) constituted the largest supplier of cotton yarn to Oman, comprising 95% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 3.1% share of total imports. It was followed by China, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+30.4% per year) and China (-9.7% per year).

Import Prices by Country

The average cotton yarn import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, showed a slight descent. The growth pace was the most rapid in 2018 when the average import price increased by 43%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Indonesia ($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 (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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