Oman: Electronic Chip Market 2024

Electronic Chip Market Size in Oman

The Omani electronic chip market contracted to $X in 2021, declining by -8% against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.2% against 2016 indices. Electronic chip consumption peaked at $X in 2020, and then contracted in the following year.

Electronic Chip Production in Oman

In value terms, electronic chip production shrank to $X in 2021 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +56.3% against 2015 indices. The most prominent rate of growth was recorded in 2020 with an increase of 24%. As a result, production reached the peak level of $X, and then shrank in the following year.

Electronic Chip Exports

Exports from Oman

In 2021, electronic chip exports from Oman dropped markedly to X units, with a decrease of -81.4% compared with the year before. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 6,097%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electronic chip exports reduced markedly to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 4,342% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Qatar (X units), Yemen (X units) and the United Arab Emirates (X units) were the main destinations of electronic chip exports from Oman, together accounting for 67% of total exports. South Korea, China, the UK, France and Kuwait lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +72.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the key foreign market for electronic chips exports from Oman, comprising 47% of total exports. The second position in the ranking was held by France ($X), with a 19% share of total exports. It was followed by South Korea, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+77.8% per year) and South Korea (+62.8% per year).

Export Prices by Country

The average electronic chip export price stood at $X per unit in 2021, declining by -28% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 278% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to the United Arab Emirates (less than $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 South Korea (+9.5%), while the prices for the other major destinations experienced mixed trend patterns.

Electronic Chip Imports

Imports into Oman

In 2021, overseas purchases of electronic chips increased by 27% to X units, rising for the second consecutive year after two years of decline. Overall, imports showed a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by 55% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, electronic chip imports skyrocketed to $X in 2021. In general, imports posted prominent growth. The pace of growth was the most pronounced in 2018 when imports increased by 46%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest electronic chip supplier to Oman, accounting for a 85% share of total imports. Moreover, electronic chip imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X units), more than tenfold. China (X units) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+35.3% per year) and China (+6.5% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of electronic chips to Oman, comprising 65% of total imports. The second position in the ranking was held by Qatar ($X), with a 2.9% share of total imports. It was followed by Turkey, with a 2.7% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates amounted to +19.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+23.1% per year) and Turkey (+49.4% per year).

Import Prices by Country

In 2021, the average electronic chip import price amounted to $X per unit, which is down by -4.6% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 51% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Qatar ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+10.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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