Oman: Festive Articles Market 2024

Festive Articles Market Size in Oman

The Omani festive articles market reduced slightly to $X in 2022, stabilizing at the previous year. In general, consumption, however, posted prominent growth. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Festive Articles Production in Oman

In value terms, festive articles production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a notable increase. Festive articles production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Festive Articles Exports

Exports from Oman

In 2022, overseas shipments of festive or carnival articles were finally on the rise to reach X tons after two years of decline. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 4,740%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, festive articles exports skyrocketed to $X in 2022. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 3,270% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for festive articles exports from Oman, with a 70% share of total exports. Moreover, festive articles exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +67.1%.

In value terms, Qatar ($X) remains the key foreign market for festive or carnival articles exports from Oman, comprising 51% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar totaled +60.7%.

Export Prices by Country

The average festive articles export price stood at $X per ton in 2022, dropping by -7.4% against the previous year. In general, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by 60%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+3.9%).

Festive Articles Imports

Imports into Oman

Festive articles imports into Oman contracted sharply to X tons in 2022, waning by -20.3% against the previous year's figure. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 385% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, festive articles imports declined to $X in 2022. Overall, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 212% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest festive articles supplier to Oman, accounting for a 56% share of total imports. Moreover, festive articles imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.8% per year) and Germany (+72.1% per year).

In value terms, the largest festive articles suppliers to Oman were the United Arab Emirates ($X), Germany ($X) and China ($X), with a combined 88% share of total imports.

Among the main suppliers, Germany, with a CAGR of +79.3%, saw 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

The average festive articles import price stood at $X per ton in 2022, jumping by 18% against the previous year. In general, the import price, however, recorded a mild slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by 99% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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