Oman: Hand Tools Market 2024

Hand Tools Market Size in Oman

In 2021, the Omani hand tools market decreased by -14.6% to $X, falling for the second consecutive year after three years of growth. In general, consumption, however, saw a relatively flat trend pattern. Hand tools consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Hand Tools Exports

Exports from Oman

In 2021, shipments abroad of hand tools decreased by -72% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports, however, recorded tangible growth. The most prominent rate of growth was recorded in 2015 when exports increased by 133%. The exports peaked at X tons in 2020, and then declined dramatically in the following year.

In value terms, hand tools exports shrank notably to $X in 2021. In general, exports, however, enjoyed a mild expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 132%. The exports peaked at $X in 2020, and then contracted dramatically in the following year.

Exports by Country

Qatar (X tons), Somalia (X tons) and the United Arab Emirates (X tons) were the main destinations of hand tools exports from Oman, with a combined 51% share of total exports. These countries were followed by Yemen, France, Uganda, Bahrain, Kazakhstan, Ethiopia, Tanzania, Saudi Arabia and Germany, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Uganda (with a CAGR of +73.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Qatar ($X) and France ($X) were the largest markets for hand tools exported from Oman worldwide, with a combined 58% share of total exports. These countries were followed by Germany, Somalia, Saudi Arabia, Kazakhstan, Yemen, Ethiopia, Bahrain, Tanzania and Uganda, which together accounted for a further 18%.

In terms of the main countries of destination, Kazakhstan, with a CAGR of +65.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average hand tools export price amounted to $X per ton, growing by 32% against the previous year. Over the period under review, the export price, however, showed a perceptible slump. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Uganda ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Oman

In 2021, purchases abroad of hand tools decreased by -19.8% to X tons, falling for the second consecutive year after three years of growth. In general, total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 31%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, hand tools imports contracted notably to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 35%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Yemen (X tons) were the main suppliers of hand tools imports to Oman, together accounting for 83% of total imports. These countries were followed by Free Zones, Qatar, India and the United States, which together accounted for a further 8.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Free Zones (with a CAGR of +82.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of hand tools to Oman, comprising 47% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by Qatar, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.9% per year) and Qatar (+33.5% per year).

Import Prices by Country

In 2021, the average hand tools import price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price, however, saw a mild shrinkage. The pace of growth appeared the most rapid in 2015 when the average import price increased by 22%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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