Oman: Imitation Jewellery Market 2024

Imitation Jewellery Market Size in Oman

In 2021, the Omani imitation jewellery market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a pronounced contraction. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Imitation Jewellery Exports

Exports from Oman

In 2021, overseas shipments of imitation jewelry decreased by -44.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, showed a significant expansion. The growth pace was the most rapid in 2017 with an increase of 733% against the previous year. The exports peaked at X tons in 2020, and then dropped markedly in the following year.

In value terms, imitation jewellery exports shrank dramatically to $X in 2021. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 541%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Yemen (X tons) was the main destination for imitation jewellery exports from Oman, accounting for a 77% share of total exports. Moreover, imitation jewellery exports to Yemen exceeded the volume sent to the second major destination, Qatar (X tons), fivefold. The third position in this ranking was held by Iran (X tons), with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume to Yemen amounted to -15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+370.1% per year) and Iran (+202.4% per year).

In value terms, Qatar ($X) remains the key foreign market for imitation jewellery exports from Oman, comprising 62% of total exports. The second position in the ranking was taken by Yemen ($X), with a 28% share of total exports. It was followed by Iran, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to Qatar amounted to +303.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (-15.9% per year) and Iran (+176.9% per year).

Export Prices by Country

In 2021, the average imitation jewellery export price amounted to $X per ton, surging by 15% against the previous year. Overall, the export price, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2013 when the average export price increased by 49% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Qatar ($X per ton), while the average price for exports to Yemen ($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 Yemen (-0.8%), while the prices for the other major destinations experienced a decline.

Imitation Jewellery Imports

Imports into Oman

In 2021, purchases abroad of imitation jewelry was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a noticeable curtailment. The growth pace was the most rapid in 2015 with an increase of 54%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imitation jewellery imports soared to $X in 2021. In general, imports saw perceptible growth. The most prominent rate of growth was recorded in 2015 when imports increased by 281%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest imitation jewellery supplier to Oman, with a 85% share of total imports. Moreover, imitation jewellery imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.9% per year) and India (-9.5% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of imitation jewellery to Oman, comprising 62% of total imports. The second position in the ranking was held by China ($X), with a 7.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.5% per year) and India (-12.6% per year).

Import Prices by Country

The average imitation jewellery import price stood at $X per ton in 2021, with an increase of 3.4% against the previous year. In general, the import price showed a remarkable increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by 148%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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