Oman: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Oman

The Omani inedible fish products market rose sharply to $X in 2022, with an increase of 7% against the previous year. In general, consumption recorded a buoyant expansion. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Inedible Fish Products Production in Oman

In value terms, inedible fish products production expanded rapidly to $X in 2022 estimated in export price. In general, production saw a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 87% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Inedible Fish Products Exports

Exports from Oman

Inedible fish products exports from Oman skyrocketed to X tons in 2022, with an increase of 23% against the year before. Overall, exports posted significant growth. The growth pace was the most rapid in 2020 with an increase of 3,402%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, inedible fish products exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 6,057% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sri Lanka (X tons), the United Arab Emirates (X tons) and Singapore (X tons) were the main destinations of inedible fish products exports from Oman, with a combined 82% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +354.8%), while the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($X) emerged as the key foreign market for inedible fish products exports from Oman, comprising 73% of total exports. The second position in the ranking was taken by Mauritius ($X), with an 8.8% share of total exports. It was followed by Australia, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sri Lanka totaled +627.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (+29.0% per year) and Australia (0.0% per year).

Export Prices by Country

In 2022, the average inedible fish products export price amounted to $X per ton, rising by 21% against the previous year. Over the period under review, the export price recorded a prominent expansion. The pace of growth was the most pronounced in 2020 an increase of 76% against the previous year. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to the United Arab Emirates ($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 Sri Lanka (+59.8%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into Oman

In 2022, purchases abroad of inedible fish products was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 5,058% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, inedible fish products imports soared to $X in 2022. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 3,647% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Yemen (X tons) was the main supplier of inedible fish products to Oman, with a 91% share of total imports. Moreover, inedible fish products imports from Yemen exceeded the figures recorded by the second-largest supplier, Mauritius (X tons), more than tenfold. The third position in this ranking was held by Iran (X tons), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from Yemen stood at +78.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mauritius (+10.7% per year) and Iran (+92.4% per year).

In value terms, Yemen ($X) constituted the largest supplier of inedible fish products to Oman, comprising 80% of total imports. The second position in the ranking was held by Mauritius ($X), with a 4.6% share of total imports. It was followed by Iran, with a 3% share.

From 2012 to 2022, the average annual growth rate of value from Yemen stood at +38.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mauritius (+7.1% per year) and Iran (+1.2% per year).

Import Prices by Country

The average inedible fish products import price stood at $X per ton in 2022, shrinking by -4.9% against the previous year. In general, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 90%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Iran ($X per ton) and the United Arab Emirates ($X per ton), while the price for Yemen ($X per ton) and Mauritius ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+15.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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