Oman: Measuring Instrument Market 2022

Measuring Instrument Market Size in Oman

The Omani measuring instrument market reduced to $X in 2021, declining by -8.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -33.0% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Measuring Instrument Exports

Exports from Oman

In 2021, exports of instruments and apparatus for measuring or checking the flow or level of liquids from Oman soared to X units, growing by 48% compared with 2020. Over the period under review, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 6,644%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, measuring instrument exports declined sharply to $X in 2021. Overall, exports recorded a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 5,212%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for measuring instrument exports from Oman, accounting for a 43% share of total exports. Moreover, measuring instrument exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X units), threefold. Yemen (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+116.4% per year) and Yemen (+12.2% per year).

In value terms, the largest markets for measuring instrument exported from Oman were the United Arab Emirates ($X), Yemen ($X) and the United States ($X), together comprising 70% of total exports. These countries were followed by Iraq, Qatar, Tanzania and Egypt, which together accounted for a further 18%.

Iraq, with a CAGR of +3,839.7%, recorded the highest growth rate of the value of exports, among the main countries of destination 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 measuring instrument export price amounted to $X per unit, falling by -48.5% against the previous year. In general, the export price showed a perceptible slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 45%. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per unit), while the average price for exports to Tanzania ($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 Egypt (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Oman

Measuring instrument imports into Oman dropped to X units in 2021, with a decrease of -5.9% against the previous year's figure. Over the period under review, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 90% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, measuring instrument imports reduced to $X in 2021. Overall, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -34.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 92%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest supplier of measuring instrument to Oman, with a 44% share of total imports. Moreover, measuring instrument imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was held by Qatar (X units), with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+47.7% per year) and Qatar (+84.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of measuring instrument to Oman, comprising 36% of total imports. The second position in the ranking was held by Qatar ($X), with a 13% share of total imports. It was followed by India, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+82.1% per year) and India (+44.0% per year).

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, stabilizing at the previous year. In general, the import price showed a perceptible setback. The pace of growth appeared the most rapid in 2016 an increase of 7.8%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Ireland ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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