Oman: Knitting Machines Market 2024

Knitting Machines Market Size in Oman

The Omani knitting machines market surged to $X in 2021, increasing by 272% 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). In general, consumption showed a resilient expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Knitting Machines Exports

Exports from Oman

In 2021, approx. X units of knitting machineses were exported from Oman; surging by 375% against the previous year's figure. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 400% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, knitting machines exports surged to $X in 2021. Overall, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Yemen (X units) was the main destination for knitting machines exports from Oman, accounting for a 74% share of total exports. Moreover, knitting machines exports to Yemen exceeded the volume sent to the second major destination, the United Arab Emirates (X units), fivefold. Jordan (X units) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Yemen was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+14.7% per year) and Jordan (-29.3% per year).

In value terms, Yemen ($X) emerged as the key foreign market for knitting machineses exports from Oman, comprising 78% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total exports. It was followed by Free Zones, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value to Yemen was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+22.3% per year) and Free Zones (0.0% per year).

Export Prices by Country

In 2021, the average knitting machines export price amounted to $X per unit, jumping by 47% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 181%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Free Zones ($X per unit), while the average price for exports to Jordan ($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 the United Arab Emirates (-3.2%).

Knitting Machines Imports

Imports into Oman

In 2021, the amount of knitting machineses imported into Oman surged to X units, with an increase of 315% against the previous year. In general, imports saw a strong expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 624% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, knitting machines imports surged to $X in 2021. Over the period under review, imports, however, recorded a mild slump. The pace of growth was the most pronounced in 2018 when imports increased by 318% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest knitting machines supplier to Oman, accounting for a 76% share of total imports. Moreover, knitting machines imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), ninefold. The third position in this ranking was taken by Sri Lanka (X units), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-4.3% per year) and Sri Lanka (0.0% per year).

In value terms, the largest knitting machines suppliers to Oman were the United Arab Emirates ($X), China ($X) and South Korea ($X), with a combined 70% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +39.7%, saw the highest growth rate of 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

In 2021, the average knitting machines import price amounted to $X per unit, shrinking by -44.3% against the previous year. Over the period under review, the import price continues to indicate a deep reduction. The growth pace was the most rapid in 2020 when the average import price increased by 143%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per unit), while the price for Sri Lanka ($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 United Arab Emirates (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform