Oman: Machinery For Packing Market 2024

Machinery For Packing Market Size in Oman

The Omani machinery for packing market soared to $X in 2022, jumping by 21% 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 recorded noticeable growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Machinery For Packing Exports

Exports from Oman

In 2022, the amount of machinery for packing or wrapping exported from Oman shrank markedly to X units, reducing by -42.3% compared with 2021. Overall, exports, however, posted a perceptible increase. The pace of growth was the most pronounced in 2015 with an increase of 2,250% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, machinery for packing exports reduced modestly to $X in 2022. Over the period under review, exports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 1,742%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Yemen (X units), the United Arab Emirates (X units) and Iran (X units) were the main destinations of machinery for packing exports from Oman, together comprising 85% 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 Iran (with a CAGR of +24.6%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) remains the key foreign market for machinery for packing or wrapping exports from Oman, comprising 89% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 6.4% share of total exports. It was followed by Yemen, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran stood at +26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+17.3% per year) and Yemen (+7.2% per year).

Export Prices by Country

In 2022, the average machinery for packing export price amounted to $X per unit, rising by 72% against the previous year. In general, the export price recorded a resilient expansion. The growth pace was the most rapid in 2021 when the average export price increased by 107% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per unit), while the average price for exports to Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+3.0%), while the prices for the other major destinations experienced mixed trend patterns.

Machinery For Packing Imports

Imports into Oman

In 2022, imports of machinery for packing or wrapping into Oman surged to X units, growing by 35% compared with the previous year's figure. Overall, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 235% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, machinery for packing imports reached $X in 2022. In general, imports continue to indicate a perceptible expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 103%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units), China (X units) and Italy (X units) were the main suppliers of machinery for packing imports to Oman, with a combined 54% share of total imports. India, Turkey, Taiwan (Chinese), South Korea, Saudi Arabia, Belgium and Germany lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +45.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of machinery for packing or wrapping to Oman, comprising 26% of total imports. The second position in the ranking was taken by Italy ($X), with a 13% share of total imports. It was followed by South Korea, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.5% per year) and South Korea (+25.3% per year).

Import Prices by Country

In 2022, the average machinery for packing import price amounted to $X per unit, dropping by -20.6% against the previous year. In general, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2017 when the average import price increased by 94%. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+12.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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