Oman: Sunglasses Market 2024

Sunglasses Market Size in Oman

The Omani sunglasses market shrank markedly to $X in 2022, with a decrease of -16.6% 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). Overall, consumption, however, posted tangible growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Sunglasses Exports

Exports from Oman

In 2022, overseas shipments of sunglasses were finally on the rise to reach X units after three years of decline. Over the period under review, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 6,363%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, sunglasses exports skyrocketed to $X in 2022. Overall, exports posted a strong expansion. The growth pace was the most rapid in 2017 when exports increased by 5,298%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Qatar (X units) was the main destination for sunglasses exports from Oman, with a 90% share of total exports. Moreover, sunglasses exports to Qatar exceeded the volume sent to the second major destination, Iran (X units), more than tenfold. The United Arab Emirates (X units) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume to Qatar stood at +37.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+14.4% per year) and the United Arab Emirates (-16.4% per year).

In value terms, Qatar ($X) remains the key foreign market for sunglasses exports from Oman, comprising 87% of total exports. The second position in the ranking was held by Iran ($X), with a 3.7% share of total exports. It was followed by Italy, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar stood at +55.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+9.5% per year) and Italy (+10.3% per year).

Export Prices by Country

The average sunglasses export price stood at $X per unit in 2022, reducing by -10.7% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 96% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Qatar ($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 Qatar (+13.3%), while the prices for the other major destinations experienced a decline.

Sunglasses Imports

Imports into Oman

Sunglasses imports into Oman reduced to X units in 2022, waning by -2.6% against the previous year. Over the period under review, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 96%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, sunglasses imports rose to $X in 2022. Overall, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 138%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) constituted the largest sunglasses supplier to Oman, with a 64% share of total imports. Moreover, sunglasses imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.9% per year) and Italy (-5.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of sunglasses to Oman, comprising 58% of total imports. The second position in the ranking was taken by Italy ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.0% per year) and China (-1.1% per year).

Import Prices by Country

In 2022, the average sunglasses import price amounted to $X per unit, growing by 5.5% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunglasses import price decreased by -3.4% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of 62% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+17.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :