Oman: Silk Fabric Market 2024

Silk Fabric Market Size in Oman

For the sixth year in a row, the Omani silk fabric market recorded decline in sales value, which decreased by -32% to $X in 2021. Overall, consumption continues to indicate a deep contraction. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Silk Fabric Exports

Exports from Oman

Silk fabric exports from Oman expanded to X square meters in 2021, picking up by 4.4% on 2020. Overall, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2013 when exports increased by 83%. As a result, the exports attained the peak of X square meters. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, silk fabric exports surged to $X in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 65%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X square meters), Jordan (X square meters) and Qatar (X square meters) were the main destinations of silk fabric exports from Oman, together comprising 99% of total exports.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +26.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Jordan ($X), the United Arab Emirates ($X) and Qatar ($X) appeared to be the largest markets for silk fabric exported from Oman worldwide, with a combined 98% share of total exports.

Qatar, with a CAGR of +50.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average silk fabric export price stood at $X per square meter in 2021, surging by 29% against the previous year. Overall, the export price recorded resilient growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 70% against the previous year. Over the period under review, the average export prices hit record highs at $X per square meter in 2015; however, from 2016 to 2021, 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 Jordan ($X per square meter), while the average price for exports to the United Arab Emirates ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Fabric Imports

Imports into Oman

In 2021, overseas purchases of woven fabrics of silk or of silk waste decreased by -34.4% to X square meters, falling for the third year in a row after two years of growth. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 134%. As a result, imports reached the peak of X square meters. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, silk fabric imports reduced markedly to $X in 2021. Over the period under review, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2015 when imports increased by 123% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X square meters) constituted the largest silk fabric supplier to Oman, with a 83% share of total imports. Moreover, silk fabric imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X square meters), more than tenfold. The third position in this ranking was held by Singapore (X square meters), with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates stood at -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.1% per year) and Singapore (+92.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of woven fabrics of silk or of silk waste to Oman, comprising 58% of total imports. The second position in the ranking was taken by Japan ($X), with a 14% share of total imports. It was followed by India, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at -10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+39.1% per year) and India (-19.0% per year).

Import Prices by Country

The average silk fabric import price stood at $X per square meter in 2021, surging by 6.6% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $X per square meter in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per square meter), while the price for Sri Lanka ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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