Saudi Arabia: Spades And Shovels Market 2024

Spades And Shovels Market Size in Saudi Arabia

In 2021, the Saudi spades and shovels market decreased by -3.5% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption showed strong growth. Over the period under review, the market hit record highs at $X in 2020, and then fell slightly in the following year.

Spades And Shovels Production in Saudi Arabia

In value terms, spades and shovels production shrank to $X in 2021 estimated in export price. Overall, production, however, posted a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 262%. Spades and shovels production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Spades And Shovels Exports

Exports from Saudi Arabia

Spades and shovels exports from Saudi Arabia shrank notably to X kg in 2021, with a decrease of -91.4% against the previous year. Overall, exports saw a sharp downturn. The growth pace was the most rapid in 2018 when exports increased by 826% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, spades and shovels exports dropped markedly to $X in 2021. Over the period under review, exports faced a abrupt downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 825%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Yemen (X kg) was the main destination for spades and shovels exports from Saudi Arabia, with a 71% share of total exports. Moreover, spades and shovels exports to Yemen exceeded the volume sent to the second major destination, Sudan (X kg), fourfold. The third position in this ranking was taken by Oman (X kg), with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Yemen totaled -19.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (-8.6% per year) and Oman (-6.9% per year).

In value terms, Sudan ($X) remains the key foreign market for spades and shovels exports from Saudi Arabia, comprising 71% of total exports. The second position in the ranking was held by Yemen ($X), with a 15% share of total exports. It was followed by Bahrain, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value to Sudan totaled +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (-18.3% per year) and Bahrain (-39.1% per year).

Export Prices by Country

In 2021, the average spades and shovels export price amounted to $X per ton, which is down by -12.3% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spades and shovels export price increased by +8.4% against 2019 indices. The growth pace was the most rapid in 2014 when the average export price increased by 34% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to Yemen ($X per ton) 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 (+35.3%), while the prices for the other major destinations experienced more modest paces of growth.

Spades And Shovels Imports

Imports into Saudi Arabia

In 2021, supplies from abroad of spades and shovels increased by 3.2% to X tons, rising for the fourth consecutive year after two years of decline. Overall, imports recorded a measured increase. The most prominent rate of growth was recorded in 2015 with an increase of 31% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, spades and shovels imports skyrocketed to $X in 2021. In general, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Brazil (X tons) and Germany (X tons) were the main suppliers of spades and shovels imports to Saudi Arabia, with a combined 84% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +7.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spades and shovels suppliers to Saudi Arabia were China ($X), Brazil ($X) and Germany ($X), with a combined 85% share of total imports.

Among the main suppliers, Brazil, with a CAGR of +16.3%, recorded the highest rates of growth with regard to 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 spades and shovels import price amounted to $X per ton, increasing by 39% against the previous year. Over the period under review, the import price showed a resilient expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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