Oman: Twine Product Market 2024

Twine Product Market Size in Oman

In 2023, the Omani twine product market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption saw a strong expansion. Over the period under review, the market hit record highs at $X in 2022, and then declined slightly in the following year.

Twine Product Production in Oman

In value terms, twine product production reduced to $X in 2023 estimated in export price. Overall, production showed a significant increase. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Twine product production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Twine Product Exports

Exports from Oman

For the third year in a row, Oman recorded decline in shipments abroad of articles of twine, cordage, rope or cables, which decreased by X% to X kg in 2023. Over the period under review, exports recorded a precipitous decrease. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, twine product exports skyrocketed to $X in 2023. In general, exports showed a significant decline. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

Exports by Country

Yemen (X kg) was the main destination for twine product exports from Oman, accounting for a X% share of total exports. Moreover, twine product exports to Yemen exceeded the volume sent to the second major destination, Qatar (X kg), threefold. The third position in this ranking was held by Somalia (X kg), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Yemen totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (X% per year) and Somalia (X% per year).

In value terms, Yemen ($X), Qatar ($X) and Somalia ($X) were the largest markets for twine product exported from Oman worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Yemen, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average twine product export price stood at $X per ton in 2023, jumping by X% against the previous year. In general, the export price enjoyed a tangible expansion. The growth pace was the most rapid in 2022 when the average export price increased by X%. The export price peaked in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X.7%), while the prices for the other major destinations experienced more modest paces of growth.

Twine Product Imports

Imports into Oman

In 2023, twine product imports into Oman expanded notably to X tons, increasing by X% on the previous year. Overall, imports, however, showed a noticeable descent. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, twine product imports contracted slightly to $X in 2023. In general, imports, however, showed a mild slump. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, the United Arab Emirates (X tons) constituted the largest supplier of twine product to Oman, accounting for a X% share of total imports. Moreover, twine product imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and India (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of articles of twine, cordage, rope or cables to Oman, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

Import Prices by Country

In 2023, the average twine product import price amounted to $X per ton, shrinking by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Qatar ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform