GCC: Market for Parts Of Apparatus Of Hs 2024

Market Size for Parts Of Apparatus Of Hs in GCC

The GCC market for parts of apparatus of hs totaled $X in 2021, rising by 3.3% against the previous year. Over the period under review, consumption continues to indicate strong growth. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Parts Of Apparatus Of Hs in GCC

In value terms, parts of apparatus of hs production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 75% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Parts Of Apparatus Of Hs

Exports in GCC

For the sixth consecutive year, GCC recorded decline in overseas shipments of parts of apparatus of hs, which decreased by -16.2% to X units in 2021. In general, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2013 with an increase of 34% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, parts of apparatus of hs exports expanded notably to $X in 2021. Overall, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 67% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X units, which was approx. 83% of total exports in 2021. Oman (X units) ranks second in terms of the total exports with an 8.3% share, followed by Saudi Arabia (7.5%).

Exports from the United Arab Emirates decreased at an average annual rate of -13.4% from 2012 to 2021. At the same time, Oman (+51.3%) and Saudi Arabia (+1.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +51.3% from 2012-2021. Oman (+8.2 p.p.) and Saudi Arabia (+5.4 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -11.9% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest parts of apparatus of hs supplier in GCC, comprising 83% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +14.5%. In the other countries, the average annual rates were as follows: Saudi Arabia (+13.5% per year) and Oman (+50.8% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, with an increase of 32% against the previous year. In general, the export price recorded significant growth. The pace of growth was the most pronounced in 2018 when the export price increased by 84%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Saudi Arabia ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+32.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Parts Of Apparatus Of Hs

Imports in GCC

For the third year in a row, GCC recorded growth in purchases abroad of parts of apparatus of hs, which increased by 17% to X units in 2021. Over the period under review, imports recorded buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 66% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the near future.

In value terms, parts of apparatus of hs imports shrank slightly to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, recording X units, which was near 83% of total imports in 2021. It was distantly followed by Kuwait (X units), achieving a 6.4% share of total imports. Qatar (X units), Oman (X units) and Bahrain (X units) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to parts of apparatus of hs imports into the United Arab Emirates stood at +13.9%. At the same time, Qatar (+39.1%), Oman (+7.6%) and Kuwait (+4.2%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +39.1% from 2012-2021. Bahrain experienced a relatively flat trend pattern. The United Arab Emirates (+9.4 p.p.) and Qatar (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Oman, Bahrain and Kuwait saw its share reduced by -1.8%, -4.7% and -6.3% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported parts of apparatus of hs in GCC, comprising 61% of total imports. The second position in the ranking was held by Kuwait ($X), with a 7.9% share of total imports. It was followed by Qatar, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +4.2%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+15.4% per year) and Qatar (+5.8% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, shrinking by -14.9% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The growth pace was the most rapid in 2018 when the import price increased by 79%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+12.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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