MENA: Clove Market 2024

Clove Market Size in MENA

In 2022, the MENA's clove market increased by X% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Clove Production in MENA

In value terms, clove production skyrocketed to $X in 2022 estimated in export price. In general, production recorded significant growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

The United Arab Emirates (X tons) constituted the country with the largest volume of clove production, comprising approx. X% of total volume.

From 2012 to 2022, the average annual growth rate of volume in the United Arab Emirates was relatively modest.

Clove Exports

Exports in MENA

In 2022, the amount of cloves exported in MENA skyrocketed to X tons, with an increase of X% against 2021. Over the period under review, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, clove exports soared to $X in 2022. In general, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the largest exporter of cloves in MENA, generating X% of total export.

The United Arab Emirates was also the fastest-growing in terms of the cloves exports, with a CAGR of X% from 2012 to 2022. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest clove supplier in MENA.

In the United Arab Emirates, clove exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, showed a noticeable slump. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Clove Imports

Imports in MENA

In 2022, after four years of growth, there was decline in supplies from abroad of cloves, when their volume decreased by X% to X tons. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then shrank slightly in the following year.

In value terms, clove imports rose rapidly to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

The United Arab Emirates represented the major importing country with an import of about X tons, which finished at X% of total imports. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Iraq (X tons) and Egypt (X tons). All these countries together held approx. X% share of total imports. Turkey (X tons), Syrian Arab Republic (X tons), Oman (X tons), Kuwait (X tons), Algeria (X tons) and Morocco (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to clove imports into the United Arab Emirates stood at X%. At the same time, Iraq (X%), Syrian Arab Republic (X%), Morocco (X%), Oman (X%), Egypt (X%), Algeria (X%), Turkey (X%), Kuwait (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Iraq, Kuwait and Syrian Arab Republic increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported cloves in MENA, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Egypt, with a X% share.

In the United Arab Emirates, clove imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Egypt (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, surging by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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