Middle East: Clove Market 2024

Clove Market Size in the Middle East

In 2022, the Middle Eastern clove market increased by X% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a strong 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. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Clove Production in the Middle East

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

The country with the largest volume of clove production was the United Arab Emirates (X tons), accounting for X% of total volume.

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

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Clove Exports

Exports in the Middle East

In 2022, clove exports in the Middle East soared to X tons, growing by X% compared with 2021 figures. In general, exports continue to indicate 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 surged to $X in 2022. Overall, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons), together recording 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. While the share of the United Arab Emirates (X p.p.) increased significantly, 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 the Middle East.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 the Middle East

In 2022, after four years of growth, there was decline in purchases abroad of cloves, when their volume decreased by X% to X tons. Total imports indicated resilient growth 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 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, clove imports amounted to $X in 2022. Total imports indicated a prominent 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 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The United Arab Emirates was the main importing country with an import of around X tons, which reached X% of total imports. It was distantly followed by Saudi Arabia (X tons) and Iraq (X tons), together constituting a X% share of total imports. Turkey (X tons), Syrian Arab Republic (X tons), Oman (X tons) and Kuwait (X tons) took a minor share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Iraq (X%), Syrian Arab Republic (X%), Oman (X%), Turkey (X%), Kuwait (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. While the share of Iraq (X p.p.), Kuwait (X p.p.) and Syrian Arab Republic (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Iraq (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Oman ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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