Oman: Clutch Market 2024

Clutch Market Size in Oman

The Omani clutch market contracted to $X in 2022, falling by -14.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2021, and then shrank in the following year.

Clutch Exports

Exports from Oman

After four years of growth, overseas shipments of clutches decreased by -12.6% to X tons in 2022. In general, exports recorded a perceptible slump. The growth pace was the most rapid in 2020 with an increase of 49% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, clutch exports declined to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 26%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for clutch exports from Oman, with a 55% share of total exports. Moreover, clutch exports to the United Arab Emirates exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), sixfold. The third position in this ranking was taken by Singapore (X kg), with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +33.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+0.7% per year) and Singapore (+7.3% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for clutches exports from Oman, comprising 55% of total exports. The second position in the ranking was taken by Singapore ($X), with a 10% share of total exports. It was followed by Hong Kong SAR, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +60.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+11.7% per year) and Hong Kong SAR (+6.4% per year).

Export Prices by Country

In 2022, the average clutch export price amounted to $X per ton, with an increase of 2.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2016 an increase of 36%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Libya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+89.8%), while the prices for the other major destinations experienced more modest paces of growth.

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Clutch Imports

Imports into Oman

In 2022, the amount of clutches imported into Oman contracted to X tons, which is down by -13.3% compared with 2021 figures. In general, imports, however, showed measured growth. The pace of growth appeared the most rapid in 2019 with an increase of 101% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, clutch imports shrank to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 87% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest clutch supplier to Oman, accounting for a 63% share of total imports. Moreover, clutch imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Thailand (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.6% per year) and Thailand (-3.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of clutches to Oman, comprising 59% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports. It was followed by Thailand, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-10.8% per year) and Thailand (-4.0% per year).

Import Prices by Country

The average clutch import price stood at $X per ton in 2022, which is down by -1.7% against the previous year. Overall, the import price recorded a noticeable slump. The pace of growth was the most pronounced in 2016 an increase of 35% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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