Oman: Jewelry Market 2024

Jewelry Market Size in Oman

The Omani jewelry market declined dramatically to $X in 2022, which is down by X% 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). In general, consumption recorded a deep reduction. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Jewelry Exports

Exports from Oman

In 2022, overseas shipments of jewelry decreased by X% to X kg, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, continue to indicate tangible growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, jewelry exports dropped remarkably to $X in 2022. In general, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X kg), the United Arab Emirates (X kg) and India (X kg) were the main destinations of jewelry exports from Oman, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for jewelry exports from Oman, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and India (X% per year).

Export Prices by Country

The average jewelry export price stood at $X per kg in 2022, waning by X% against the previous year. Over the period under review, the export price, however, showed strong growth. The growth pace was the most rapid in 2016 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per kg in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

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

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Jewelry Imports

Imports into Oman

In 2022, the amount of jewelry imported into Oman declined significantly to X tons, which is down by X% compared with the previous year. In general, imports showed a abrupt setback. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, jewelry imports contracted significantly to $X in 2022. Overall, imports saw a pronounced decrease. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), the United Arab Emirates (X tons) and Italy (X tons) were the main suppliers of jewelry imports to Oman.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of jewelry to Oman, comprising X% of total imports. The second position in the ranking was held by Bahrain ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bahrain (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average jewelry import price amounted to $X per kg, shrinking by X% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2022: its price 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, jewelry import price decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per kg in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Bahrain ($X per kg), while the price for Lebanon ($X per kg) was amongst the lowest.

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

Source: IndexBox Platform

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