Oman: Spades And Shovels Market 2023

Spades And Shovels Market Size in Oman

After three years of decline, the Omani spades and shovels market increased by 19% to $X in 2021. In general, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Spades And Shovels Exports

Exports from Oman

In 2021, the amount of spades and shovels exported from Oman surged to X tons, with an increase of 162% compared with the previous year's figure. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2016 with an increase of 17,126%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, spades and shovels exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by 15,951% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Yemen (X tons) was the main destination for spades and shovels exports from Oman, with a 64% share of total exports. Moreover, spades and shovels exports to Yemen exceeded the volume sent to the second major destination, Somalia (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to Yemen stood at +93.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Somalia (+18.1% per year) and the United Arab Emirates (+71.2% per year).

In value terms, Yemen ($X), Somalia ($X) and the UK ($X) were the largest markets for spades and shovels exported from Oman worldwide, with a combined 90% share of total exports.

Yemen, with a CAGR of +200.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average spades and shovels export price amounted to $X per ton, with a decrease of -14.6% against the previous year. In general, the export price saw a dramatic curtailment. The pace of growth was the most pronounced in 2017 when the average export price increased by 108% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+55.7%), while the prices for the other major destinations experienced a decline.

Spades And Shovels Imports

Imports into Oman

In 2021, approx. X tons of spades and shovels were imported into Oman; with an increase of 32% compared with the previous year. Overall, total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.8% 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 increased by +79.3% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, spades and shovels imports surged to $X in 2021. In general, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 82%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of spades and shovels to Oman, accounting for a 75% share of total imports. Moreover, spades and shovels imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), eightfold. Albania (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.5% per year) and Albania (+57.1% per year).

In value terms, China ($X) constituted the largest supplier of spades and shovels to Oman, comprising 69% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total imports. It was followed by Albania, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.9% per year) and Albania (+34.2% per year).

Import Prices by Country

In 2021, the average spades and shovels import price amounted to $X per ton, with an increase of 6.5% against the previous year. In general, the import price, however, showed a mild contraction. The most prominent rate of growth was recorded in 2017 an increase of 39% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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