Oman: Leather Market 2024

Leather Market Size in Oman

The Omani leather market dropped to $X in 2023, with a decrease of X% against the previous year. In general, consumption saw a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.

Leather Production in Oman

In value terms, leather production shrank slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2023, production growth remained at a lower figure.

Leather Exports

Exports from Oman

In 2023, overseas shipments of leather decreased by X% to X square meters, falling for the second consecutive year after two years of growth. Overall, exports, however, showed resilient growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X square meters in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, leather exports reduced to $X in 2023. Over the period under review, exports, however, continue to indicate strong growth. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Pakistan (X square meters) was the main destination for leather exports from Oman, with a X% share of total exports. Moreover, leather exports to Pakistan exceeded the volume sent to the second major destination, India (X square meters), threefold. The United Arab Emirates (X square meters) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Pakistan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and the United Arab Emirates (X% per year).

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

From 2012 to 2023, the average annual growth rate of value to Pakistan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the average leather export price amounted to $X per square meter, picking up by X% against the previous year. Overall, the export price, however, recorded a pronounced decrease. The pace of growth appeared the most rapid in 2015 an increase of X%. As a result, the export price attained the peak level of $X per square meter. From 2016 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per square meter), while the average price for exports to the United Arab Emirates ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Imports

Imports into Oman

In 2023, approx. X square meters of leather were imported into Oman; waning by X% compared with the year before. In general, imports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X square meters in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, leather imports rose remarkably to $X in 2023. Overall, imports recorded a mild decrease. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2023, imports remained at a lower figure.

Imports by Country

Turkey (X square meters), Thailand (X square meters) and India (X square meters) were the main suppliers of leather imports to Oman, with a combined X% share of total imports. Italy, Lebanon, Pakistan, China and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lebanon (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest leather suppliers to Oman were Turkey ($X), Thailand ($X) and Italy ($X), with a combined X% share of total imports. Lebanon, India, Pakistan, China and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Lebanon, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average leather import price stood at $X per square meter in 2023, increasing by X% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, leather import price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2022 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per square meter), while the price for India ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lebanon (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform