Middle East: Fertilizer Market 2024

Fertilizer Market Size in the Middle East

The Middle Eastern fertilizer market reached $X in 2023, growing by X% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2023: its value 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, consumption increased by X% against 2019 indices. The level of consumption peaked in 2023 and is expected to retain growth in the immediate term.

Fertilizer Production in the Middle East

In value terms, fertilizer production stood at $X in 2023 estimated in export price. In general, production saw buoyant growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Fertilizer Exports

Exports in the Middle East

In 2023, approx. X tons of fertilizers were exported in the Middle East; growing by X% on the previous year's figure. Total exports indicated a temperate expansion from 2012 to 2023: its volume 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, exports decreased by X% against 2021 indices. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, fertilizer exports soared to $X in 2023. In general, exports saw a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the near future.

Exports by Country

Saudi Arabia represented the key exporting country with an export of around X tons, which accounted for X% of total exports. Oman (X tons) held the second position in the ranking, followed by Jordan (X tons), the United Arab Emirates (X tons), Iran (X tons), Turkey (X tons) and Israel (X tons). All these countries together held near X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to fertilizer exports from Saudi Arabia stood at X%. At the same time, Turkey (X%), the United Arab Emirates (X%), Israel (X%) and Oman (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. Jordan and Iran experienced a relatively flat trend pattern. While the share of Saudi Arabia (X p.p.), the United Arab Emirates (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Oman (X p.p.), Jordan (X p.p.) and Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) emerged as the largest fertilizer supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Jordan ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In Saudi Arabia, fertilizer exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Jordan (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, with an increase of X% against the previous year. In general, the export price enjoyed notable growth. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Fertilizer Imports

Imports in the Middle East

In 2023, supplies from abroad of fertilizers decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, fertilizer imports reduced dramatically to $X in 2023. Total imports indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then dropped sharply in the following year.

Imports by Country

Turkey dominates imports structure, finishing at X tons, which was near X% of total imports in 2023. Iraq (X tons), Iran (X tons), the United Arab Emirates (X tons), Israel (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to fertilizer imports into Turkey stood at X%. At the same time, Iraq (X%), the United Arab Emirates (X%) and Israel (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 2012-2023. Iran experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey and Iraq increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported fertilizers in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Iran ($X), with a X% share of total imports. It was followed by Iraq, with a X% share.

In Turkey, fertilizer imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Iran (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 2023, shrinking by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2022, and then declined dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Iran ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform