Commodities - Western Asia

Western Asia

The nominal value in the Commodities market is projected to reach US$850.10bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 4.03% resulting in a projected total amount of US$1,036.00bn by 2029.
The average price per contract in the Commodities market amounts to US$0.00 in 2024.
From a global comparison perspective it is shown that the highest nominal value is reached in the United States (US$53,690.00bn in 2024).
In the Commodities market, the number of contracts is expected to amount to 390.30m by 2029.

Market

Region

Region comparison

Currency

Analyst Opinion

The Commodities market in Western Asia is experiencing a significant shift in recent years. Customer preferences in the region are leaning towards more diverse investment options, including Commodities, as investors seek to diversify their portfolios and hedge against market volatility.

Trends in the market indicate a growing interest in Commodities trading, driven by the region's strategic location as a hub for global trade and commerce. This has led to an increase in liquidity and trading volume in the market. Local special circumstances, such as geopolitical tensions and economic diversification efforts, are influencing the development of the Commodities market in Western Asia.

These factors create both challenges and opportunities for market participants, shaping the dynamics of the market. Underlying macroeconomic factors, such as fluctuations in oil prices, government policies, and global economic conditions, play a crucial role in driving the growth of the Commodities market in Western Asia. These factors impact investor sentiment and market performance, shaping the overall trajectory of the market.

Methodology

Data coverage:

Figures are based on commodity derivatives, their notional value, the number of contracts traded, the open interest (outstanding contracts at the end of a year), and the average value of a contract.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use market research & analysis, and data of World Bank, as well as the World Federation of Exchanges. Furthermore, we use relevant key market indicators and data from country-specific associations and national data bureaus such as GDP, wealth per capita, and the online banking penetration rate. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. In this market, we use the HOLT-damped Trend method to forecast future development. The main drivers are GDP per capita an the online banking penetration rate.

Additional Notes:

The market is updated twice per year in case market dynamics change.