Iraq: Acyclic Hydrocarbons Market 2022

Acyclic Hydrocarbons Market Size in Iraq

After three years of growth, the Iraqi acyclic hydrocarbons market decreased by -X% to $X in 2020. Over the period under review, the total consumption indicated a moderate expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2009 indices. The most prominent rate of growth was recorded in 2012 when the market value increased by X% against the previous year. Over the period under review, the market attained the peak level at $X in 2019, and then declined slightly in the following year.

Acyclic Hydrocarbons Production in Iraq

In value terms, acyclic hydrocarbons production declined slightly to $X in 2020 estimated in export prices. In general, the total production indicated perceptible growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2012 when the production volume increased by X% y-o-y. Acyclic hydrocarbons production peaked at $X in 2019, and then dropped slightly in the following year.

Acyclic Hydrocarbons Exports

Exports from Iraq

Acyclic hydrocarbons exports from Iraq contracted remarkably to X kg in 2020, with a decrease of -X% on the previous year's figure. Over the period under review, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2011 when exports increased by X% year-to-year. Over the period under review, exports attained the peak figure at X tons in 2018; however, from 2019 to 2020, exports remained at a lower figure.

In value terms, acyclic hydrocarbons exports reduced rapidly to $X in 2020. In general, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2008 when exports increased by X% year-to-year. Exports peaked at $X in 2018; however, from 2019 to 2020, exports failed to regain the momentum.

Exports by Country

The Philippines (X tons) was the main destination for acyclic hydrocarbons exports from Iraq, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of volume to the Philippines stood at -X%.

In value terms, the Philippines ($X) also remains the key foreign market for acyclic hydrocarbons exports from Iraq.

From 2007 to 2019, the average annual rate of growth in terms of value to the Philippines totaled -X%.

Export Prices by Country

The average acyclic hydrocarbons export price stood at $X per ton in 2019, therefore, remained relatively stable against the previous year. In general, the export price, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2008 when the average export price increased by X% y-o-y. The export price peaked at $X per ton in 2018, and then shrank slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for the Philippines.

From 2007 to 2019, the rate of growth in terms of prices for the Philippines amounted to -X% per year.

Acyclic Hydrocarbons Imports

Imports into Iraq

In 2020, acyclic hydrocarbons imports into Iraq skyrocketed to X tons, with an increase of X% on 2019. In general, imports saw a significant increase. The growth pace was the most rapid in 2018 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure in 2020 and are expected to retain growth in the near future.

In value terms, acyclic hydrocarbons imports expanded modestly to $X in 2020. Overall, imports showed a tangible increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2020 and are likely to continue growth in the near future.

Imports by Country

In 2020, India (X tons) constituted the largest supplier of acyclic hydrocarbons to Iraq, with a X% share of total imports. Moreover, acyclic hydrocarbons imports from India exceeded the figures recorded by the second-largest supplier, Greece (X tons), fivefold. The third position in this ranking was occupied by Turkey (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from India totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+X% per year) and Turkey (+X% per year).

In value terms, Spain ($X), India ($X) and Greece ($X) constituted the largest acyclic hydrocarbons suppliers to Iraq, together accounting for X% of total imports.

Greece (+X% per year) saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average acyclic hydrocarbons import price stood at $X per ton in 2020, with a decrease of -X% against the previous year. In general, the import price continues to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2007; however, from 2008 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Spain ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Spain, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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