Iraq: Biological Product Market 2024

Biological Product Market Size in Iraq

In 2022, the Iraqi biological product market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded strong growth. Biological product consumption peaked in 2022 and is likely to see steady growth in years to come.

Biological Product Exports

Exports from Iraq

In 2022, overseas shipments of biological products increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, biological product exports soared to $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Germany (X tons), Austria (X tons) and Denmark (X tons) were the main destinations of biological product exports from Iraq, together comprising X% of total exports. The Netherlands, South Korea, the United States and Turkey lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) emerged as the key foreign market for biological products exports from Iraq, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by Austria, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Austria (X% per year).

Export Prices by Country

In 2022, the average biological product export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price recorded a pronounced decline. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. As a result, the export price reached the peak level of $X,209 per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X,215 per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into Iraq

In 2022, the amount of biological products imported into Iraq fell to X tons, waning by X% on the year before. Over the period under review, imports, however, posted a resilient expansion. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, biological product imports expanded rapidly to $X in 2022. In general, imports, however, recorded a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Switzerland (X tons), Saudi Arabia (X tons) and China (X tons) were the main suppliers of biological product imports to Iraq, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest biological product suppliers to Iraq were Switzerland ($X), Belgium ($X) and Germany ($X), with a combined X% share of total imports. The UK, the United States, China, the United Arab Emirates, France, South Korea, Italy and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

The United States, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average biological product import price amounted to $X per ton, surging by X% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, biological product import price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X,801 per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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