Iraq: Blanket Market 2024

Blanket Market Size in Iraq

The Iraqi blanket market skyrocketed to $X in 2022, increasing by 17% against the previous year. In general, consumption, however, recorded a slight decrease. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Blanket Production in Iraq

In value terms, blanket production totaled $X in 2022 estimated in export price. Over the period under review, production showed a strong expansion. The growth pace was the most rapid in 2013 when the production volume increased by 59% against the previous year. Blanket production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Blanket Exports

Exports from Iraq

After four years of decline, shipments abroad of blankets and traveling rugs (except electric blankets) increased by 204% to X tons in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 9,399%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, blanket exports surged to $X in 2022. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 8,327%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Jordan (X tons) was the main destination for blanket exports from Iraq, accounting for a 33% share of total exports. Moreover, blanket exports to Jordan exceeded the volume sent to the second major destination, Turkey (X kg), fourfold. The third position in this ranking was held by Germany (X kg), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Jordan totaled +80.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+3.2% per year) and Germany (+56.0% per year).

In value terms, the largest markets for blanket exported from Iraq were Jordan ($X), Germany ($X) and Turkey ($X), with a combined 55% share of total exports.

In terms of the main countries of destination, Jordan, with a CAGR of +65.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average blanket export price stood at $X per ton in 2022, reducing by -54.1% against the previous year. Overall, the export price showed a perceptible contraction. The growth pace was the most rapid in 2021 an increase of 184%. As a result, the export price attained the peak level of $X per ton, and then fell significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Jordan ($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 (+2.3%), while the prices for the other major destinations experienced a decline.

Blanket Imports

Imports into Iraq

In 2022, the amount of blankets and traveling rugs (except electric blankets) imported into Iraq skyrocketed to X tons, with an increase of 23% compared with 2021 figures. Overall, imports, however, saw a mild descent. The most prominent rate of growth was recorded in 2017 when imports increased by 53%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, blanket imports rose sharply to $X in 2022. In general, imports, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2017 when imports increased by 43% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of blanket to Iraq, accounting for a 97% share of total imports. Moreover, blanket imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-18.9% per year) and the United Arab Emirates (-16.6% per year).

In value terms, China ($X) constituted the largest supplier of blankets and traveling rugs (except electric blankets) to Iraq, comprising 92% of total imports. The second position in the ranking was taken by Turkey ($X), with a 3.1% share of total imports. It was followed by Iran, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-20.4% per year) and Iran (-3.5% per year).

Import Prices by Country

The average blanket import price stood at $X per ton in 2022, shrinking by -8.1% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 31%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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