Iraq: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports from Iraq

After three years of growth, overseas shipments of buckets, shovels, grabs and grips for ships’ derricks and cranes decreased by -43.3% to X units in 2022. Overall, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2015 with an increase of 700%. The exports peaked at X units in 2021, and then declined significantly in the following year.

In value terms, ship derrick buckets and shovels exports shrank significantly to $X in 2022. In general, exports continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 892% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined remarkably in the following year.

Exports by Country

The Netherlands (X units) was the main destination for ship derrick buckets and shovels exports from Iraq, with a 47% share of total exports. Moreover, ship derrick buckets and shovels exports to the Netherlands exceeded the volume sent to the second major destination, Turkey (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands was relatively modest.

In value terms, the Netherlands ($X) emerged as the key foreign market for buckets, shovels, grabs and grips for ships’ derricks and cranes exports from Iraq, comprising 47% of total exports. The second position in the ranking was taken by Turkey ($X), with a 5.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Netherlands was relatively modest.

Export Prices by Country

The average export price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, picking up by 21% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ship derrick buckets and shovels export price decreased by -5.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 37%. Over the period under review, the average export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Turkey amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+817.2%).

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports into Iraq

In 2022, overseas purchases of buckets, shovels, grabs and grips for ships’ derricks and cranes increased by 11% to X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a perceptible decline. The growth pace was the most rapid in 2015 with an increase of 50% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, ship derrick buckets and shovels imports expanded significantly to $X in 2022. Overall, imports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 36%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X units) constituted the largest supplier of ship derrick buckets and shovels to Iraq, accounting for a 43% share of total imports. Moreover, ship derrick buckets and shovels imports from Turkey exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), threefold. China (X units) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+20.4% per year) and China (-13.9% per year).

In value terms, the largest ship derrick buckets and shovels suppliers to Iraq were Turkey ($X), South Korea ($X) and Belgium ($X), together accounting for 59% of total imports. Malaysia, China, the United Arab Emirates, Italy, the Czech Republic, Germany and the UK lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +22.2%, saw the highest growth rate of the value of imports, 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 import price for buckets, shovels, grabs and grips for ships’ derricks and cranes amounted to $X per unit, surging by 3.6% against the previous year. Over the period under review, the import price, however, saw a mild decrease. The growth pace was the most rapid in 2014 an increase of 37%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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