Iraq: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Iraq

After two years of growth, the Iraqi electrical circuit apparatus market decreased by -5.2% to $X in 2021. The market value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Electrical circuit apparatus consumption peaked at $X in 2020, and then reduced in the following year.

Electrical Circuit Apparatus Exports

Exports from Iraq

In 2021, shipments abroad of electrical apparatus for circuit connection, switching and protection increased by 63% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 597% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical circuit apparatus exports surged to $X in 2021. In general, exports recorded resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 225%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Italy (X tons) was the main destination for electrical circuit apparatus exports from Iraq, with a 58% share of total exports. Moreover, electrical circuit apparatus exports to Italy exceeded the volume sent to the second major destination, Switzerland (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy stood at +171.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+1.4% per year) and the Netherlands (+76.8% per year).

In value terms, the Netherlands ($X), Italy ($X) and Switzerland ($X) appeared to be the largest markets for electrical circuit apparatus exported from Iraq worldwide, together accounting for 73% of total exports.

Italy, with a CAGR of +144.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per ton, increasing by 17% against the previous year. Overall, the export price, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+15.6%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Circuit Apparatus Imports

Imports into Iraq

In 2021, purchases abroad of electrical apparatus for circuit connection, switching and protection decreased by -5.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.6% against 2012 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then contracted in the following year.

In value terms, electrical circuit apparatus imports reduced slightly to $X in 2021. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 20% against the previous year. Imports peaked at $X in 2020, and then fell in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest electrical circuit apparatus supplier to Iraq, with a 72% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), tenfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-2.5% per year) and the United Arab Emirates (+6.6% per year).

In value terms, China ($X) constituted the largest supplier of electrical circuit apparatus to Iraq, comprising 46% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Turkey, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+10.2% per year) and Turkey (-4.4% per year).

Import Prices by Country

The average electrical circuit apparatus import price stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, the import price, however, recorded a perceptible slump. The pace of growth was the most pronounced in 2016 an increase of 5.4%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+21.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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