Iraq: Festive Articles Market 2024

Festive Articles Market Size in Iraq

In 2022, after two years of growth, there was significant decline in the Iraqi festive articles market, when its value decreased by -12.4% to $X. In general, consumption, however, showed a significant increase. Festive articles consumption peaked at $X in 2021, and then reduced in the following year.

Festive Articles Exports

Exports from Iraq

In 2022, overseas shipments of festive or carnival articles increased by 3.3% to X kg, rising for the third year in a row after four years of decline. In general, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2015 when exports increased by 152%. As a result, the exports reached the peak of X kg. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, festive articles exports dropped rapidly to $X in 2022. Over the period under review, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2021 when exports increased by 87% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X kg), Uganda (X kg) and France (X kg) were the main destinations of festive articles exports from Iraq, together accounting for 74% of total exports. Moreover, festive articles exports in Sweden exceeded the figures recorded by the second-largest exporter, Uganda, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for festive articles exported from Iraq were Uganda ($X), France ($X) and Sweden ($X), with a combined 76% share of total exports. Moreover, festive articles exports in Uganda exceeded the figures recorded by the second-largest exporter, France, twofold.

In terms of the main countries of destination, France, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average festive articles export price amounted to $X per ton, dropping by -26.3% against the previous year. In general, the export price saw a deep setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by 88% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Uganda ($X per ton), while the average price for exports to Austria ($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 Uganda (+2.7%), while the prices for the other major destinations experienced a decline.

Festive Articles Imports

Imports into Iraq

In 2022, after two years of growth, there was significant decline in overseas purchases of festive or carnival articles, when their volume decreased by -13.9% to X tons. In general, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 199% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, festive articles imports contracted to $X in 2022. Overall, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 204%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

China (X tons), Iran (X tons) and Lebanon (X tons) were the main suppliers of festive articles imports to Iraq, together comprising 99% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +76.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of festive or carnival articles to Iraq, comprising 76% of total imports. The second position in the ranking was taken by Iran ($X), with a 22% share of total imports. It was followed by Lebanon, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +99.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+22.6% per year) and Lebanon (+3.9% per year).

Import Prices by Country

The average festive articles import price stood at $X per ton in 2022, surging by 2.5% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, festive articles import price decreased by -3.2% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 32%. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Turkey ($X per ton), while the price for Lebanon ($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 (+12.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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