Report Update Nov 1, 2024

Iraq - Gold - Market Analysis, Forecast, Size, Trends and Insights

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Iraq: Gold Market 2024

Gold Market Size in Iraq

The Iraqi gold market declined remarkably to $X in 2021, waning by -45.3% against the previous year. Over the period under review, consumption, however, showed significant growth. Over the period under review, the market hit record highs at $X in 2020, and then fell dramatically in the following year.

Gold Production in Iraq

In value terms, gold production shrank to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 13%. As a result, production reached the peak level of $X, and then contracted in the following year.

Gold Exports

Exports from Iraq

In 2021, the amount of gold exported from Iraq contracted sharply to X tons, shrinking by -23.7% against 2020. In general, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 125% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, gold exports declined to $X in 2021. Overall, exports showed a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of 139% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for gold exports from Iraq, with a 97% share of total exports. It was followed by the United Arab Emirates (X tons), with a 2.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +24.1%.

In value terms, Turkey ($X) remains the key foreign market for gold exports from Iraq, comprising 97% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled +22.8%.

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, with an increase of 18% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per kg), while the average price for exports to Turkey totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+1.3%).

Gold Imports

Imports into Iraq

After four years of growth, overseas purchases of gold decreased by -92.2% to X tons in 2021. Over the period under review, imports, however, posted a significant expansion. The growth pace was the most rapid in 2015 with an increase of 2,254%. Imports peaked at X tons in 2020, and then contracted dramatically in the following year.

In value terms, gold imports dropped remarkably to $X in 2021. In general, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 2,718%. Over the period under review, imports attained the peak figure at $X in 2020, and then fell dramatically in the following year.

Imports by Country

In 2021, Turkey (X tons) constituted the largest gold supplier to Iraq, accounting for a 72% share of total imports. Moreover, gold imports from Turkey exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +54.0%.

In value terms, Turkey ($X) and the United Arab Emirates ($X) constituted the largest gold suppliers to Iraq.

Among the main suppliers, Turkey, with a CAGR of +29.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, jumping by 25% against the previous year. Over the period under review, the import price, however, recorded a abrupt contraction. Over the period under review, average import prices reached the peak figure at $X per kg in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per kg), while the price for Turkey stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-15.9%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for gold in the world?

The countries with the highest volumes of gold consumption in 2020 were the UK, Switzerland and China, with a combined 41% share of global consumption.

What are the largest producers of gold in the world?

The countries with the highest volumes of gold production in 2020 were Russia, Argentina and South Africa, together comprising 19% of global production. Hong Kong SAR, Australia, China, Peru, Thailand, the United Arab Emirates, Singapore, Japan, the United States and Canada lagged somewhat behind, together accounting for a further 41%.

What are the leading suppliers of gold to Iraq?

In value terms, the United Arab Emirates constituted the largest supplier of gold to Iraq.

What are the leading importers of gold from Iraq?

In value terms, Turkey remains the key foreign market for gold exports from Iraq, comprising 80% of total exports. The second position in the ranking was occupied by the United Arab Emirates, with a 20% share of total exports.

What is the average export price for gold in Iraq?

The average gold export price stood at $38,697 per kg in 2020, increasing by 1.6% against the previous year.

What is the average import price for gold in Iraq?

The average gold import price stood at $44,905 per kg in 2019, picking up by 12% against the previous year.

This report provides an in-depth analysis of the gold market in Iraq. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24412030 - Gold, unwrought or in powder form for non-monetary use (including plated with platinum)
Prodcom 24412035 -
Prodcom 24412040 -
Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)
Prodcom 24412070 - Monetary gold (including gold plated with platinum)

Country coverage:

Iraq

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iraq
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023