Iraq: Hat And Headgear Market 2024

Hat And Headgear Market Size in Iraq

In 2022, the Iraqi hat and headgear market increased by 7.6% to $X, rising for the second consecutive year after three years of decline. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +40.5% against 2020 indices. Hat and headgear consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Hat And Headgear Exports

Exports from Iraq

Hat and headgear exports from Iraq skyrocketed to X units in 2022, with an increase of 2,640% on 2021 figures. Over the period under review, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hat and headgear exports soared to $X in 2022. In general, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by 89% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X units) was the main destination for hat and headgear exports from Iraq, accounting for a 90% share of total exports. Moreover, hat and headgear exports to Turkey exceeded the volume sent to the second major destination, the Netherlands (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Turkey amounted to +53.8%.

In value terms, Turkey ($X) remains the key foreign market for hats and other headgear exports from Iraq, comprising 87% of total exports. The second position in the ranking was held by the Netherlands ($X), with an 8.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey stood at +11.6%.

Export Prices by Country

In 2022, the average hat and headgear export price amounted to $X per unit, dropping by -93.6% against the previous year. In general, the export price continues to indicate a significant curtailment. The pace of growth was the most pronounced in 2018 an increase of 36%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external 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 Netherlands (-14.5%).

Hat And Headgear Imports

Imports into Iraq

In 2022, supplies from abroad of hats and other headgear increased by 39% to X units, rising for the second consecutive year after three years of decline. Overall, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +129.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 65% against the previous year. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, hat and headgear imports declined to $X in 2022. Over the period under review, imports showed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 41%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest hat and headgear supplier to Iraq, accounting for a 71% share of total imports. Moreover, hat and headgear imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), fivefold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+11.2% per year) and the United Arab Emirates (+0.4% per year).

In value terms, China ($X) constituted the largest supplier of hats and other headgear to Iraq, comprising 74% of total imports. The second position in the ranking was taken by Turkey ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+5.5% per year) and the United Arab Emirates (+7.1% per year).

Import Prices by Country

In 2022, the average hat and headgear import price amounted to $X per unit, waning by -33.6% against the previous year. In general, the import price, however, posted a modest increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 68%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :