Iraq: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in Iraq

The Iraqi non-combined refrigerator-freezer market reached $X in 2022, growing by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.1% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Non-Combined Refrigerator-Freezer Exports

Exports from Iraq

In 2022, overseas shipments of household refrigerators and freezers (not combined) decreased by -80.3% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 2,975%. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, non-combined refrigerator-freezer exports declined dramatically to $X in 2022. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2015 with an increase of 3,152%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X units) was the main destination for non-combined refrigerator-freezer exports from Iraq, with a 84% share of total exports. Moreover, non-combined refrigerator-freezer 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 stood at +38.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-20.6% per year) and Egypt (-29.3% per year).

In value terms, Turkey ($X) emerged as the key foreign market for household refrigerators and freezers (not combined) exports from Iraq, comprising 92% of total exports. The second position in the ranking was held by Egypt ($X), with a 2.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey amounted to +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-34.7% per year) and the Netherlands (-45.3% per year).

Export Prices by Country

In 2022, the average non-combined refrigerator-freezer export price amounted to $X per unit, dropping by -27.1% against the previous year. In general, the export price recorded a abrupt contraction. The growth pace was the most rapid in 2021 when the average export price increased by 77%. Over the period under review, the average export prices attained the maximum at $X per unit 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (+82.4%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Combined Refrigerator-Freezer Imports

Imports into Iraq

In 2022, the amount of household refrigerators and freezers (not combined) imported into Iraq rose sharply to X units, growing by 11% against the previous year. In general, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.2% against 2020 indices. The growth pace was the most rapid in 2019 when imports increased by 36%. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, non-combined refrigerator-freezer imports expanded sharply to $X in 2022. Overall, total imports indicated a moderate expansion from 2012 to 2022: its value 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, imports decreased by -10.1% against 2020 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 56%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest non-combined refrigerator-freezer supplier to Iraq, accounting for a 69% share of total imports. Moreover, non-combined refrigerator-freezer imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), fivefold. The third position in this ranking was held by the United Arab Emirates (X units), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-2.6% per year) and the United Arab Emirates (-3.6% per year).

In value terms, China ($X) constituted the largest supplier of household refrigerators and freezers (not combined) to Iraq, comprising 45% of total imports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total imports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-2.7% per year) and the United Arab Emirates (+6.8% per year).

Import Prices by Country

The average non-combined refrigerator-freezer import price stood at $X per unit in 2022, increasing by 1.6% against the previous year. Over the period under review, the import price, however, showed a slight setback. The pace of growth appeared the most rapid in 2019 an increase of 15% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for China ($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 (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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