Iraq: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Iraq

In 2021, the Iraqi market for instruments for measuring electrical quantities decreased by -2.8% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, showed prominent growth. Instruments for measuring electrical quantities consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports from Iraq

In 2021, overseas shipments of instruments for measuring electrical quantities decreased by -29.7% to X units, falling for the third year in a row after three years of growth. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 313%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, instruments for measuring electrical quantities exports soared to $X in 2021. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 356%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X units), the Netherlands (X units) and the United States (X units) were the main destinations of instruments for measuring electrical quantities exports from Iraq, together accounting for 85% of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +486.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for instruments for measuring electrical quantities exported from Iraq were Italy ($X), the Netherlands ($X) and the United States ($X), together comprising 81% of total exports.

Italy, with a CAGR of +861.3%, recorded the highest growth rate of 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 export price for instruments for measuring electrical quantities amounted to $X per unit, rising by 80% against the previous year. Overall, the export price saw prominent growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by 169%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Argentina ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+63.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Iraq

In 2021, purchases abroad of instruments for measuring electrical quantities decreased by -5.3% to X units, falling for the second year in a row after two years of growth. Overall, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 132%. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, instruments for measuring electrical quantities imports reached $X in 2021. Over the period under review, imports, however, posted a temperate increase. The pace of growth was the most pronounced in 2013 with an increase of 196%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest instruments for measuring electrical quantities supplier to Iraq, accounting for a 69% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fivefold. The third position in this ranking was held by the United Arab Emirates (X units), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +31.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.3% per year) and the United Arab Emirates (+10.0% per year).

In value terms, China ($X) constituted the largest supplier of instruments for measuring electrical quantities to Iraq, comprising 48% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by the United States, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +25.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+13.5% per year) and the United States (-16.5% per year).

Import Prices by Country

In 2021, the average import price for instruments for measuring electrical quantities amounted to $X per unit, with an increase of 15% against the previous year. Overall, the import price, however, recorded a pronounced decline. The growth pace was the most rapid in 2014 when the average import price increased by 44%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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