Iraq: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Iraq

The Iraqi market for iron or steel gas domestic cooking appliances and plate warmers soared to $X in 2022, with an increase of 16% 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). In general, consumption recorded a strong increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports from Iraq

In 2022, approx. X units of iron or steel gas domestic cooking appliances and plate warmers were exported from Iraq; which is down by -29.7% on the previous year's figure. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 911% against the previous year. As a result, the exports reached the peak of X units, and then plummeted in the following year.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers dropped dramatically to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of 290% against the previous year. The exports peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

The United States (X units) was the main destination for exports of iron or steel gas domestic cooking appliances and plate warmers from Iraq, accounting for a 88% share of total exports. Moreover, exports of iron or steel gas domestic cooking appliances and plate warmers to the United States exceeded the volume sent to the second major destination, Germany (X units), eightfold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +236.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+30.2% per year) and Turkey (-6.7% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel gas domestic cooking appliances and plate warmers exports from Iraq, comprising 82% of total exports. The second position in the ranking was held by Germany ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+36.7% per year) and Turkey (+24.9% per year).

Export Prices by Country

In 2022, the average export price for iron or steel gas domestic cooking appliances and plate warmers amounted to $X per unit, surging by 9.1% against the previous year. Over the period under review, the export price showed a moderate increase. The pace of growth appeared the most rapid in 2020 an increase of 202% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to the United States ($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 Canada (+84.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports into Iraq

In 2022, the amount of iron or steel gas domestic cooking appliances and plate warmers imported into Iraq skyrocketed to X units, growing by 47% against 2021. Overall, imports showed a notable expansion. The growth pace was the most rapid in 2015 when imports increased by 279%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers expanded rapidly to $X in 2022. Over the period under review, imports saw a prominent expansion. The pace of growth was the most pronounced in 2015 with an increase of 287% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X units), Egypt (X units) and China (X units) were the main suppliers of imports of iron or steel gas domestic cooking appliances and plate warmers to Iraq, together comprising 95% of total imports. These countries were followed by the United Arab Emirates, which accounted for a further 2.7%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Egypt ($X) and China ($X) were the largest iron or steel gas domestic cooking appliances and plate warmers suppliers to Iraq, with a combined 94% share of total imports.

China, with a CAGR of +24.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for iron or steel gas domestic cooking appliances and plate warmers amounted to $X per unit, declining by -27.7% against the previous year. In general, the import price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2021 when the average import price increased by 72%. As a result, import price attained the peak level of $X per unit, and then reduced sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+25.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform