Iraq: Motorcycle And Bicycle Market 2024

Motorcycle And Bicycle Market Size in Iraq

In 2021, after three years of growth, there was significant decline in the Iraqi motorcycle and bicycle market, when its value decreased by -38.7% to $X. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then fell dramatically in the following year.

Motorcycle And Bicycle Production in Iraq

In value terms, motorcycle and bicycle production declined modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 151%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Motorcycle And Bicycle Exports

Exports from Iraq

In 2021, motorcycle and bicycle exports from Iraq surged to X units, growing by 40% on 2020 figures. Overall, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 150%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, motorcycle and bicycle exports fell to $X in 2021. In general, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 69%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X units) and Angola (X units) were the main destinations of motorcycle and bicycle exports from Iraq. Moreover, motorcycle and bicycle exports in the Netherlands exceeded the figures recorded by the second-largest exporter, Angola, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +26.0%).

In value terms, Angola ($X) remains the key foreign market for motorcycles and bicycles exports from Iraq, comprising 72% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 34% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Angola amounted to +7.9%.

Export Prices by Country

In 2021, the average motorcycle and bicycle export price amounted to $X per unit, with a decrease of -37.4% against the previous year. In general, the export price saw a deep downturn. The pace of growth was the most pronounced in 2015 when the average export price increased by 69%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per unit), while the average price for exports to the Netherlands stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+49.5%), while the prices for the other major destinations experienced mixed trend patterns.

Motorcycle And Bicycle Imports

Imports into Iraq

After three years of growth, supplies from abroad of motorcycles and bicycles decreased by -43.5% to X units in 2021. Overall, imports, however, saw temperate growth. The growth pace was the most rapid in 2019 when imports increased by 107%. Imports peaked at X units in 2020, and then contracted rapidly in the following year.

In value terms, motorcycle and bicycle imports dropped dramatically to $X in 2021. Over the period under review, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -33.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 88%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of motorcycle and bicycle to Iraq, accounting for a 107% share of total imports. Moreover, motorcycle and bicycle imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), fivefold. The third position in this ranking was taken by Japan (X units), with a 20% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-1.6% per year) and Japan (+17.7% per year).

In value terms, China ($X) constituted the largest supplier of motorcycles and bicycles to Iraq, comprising 99% of total imports. The second position in the ranking was taken by India ($X), with a 19% share of total imports. It was followed by Taiwan (Chinese), with a 14% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+38.6% per year) and Taiwan (Chinese) (+40.2% per year).

Import Prices by Country

The average motorcycle and bicycle import price stood at $X per unit in 2021, surging by 28% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 134%. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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