Iraq: Pliers And Pincers Market 2024

Pliers And Pincers Market Size in Iraq

After two years of growth, the Iraqi pliers and pincers market decreased by -8.6% to $X in 2021. Over the period under review, consumption, however, posted a prominent expansion. Pliers and pincers consumption peaked at $X in 2020, and then declined in the following year.

Pliers And Pincers Exports

Exports from Iraq

After three years of decline, overseas shipments of pliers, pincers and tweezers for nonmedical use increased by 1,250% to X kg in 2021. Overall, exports continue to indicate a prominent expansion. The exports peaked at X kg in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, pliers and pincers exports soared to $X in 2021. Over the period under review, exports saw prominent growth. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X kg) was the main destination for pliers and pincers exports from Iraq, accounting for a 67% share of total exports. Moreover, pliers and pincers exports to the United Arab Emirates exceeded the volume sent to the second major destination, Romania (X kg), threefold.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+22.0% per year) and Turkey (-9.0% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for pliers, pincers and tweezers for nonmedical use exports from Iraq, comprising 72% of total exports. The second position in the ranking was held by Romania ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+19.6% per year) and Turkey (-7.4% per year).

Export Prices by Country

The average pliers and pincers export price stood at $X per ton in 2021, growing by 45% against the previous year. Overall, the export price continues to indicate a temperate expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 172%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+1.7%), while the prices for the other major destinations experienced a decline.

Pliers And Pincers Imports

Imports into Iraq

In 2021, after two years of growth, there was significant decline in overseas purchases of pliers, pincers and tweezers for nonmedical use, when their volume decreased by -10.1% to X tons. Overall, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 116% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then declined in the following year.

In value terms, pliers and pincers imports fell to $X in 2021. In general, imports, however, recorded a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 62% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020, and then shrank in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of pliers and pincers to Iraq, with a 76% share of total imports. Moreover, pliers and pincers imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+53.8% per year) and India (+72.3% per year).

In value terms, China ($X) constituted the largest supplier of pliers, pincers and tweezers for nonmedical use to Iraq, comprising 80% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+26.6% per year) and India (+54.0% per year).

Import Prices by Country

In 2021, the average pliers and pincers import price amounted to $X per ton, increasing by 3.7% against the previous year. In general, the import price, however, continues to indicate a deep contraction. The pace of growth was the most pronounced in 2015 when the average import price increased by 31%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, 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 China ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-5.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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