Iraq: Safes And Strongboxes Market 2025

Safes And Strongboxes Market Size in Iraq

For the fourth year in a row, the Iraqi safes and strongboxes market recorded growth in sales value, which increased by 0.7% to $X in 2021. In general, consumption saw a resilient expansion. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the near future.

Safes And Strongboxes Exports

Exports from Iraq

In 2021, shipments abroad of safes, strongboxes and doors of base metal decreased by 0% to X kg for the first time since 2017, thus ending a three-year rising trend. Overall, exports posted resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by 92% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, safes and strongboxes exports fell modestly to $X in 2021. In general, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 80%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X kg) was the main destination for safes and strongboxes exports from Iraq, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey totaled +14.2%.

In value terms, Turkey ($X) also remains the key foreign market for safes, strongboxes and doors of base metal exports from Iraq.

From 2012 to 2021, the average annual growth rate of value to Turkey amounted to +9.3%.

Export Prices by Country

The average safes and strongboxes export price stood at $X per ton in 2021, which is down by -4.1% against the previous year. In general, the export price saw a pronounced setback. The pace of growth appeared the most rapid in 2017 an increase of 81% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to -4.3% per year.

Safes And Strongboxes Imports

Imports into Iraq

In 2021, the amount of safes, strongboxes and doors of base metal imported into Iraq expanded slightly to X tons, growing by 1.7% against the previous year. Over the period under review, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by 78%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, safes and strongboxes imports amounted to $X in 2021. Overall, imports recorded a resilient increase. The growth pace was the most rapid in 2018 when imports increased by 69%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

China (X tons), South Korea (X tons) and Turkey (X tons) were the main suppliers of safes and strongboxes imports to Iraq, together comprising 56% of total imports. These countries were followed by the United Arab Emirates, Vietnam, the UK, Iran and France, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +57.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of safes, strongboxes and doors of base metal to Iraq, comprising 37% of total imports. The second position in the ranking was taken by Turkey ($X), with a 13% share of total imports. It was followed by Vietnam, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+8.3% per year) and Vietnam (+60.4% per year).

Import Prices by Country

The average safes and strongboxes import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, safes and strongboxes import price increased by +80.6% against 2017 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 38% against the previous year. The import price peaked at $X per ton in 2020, and then fell modestly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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