Iraq: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Iraq

In 2021, the Iraqi spectacles and goggles market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption saw a abrupt decline. Spectacles and goggles consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Spectacles And Goggles Exports

Exports from Iraq

In 2021, approx. X units of spectacles and goggles were exported from Iraq; picking up by 142% on 2020. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2017 with an increase of 920%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, spectacles and goggles exports surged to $X in 2021. In general, exports saw a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 1,054%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

France (X units), the Netherlands (X units) and Sweden (X units) were the main destinations of spectacles and goggles exports from Iraq, with a combined 79% share of total exports.

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 +45.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spectacles and goggles exported from Iraq were France ($X), the Netherlands ($X) and Sweden ($X), with a combined 52% share of total exports. Denmark and South Africa lagged somewhat behind, together accounting for a further 9.2%.

Denmark, with a CAGR of +46.5%, recorded the highest growth rate of the value of exports, among 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

The average spectacles and goggles export price stood at $X per unit in 2021, growing by 55% against the previous year. Overall, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacles and goggles export price increased by +67.9% against 2018 indices. The most prominent rate of growth was recorded in 2015 an increase of 109%. Over the period under review, the average export prices attained the maximum at $X per unit in 2017; afterwards, it flattened through to 2021.

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 Netherlands ($X per unit), while the average price for exports to South Africa ($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 Denmark (+9.9%), while the prices for the other major destinations experienced mixed trend patterns.

Spectacles And Goggles Imports

Imports into Iraq

In 2021, supplies from abroad of spectacles and goggles decreased by -20.1% to X units, falling for the fourth consecutive year after three years of growth. In general, imports faced a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 53% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, spectacles and goggles imports soared to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of spectacles and goggles to Iraq, accounting for a 84% share of total imports. Moreover, spectacles and goggles imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), tenfold. The third position in this ranking was held by Turkey (X units), with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-12.5% per year) and Turkey (-24.0% per year).

In value terms, China ($X) constituted the largest supplier of spectacles and goggles to Iraq, comprising 91% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 3.5% share of total imports. It was followed by Italy, with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-23.9% per year) and Italy (+16.4% per year).

Import Prices by Country

The average spectacles and goggles import price stood at $X per unit in 2021, picking up by 63% against the previous year. Over the period under review, the import price showed a significant increase. The growth pace was the most rapid in 2020 an increase of 187% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

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 China ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+44.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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