Iraq: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Iraq

The Iraqi plastic ornamental articles market surged to $X in 2022, jumping by 44% 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, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -23.2% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Plastic Ornamental Articles Exports

Exports from Iraq

In 2022, the amount of statuettes and other ornamental articles of plastic exported from Iraq fell to X kg, declining by -6.3% compared with 2021 figures. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 1,243%. Over the period under review, the exports hit record highs at X kg in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, plastic ornamental articles exports declined to $X in 2022. In general, exports, however, enjoyed perceptible growth. The growth pace was the most rapid in 2015 when exports increased by 2,578% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Denmark (X kg) was the main destination for plastic ornamental articles exports from Iraq, with a approx. 25% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Denmark stood at -13.7%.

In value terms, Denmark ($X) emerged as the key foreign market for statuettes and other ornamental articles of plastic exports from Iraq.

From 2012 to 2022, the average annual rate of growth in terms of value to Denmark stood at -11.1%.

Export Prices by Country

In 2022, the average plastic ornamental articles export price amounted to $X per ton, with an increase of 2.7% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the average export price increased by 99%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Denmark amounted to +3.0% per year.

Plastic Ornamental Articles Imports

Imports into Iraq

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were imported into Iraq; with an increase of 23% on the previous year's figure. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 84% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, plastic ornamental articles imports skyrocketed to $X in 2022. In general, imports continue to indicate resilient growth. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic ornamental articles to Iraq, accounting for a 87% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, Iran (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+19.0% per year) and Turkey (+17.2% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Iraq, comprising 94% of total imports. The second position in the ranking was taken by Iran ($X), with a 2.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+17.0% per year) and Turkey (+14.7% per year).

Import Prices by Country

In 2022, the average plastic ornamental articles import price amounted to $X per ton, jumping by 28% against the previous year. Over the period under review, the import price recorded strong growth. The pace of growth appeared the most rapid in 2016 an increase of 66%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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