Iraq: Tea Market 2024

Tea Market Size in Iraq

The Iraqi tea market contracted to $X in 2022, dropping by -5.3% 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, consumption, however, saw a relatively flat trend pattern. Tea consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Tea Exports

Exports from Iraq

Tea exports from Iraq skyrocketed to X tons in 2022, jumping by 34% compared with the year before. Overall, exports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 62%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tea exports skyrocketed to $X in 2022. In general, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 120% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for tea exports from Iraq, with a 60% share of total exports. Moreover, tea exports to Turkey exceeded the volume sent to the second major destination, the UK (X kg), threefold. The third position in this ranking was taken by the Netherlands (X kg), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey stood at +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+1,125.8% per year) and the Netherlands (+157.6% per year).

In value terms, Turkey ($X) remains the key foreign market for tea exports from Iraq, comprising 54% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 21% share of total exports. It was followed by the UK, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey amounted to +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (-26.2% per year) and the UK (+743.2% per year).

Export Prices by Country

In 2022, the average tea export price amounted to $X per ton, with an increase of 1.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 35% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+52.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tea Imports

Imports into Iraq

Tea imports into Iraq contracted to X tons in 2022, with a decrease of -5.1% compared with the year before. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 83%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, tea imports contracted to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 93%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sri Lanka (X tons) constituted the largest tea supplier to Iraq, accounting for a 67% share of total imports. Moreover, tea imports from Sri Lanka exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. India (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sri Lanka amounted to -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+24.0% per year) and India (+28.4% per year).

In value terms, Sri Lanka ($X) constituted the largest supplier of tea to Iraq, comprising 70% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by India, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Sri Lanka was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+30.5% per year) and India (+20.8% per year).

Import Prices by Country

In 2022, the average tea import price amounted to $X per ton, stabilizing at the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 27% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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