Iraq: Threaded Metal Articles Market 2024

Threaded Metal Articles Market Size in Iraq

The Iraqi threaded metal articles market shrank to $X in 2021, dropping by -5.1% 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). Overall, consumption, however, saw a prominent expansion. Threaded metal articles consumption peaked at $X in 2020, and then contracted in the following year.

Threaded Metal Articles Exports

Exports from Iraq

In 2021, shipments abroad of threaded articles of iron or steel increased by 1,211% to X kg for the first time since 2015, thus ending a five-year declining trend. Overall, exports saw a noticeable expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, threaded metal articles exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a perceptible descent. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for threaded metal articles exports from Iraq, accounting for a 83% share of total exports. Moreover, threaded metal articles exports to the United Arab Emirates exceeded the volume sent to the second major destination, Turkey (X kg), more than tenfold.

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: Turkey (-21.6% per year) and Singapore (0.0% per year).

In value terms, the largest markets for threaded metal articles exported from Iraq were the United Arab Emirates ($X), Singapore ($X) and Turkey ($X), together comprising 70% of total exports.

The United Arab Emirates, with a CAGR of 0.0%, 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 mixed trend patterns.

Export Prices by Country

In 2021, the average threaded metal articles export price amounted to $X per ton, dropping by -56% against the previous year. In general, the export price saw a abrupt slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 358% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (-5.4%).

Threaded Metal Articles Imports

Imports into Iraq

In 2021, approx. X tons of threaded articles of iron or steel were imported into Iraq; which is down by -11.9% against the year before. Overall, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of 161%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, threaded metal articles imports amounted to $X in 2021. In general, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2015 when imports increased by 189% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of threaded metal articles to Iraq, with a 68% share of total imports. Moreover, threaded metal articles imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sixfold. The third position in this ranking was held by South Korea (X tons), with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-2.4% per year) and South Korea (+62.0% per year).

In value terms, China ($X) constituted the largest supplier of threaded articles of iron or steel to Iraq, comprising 46% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by Turkey, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+70.5% per year) and Turkey (+4.8% per year).

Import Prices by Country

In 2021, the average threaded metal articles import price amounted to $X per ton, increasing by 14% against the previous year. In general, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, threaded metal articles import price increased by +128.0% against 2014 indices. The most prominent rate of growth was recorded in 2015 an increase of 84%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in years to come.

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 South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :