Iraq: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Iraq

The Iraqi waffle and wafer market amounted to $X in 2021, picking up by 4.3% 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, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.1% against 2019 indices. Waffle and wafer consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Waffle And Wafer Exports

Exports from Iraq

In 2021, shipments abroad of waffles and wafers decreased by -74.8% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports showed a deep slump. The pace of growth was the most pronounced in 2014 with an increase of 360%. Over the period under review, the exports attained the maximum at X tons in 2020, and then dropped sharply in the following year.

In value terms, waffle and wafer exports shrank sharply to $X in 2021. Overall, exports showed a drastic downturn. The growth pace was the most rapid in 2014 when exports increased by 290% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then shrank sharply in the following year.

Exports by Country

Turkey (X tons) was the main destination for waffle and wafer exports from Iraq, accounting for a 95% share of total exports. Moreover, waffle and wafer exports to Turkey exceeded the volume sent to the second major destination, Angola (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Turkey totaled +16.8%.

In value terms, Turkey ($X) remains the key foreign market for waffles and wafers exports from Iraq, comprising 90% of total exports. The second position in the ranking was held by Angola ($X), with an 8.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey amounted to +4.7%.

Export Prices by Country

In 2021, the average waffle and wafer export price amounted to $X per ton, falling by -32.5% against the previous year. In general, the export price saw a perceptible descent. The most prominent rate of growth was recorded in 2016 an increase of 16% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Angola ($X per ton), while the average price for exports to Turkey amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+3.0%).

Waffle And Wafer Imports

Imports into Iraq

In 2021, approx. X tons of waffles and wafers were imported into Iraq; waning by -2% compared with 2020 figures. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume 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, imports increased by +1.4% against 2019 indices. The growth pace was the most rapid in 2015 when imports increased by 20%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, waffle and wafer imports rose rapidly to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +6.9% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 16%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of waffle and wafer to Iraq, accounting for a 66% share of total imports. Moreover, waffle and wafer imports from Turkey exceeded the figures recorded by the second-largest supplier, Iran (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+15.0% per year) and Russia (+35.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of waffles and wafers to Iraq, comprising 70% of total imports. The second position in the ranking was taken by Iran ($X), with a 19% share of total imports. It was followed by Russia, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+14.5% per year) and Russia (+34.1% per year).

Import Prices by Country

The average waffle and wafer import price stood at $X per ton in 2021, increasing by 7.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Turkey ($X per ton) and Bulgaria ($X per ton), while the price for Iran ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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