Iraq: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Iraq

In 2021, the Iraqi wooden office furniture market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Wooden Office Furniture Exports

Exports from Iraq

In 2021, exports of wooden furniture of a kind used in offices from Iraq soared to X units, rising by 224% on the previous year. In general, exports saw a resilient expansion. The pace of growth was the most pronounced in 2019 when exports increased by 1,076% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wooden office furniture exports skyrocketed to $X in 2021. Overall, exports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 735% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X units) was the main destination for wooden office furniture exports from Iraq, accounting for a 75% share of total exports. Moreover, wooden office furniture exports to Turkey exceeded the volume sent to the second major destination, the UK (X units), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey totaled +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and the Netherlands (+700.0% per year).

In value terms, Turkey ($X) remains the key foreign market for wooden furniture of a kind used in offices exports from Iraq, comprising 81% of total exports. The second position in the ranking was taken by the UK ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey amounted to -14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and the Netherlands (+1,740.0% per year).

Export Prices by Country

In 2021, the average wooden office furniture export price amounted to $X per unit, picking up by 31% against the previous year. Over the period under review, the export price, however, showed a abrupt descent. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to the UK ($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 the Netherlands (+148.5%), while the prices for the other major destinations experienced a decline.

Wooden Office Furniture Imports

Imports into Iraq

In 2021, overseas purchases of wooden furniture of a kind used in offices were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 87% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, wooden office furniture imports surged to $X in 2021. In general, imports continue to indicate slight growth. The growth pace was the most rapid in 2013 with an increase of 75% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X units) constituted the largest supplier of wooden office furniture to Iraq, accounting for a 59% share of total imports. Moreover, wooden office furniture imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Italy (X units) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.0% per year) and Italy (+53.8% per year).

In value terms, the largest wooden office furniture suppliers to Iraq were Turkey ($X), China ($X) and Italy ($X), together comprising 89% of total imports.

Italy, with a CAGR of +46.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average wooden office furniture import price amounted to $X per unit, with an increase of 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2020 when the average import price increased by 27%. The import price peaked in 2021 and is likely to continue growth in the near future.

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 ($X per unit), while the price for Italy ($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 (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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