Iraq: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Iraq

The Iraqi wooden bedroom furniture market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Wooden Bedroom Furniture Production in Iraq

In value terms, wooden bedroom furniture production rose to $X in 2022 estimated in export price. Overall, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 49% against the previous year. Wooden bedroom furniture production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wooden Bedroom Furniture Exports

Exports from Iraq

In 2022, after six years of growth, there was significant decline in shipments abroad of wooden furniture of a kind used in the bedroom, when their volume decreased by -44.4% to X units. In general, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 817%. As a result, the exports reached the peak of X units, and then shrank markedly in the following year.

In value terms, wooden bedroom furniture exports fell notably to $X in 2022. Overall, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 990% against the previous year. As a result, the exports attained the peak of $X, and then dropped sharply in the following year.

Exports by Country

The Netherlands (X units) was the main destination for wooden bedroom furniture exports from Iraq, accounting for a 45% share of total exports. Moreover, wooden bedroom furniture exports to the Netherlands exceeded the volume sent to the second major destination, the UK (X units), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to +8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Turkey (-22.0% per year).

In value terms, the Netherlands ($X) remains the key foreign market for wooden furniture of a kind used in the bedroom exports from Iraq, comprising 45% of total exports. The second position in the ranking was held by the UK ($X), with a 7.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Netherlands amounted to +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Turkey (-22.7% per year).

Export Prices by Country

In 2022, the average wooden bedroom furniture export price amounted to $X per unit, declining by -1.8% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 38%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+10.2%), while the prices for the other major destinations experienced a decline.

Wooden Bedroom Furniture Imports

Imports into Iraq

In 2022, after two years of decline, there was growth in purchases abroad of wooden furniture of a kind used in the bedroom, when their volume increased by 0.3% to X units. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 36%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, wooden bedroom furniture imports rose notably to $X in 2022. The total import value increased at an average annual rate of +5.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 33%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X units) was the main supplier of wooden bedroom furniture to Iraq, with a 93% share of total imports. Moreover, wooden bedroom furniture imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +5.4%.

In value terms, Turkey ($X) constituted the largest supplier of wooden furniture of a kind used in the bedroom to Iraq, comprising 91% of total imports. The second position in the ranking was taken by China ($X), with a 7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Turkey totaled +6.2%.

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, rising by 6.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2018 an increase of 37%. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices stood 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 China ($X per unit), while the price for Turkey stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.3%).

Source: IndexBox Platform

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