Iraq: Cotton Fabric Market 2024

Cotton Fabric Market Size in Iraq

In 2021, after two years of growth, there was significant decline in the Iraqi cotton fabric market, when its value decreased by -38.6% to $X. Over the period under review, consumption, however, saw a resilient expansion. As a result, consumption attained the peak level of $X, and then fell rapidly in the following year.

Cotton Fabric Production in Iraq

In value terms, cotton fabric production declined slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2015 when the production volume increased by 29% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Cotton Fabric Exports

Exports from Iraq

In 2021, the amount of woven fabrics of cotton exported from Iraq soared to X kg, with an increase of 46% compared with 2020. In general, exports, however, recorded a sharp descent. The growth pace was the most rapid in 2013 with an increase of 4,510% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, cotton fabric exports soared to $X in 2021. Overall, exports, however, faced a sharp slump. The growth pace was the most rapid in 2013 with an increase of 1,415% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X kg) was the main destination for cotton fabric exports from Iraq, accounting for a 66% share of total exports. Moreover, cotton fabric exports to Sweden exceeded the volume sent to the second major destination, Indonesia (X kg), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden was relatively modest.

In value terms, Indonesia ($X) and Sweden ($X) appeared to be the largest markets for cotton fabric exported from Iraq worldwide.

Indonesia, with a CAGR of +962.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average cotton fabric export price amounted to $X per ton, declining by -11.4% against the previous year. Over the period under review, the export price saw a perceptible decrease. The pace of growth appeared the most rapid in 2015 an increase of 1,407% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Sweden stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+571.3%).

Cotton Fabric Imports

Imports into Iraq

In 2021, after two years of growth, there was significant decline in supplies from abroad of woven fabrics of cotton, when their volume decreased by -31.6% to X tons. Over the period under review, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by 158% against the previous year. As a result, imports attained the peak of X tons, and then shrank markedly in the following year.

In value terms, cotton fabric imports dropped notably to $X in 2021. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 264% against the previous year. As a result, imports attained the peak of $X, and then fell rapidly in the following year.

Imports by Country

In 2021, China (X tons) was the main supplier of cotton fabric to Iraq, accounting for a 103% share of total imports. Moreover, cotton fabric imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. Turkey (X tons) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.8% per year) and Turkey (-9.6% per year).

In value terms, China ($X) constituted the largest supplier of woven fabrics of cotton to Iraq, comprising 93% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Turkey, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-7.2% per year) and Turkey (-0.7% per year).

Import Prices by Country

In 2021, the average cotton fabric import price amounted to $X per ton, waning by -20% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 41%. As a result, import price attained the peak level of $X per ton, and then dropped remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+9.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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