Libya: Chocolate Market 2024

Chocolate Market Size in Libya

The Libyan chocolate market shrank slightly to $X in 2022, which is down by -4.8% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +37.8% against 2018 indices. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Chocolate Production in Libya

In value terms, chocolate production skyrocketed to $X in 2022 estimated in export price. In general, production, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2020 with an increase of 198% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Libya

In 2022, chocolate exports from Libya shrank modestly to X tons, which is down by -4.4% against the year before. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 255% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, chocolate exports declined to $X in 2022. In general, exports showed a deep contraction. The pace of growth appeared the most rapid in 2013 when exports increased by 478% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Malta (X tons) was the main destination for chocolate exports from Libya, with a 68% share of total exports. Moreover, chocolate exports to Malta exceeded the volume sent to the second major destination, Italy (X kg), fourfold. Turkey (X kg) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malta was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Turkey (-16.8% per year).

In value terms, Malta ($X) remains the key foreign market for chocolate and cocoa products exports from Libya, comprising 69% of total exports. The second position in the ranking was held by Italy ($X), with a 16% share of total exports. It was followed by Turkey, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Malta was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Turkey (-15.3% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, with a decrease of -4.8% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chocolate export price increased by +5.8% against 2020 indices. The growth pace was the most rapid in 2017 when the average export price increased by 66%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the 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 Egypt ($X per ton), while the average price for exports to Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Libya

In 2022, approx. X tons of chocolate and cocoa products were imported into Libya; waning by -13.9% against 2021 figures. Over the period under review, imports saw a mild reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 180% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, chocolate imports contracted notably to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 217% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of chocolate to Libya, with a 46% share of total imports. Moreover, chocolate imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. The third position in this ranking was held by the Netherlands (X tons), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.1% per year) and the Netherlands (+0.2% per year).

In value terms, Turkey ($X) constituted the largest supplier of chocolate and cocoa products to Libya, comprising 39% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by the UK, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.7% per year) and the UK (+12.8% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, waning by -1.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 an increase of 18%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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