The Truck Market in Iraq Is on the Rise

Motor Vehicles July 12, 2018
Iraq - Trucks - Market Analysis, Forecast, Size, Trends and Insights

Format: Electronic (pdf) by email (February 01, 2019)

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Abstract
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IndexBox has just published a new report "Iraq: Trucks - Market Report. Analysis And Forecast To •••". Here is a summary of the report’s key findings.

The Truck Market Plunged Dramatically

The truck market in Iraq totalled ••• units in 2016, experiencing mixed trend patterns from 2007 to 2016. From 2007 – 2009, the market grew significantly and then decreased over the next two year period. It then started to see a recovery, and surpassing pre-crisis figures, continued to expand. However, from 2015 to 2016, the Iraq trucks market decreased significantly, which was caused by a drop in demand due to the deterioration of the economic situation with the new war starting in the country. 

The Truck Market Is Expected to Grow Modestly

Should there be any sign of gradual political stabilization, the country's economy shall recover, the demand for freight transportation will then grow. An additional contribution is expected following the growing demand for construction materials required for rebuilding destroyed cities, as well as the development of trade relations between Iraq, its neighboring countries and Asian countries (primarily, China and Southeast Asian countries); all in all, influenced by these factors, the truck market will be gradually growing. At the same time, due to relatively low oil prices along with a lot of risks to political stability in Iraq, which all hamper the economy development, it is expected that the growth of the truck market will be modest. Market performance is forecast to increase with an anticipated CAGR of +•••% for the period from 2016 to •••, which is expected to bring the market volume to ••• units by •••.

Trucks Production in Iraq Improved over the Last Year

Iraq’s trucks output increased to ••• units in 2016, an increase of ••• units (or •••%) more than the previous year. The production of trucks in Iraq remains insignificant and unstable. A notable growth in production volume in Iraq is due to the expansion of production by foreign companies. 

Iraq domestic truck production, however, remains insignificant in comparison with the volume of imports, which are shipped mainly from Asian countries (the Republic of Korea, the UAE, Kuwait, China) and the EU (the UK, Spain and the Netherlands). Despite a decline in imports in recent years, Iraq depends completely on imported trucks.

Truck Exports from Iraq Remain Negligible

Exports of trucks from Iraq remain negligible both in terms of volume and value, fluctuating near only ••• units over the last five years, which equated $••• in 2016. As the result, in 2016, Ghana (••• units) and Korea (••• unit) were the only destinations of truck exports from Iraq. Previously, a very small amount of trucks was also exported to Turkey, Venezuela and some other countries, but these supplies were negligible.

Truck Imports Plunged Abruptly due to Current Military Instability in Iraq

The volume of total truck imports in Iraq totalled ••• units in 2016, which equated to $••• in value terms. The volume of imports grew robustly from 2008-2009, but then it slipped down on the backdrop of the global financial crisis and political instability in Iraq. Afterwards, it soared from 2012-2014 amid high oil prices, which promoted the recovery of economy of Iraq. Over the next two years, however, the volume of imports plunged dramatically, caused by a new war in Iraq and the loss of control over a large piece of the country’s territory by the government. In value terms, the trend pattern was similar to that of the volume of imports.

Korea (••• units), the U.A.E. (••• units), Kuwait (••• units), China (••• units) and the UK (••• units) remain the key suppliers of trucks to Iraq, together accounting for •••% of the total imports in 2016. 

From 2007 to 2016, Korea (+•••% per year) and the U.A.E. (+•••% per year) had the highest growth rates of the import supplies to Iraq, while Kuwait (-•••% per year) and China (-•••% per year) experienced negative dynamics of the volume of supplies. Consequently, the share of Korea (+••• percentage points) and the U.A.E. (+••• percentage points) in terms of the total imports increased noticeably from 2007-2016. By contrast, the share of China reduced from •••% in 2007 to •••% in 2016. The shares of the other countries remained relatively stable throughout the analysed period.

Do you want to know more about the truck market in Iraq? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • truck market share
  • truck prices
  • truck industry
  • truck sales
  • truck import
  • truck export
  • truck market forecast
  • truck price forecast

Source: Iraq: Trucks - Market Report. Analysis And Forecast To •••

The report provides an in-depth analysis of the truck market in Iraq. It presents the latest data of the market size, consumption, domestic production, exports and imports, price dynamics and trends in the industry. The report shows the sales data, allowing you to identify the key drivers and restraints. You can find here a strategic analysis of key factors influencing the market. Forecasts illustrate how the market will be transformed in the medium term.

Country coverage: Iraq

Product coverage:
Motor vehicles not elsewhere classified for the transport of goods except for dumpers designed for off-highway use.

Data coverage:
• Truck market size and value in Iraq
• Volume and dynamics of truck production in Iraq
• Volume and dynamics of exports/imports
• Producer prices, import/export prices for truck
• Truck market trends, drivers and restraints
• Forecast of the market dynamics in the medium term
• Per capita consumption of truck in Iraq

Why buy this report
• Get the full picture of the market
• Assess future market prospects
• Identify Key success factors on the truck market in Iraq
• Adjust your marketing strategy
1. INTRODUCTION
1.1 REPORT DESCRIPTION
1.2 RESEARCH METHODOLOGY

2. EXECUTIVE SUMMARY
2.1 KEY FINDINGS
2.2 MARKET TRENDS

3. MARKET OVERVIEW
3.1 MARKET VOLUME AND VALUE
3.2 MARKET STRUCTURE
3.3 TRADE BALANCE
3.4 PER CAPITA CONSUMPTION
3.5 MARKET FORECAST TO 2025
3.6 MARKET OPPORTUNITIES

4. PRODUCTION
4.1 PRODUCTION FROM 2007-2016

5. IMPORTS
5.1 IMPORTS FROM 2007-2016
5.2 IMPORTS BY COUNTRY
5.3 IMPORT PRICES BY COUNTRY

6. EXPORTS
6.1 EXPORTS FROM 2007-2016
6.2 EXPORTS BY COUNTRY
6.3 EXPORT PRICES BY COUNTRY

APPENDIX 1: PRODUCTION, TRADE AND CONSUMPTION
APPENDIX 2: TRADE AND PRICES BY COUNTRY

LIST OF TABLES

Table 1: Trucks Market in Iraq – Key Findings in 2016
Table 2: Dynamics of Market Volume, Iraq, in Physical Terms, 2007-2016
Table 3: Dynamics of Market Value, Iraq, in USD, 2007-2016
Table 4: Per Capita Consumption, Iraq, 2007-2016
Table 5: Imports of Trucks, in Physical Terms, by Country, 2007-2016
Table 6: Imports of Trucks, in Value Terms, by Country, 2007-2016
Table 7: Import Prices for Trucks, by Country of Destination, 2007-2016
Table 8: Exports of Trucks, in Physical Terms, by Country, 2007-2016
Table 9: Exports of Trucks, in Value Terms, by Country, 2007-2016
Table 10: Export Prices for Trucks, by Country of Destination, 2007-2016

LIST OF FIGURES
Figure 1: Market Volume, Iraq, 2007-2016
Figure 2: Market Value, Iraq, 2007-2016
Figure 3: Trucks Market Structure – Domestic Supply vs. Imports, Iraq, in Physical Terms, by Supply, 2007-2016, By Supply
Figure 4: Trade Balance, Trucks, Iraq, in Physical Terms, 2007-2016
Figure 5: Trade Balance, Trucks, Iraq, in Value Terms, 2007-2016
Figure 6: Per Capita Consumption, Iraq, 2007-2016
Figure 7: Market Forecast to 2025
Figure 8: Production of Trucks, Iraq, in Physical Terms, 2007–2016
Figure 9: Production of Trucks, Iraq, in Value Terms, 2007–2016
Figure 10: Imports of Trucks, in Physical Terms, 2007-2016
Figure 11: Imports of Trucks, in Value Terms, 2007-2016
Figure 12: Imports of Trucks, in Physical Terms, by Country, 2007–2016
Figure 13: Imports of Trucks, in Value Terms, by Country, 2007–2016
Figure 14: Import Prices for Trucks, by Country of Origin, 2007-2016
Figure 15: Exports of Trucks, in Physical Terms, 2007-2016
Figure 16: Exports of Trucks, in Value Terms, 2007-2016
Figure 17: Exports of Trucks, in Physical Terms, by Country, 2007–2016
Figure 18: Exports of Trucks, in Value Terms, by Country, 2007–2016
Figure 19: Export Prices for Trucks, by Country of Destination, 2007-2016