Price for Article of Natural Cork in Iraq - 2022

Price for Article of Natural Cork in Iraq (CIF) - 2022

The average article of natural cork import price stood at $5,875 per ton in 2022, with an increase of 5.6% against the previous year. Overall, the import price, however, showed a abrupt curtailment. The growth pace was the most rapid in 2020 when the average import price increased by 15%. Over the period under review, average import prices hit record highs at $13,015 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($5,968 per ton), while the price for Kuwait stood at $574 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Armenia (-4.9%), while the prices for the other major suppliers experienced a decline.

Price for Article of Natural Cork in Iraq (FOB) - 2022

In 2022, the average article of natural cork export price amounted to $12,966 per ton, growing by 23% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 an increase of 29%. Over the period under review, the average export prices hit record highs at $13,454 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +1.3% per year.

Imports of Article of Natural Cork in Iraq

For the fourth year in a row, Iraq recorded growth in overseas purchases of articles of natural cork, which increased by 27% to 146 tons in 2022. Overall, imports showed significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 377% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, article of natural cork imports surged to $855K in 2022. In general, imports recorded a significant increase. The growth pace was the most rapid in 2020 with an increase of 450% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Import of Article of Natural Cork in Iraq (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	36.7	464	630	851	185.2%
Kuwait	2.0	1.8	1.6	1.4	-11.2%
Armenia	55.9	N/A	N/A	N/A	0%
Others	1.6	64.6	3.1	3.1	24.7%
Total	96.3	530	635	855	107.1%

Top Suppliers of Article of Natural Cork to Iraq in 2022:

United Arab Emirates (142.5 tons)
Kuwait (2.4 tons)

Exports of Article of Natural Cork in Iraq

Article of natural cork exports from Iraq skyrocketed to 204 kg in 2022, surging by 117% compared with 2021 figures. In general, exports saw resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, article of natural cork exports surged to $2.6K in 2022. Overall, exports showed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.