Iraq: Chocolate Market 2024

Chocolate Market Size in Iraq

The Iraqi chocolate 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 X% 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 hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Chocolate Production in Iraq

In value terms, chocolate production declined slightly to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible descent. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Chocolate production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Iraq

In 2022, overseas shipments of chocolate and cocoa products were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, chocolate exports skyrocketed to $X in 2022. Overall, exports continue to indicate strong growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for chocolate exports from Iraq, accounting for a X% share of total exports. It was followed by Italy (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Turkey amounted to X%.

In value terms, Turkey ($X) remains the key foreign market for chocolate and cocoa products exports from Iraq, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey stood at X%.

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Turkey totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%).

Chocolate Imports

Imports into Iraq

In 2022, chocolate imports into Iraq was estimated at X tons, picking up by X% on 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, chocolate imports amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of chocolate to Iraq, accounting for a X% share of total imports. Moreover, chocolate imports from Turkey exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Germany (X% per year).

In value terms, Turkey ($X) constituted the largest supplier of chocolate and cocoa products to Iraq, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Germany (X% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton 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 Germany ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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