Iraq: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Iraq

In 2023, the Iraqi nitrogenous fertilizer market increased by X% to $X for the first time since 2020, thus ending a two-year declining trend. In general, the total consumption indicated modest growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. Nitrogenous fertilizer consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Nitrogenous Fertilizer Production in Iraq

In value terms, nitrogenous fertilizer production rose rapidly to $X in 2023 estimated in export price. Overall, production enjoyed a prominent increase. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

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Nitrogenous Fertilizer Exports

Exports from Iraq

In 2023, the amount of nitrogenous fertilizers (mineral or chemical) exported from Iraq declined rapidly to X tons, which is down by X% compared with the previous year. In general, exports showed a abrupt descent. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, nitrogenous fertilizer exports declined markedly to $X in 2023. Overall, exports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2022 when exports increased by X%. The exports peaked at $X in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

Exports by Country

Lebanon (X tons) was the main destination for nitrogenous fertilizer exports from Iraq, accounting for a X% share of total exports. Moreover, nitrogenous fertilizer exports to Lebanon exceeded the volume sent to the second major destination, Turkey (X tons), twofold.

From 2012 to 2023, the average annual growth rate of volume to Lebanon amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Jordan (X% per year).

In value terms, Turkey ($X), Jordan ($X) and Lebanon ($X) appeared to be the largest markets for nitrogenous fertilizer exported from Iraq worldwide.

In terms of the main countries of destination, Turkey, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2023, the average nitrogenous fertilizer export price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price, however, posted a resilient expansion. The growth pace was the most rapid in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogenous Fertilizer Imports

Imports into Iraq

In 2023, purchases abroad of nitrogenous fertilizers (mineral or chemical) was finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, nitrogenous fertilizer imports rose remarkably to $X in 2023. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

Jordan (X tons), Iran (X tons) and Turkey (X tons) were the main suppliers of nitrogenous fertilizer imports to Iraq, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nitrogenous fertilizer suppliers to Iraq were Iran ($X), Jordan ($X) and Turkey ($X), together accounting for X% of total imports. These countries were followed by Egypt, which accounted for a further X%.

In terms of the main suppliers, Egypt, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average nitrogenous fertilizer import price stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the import price, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform