Iraq: Silk Yarn Market 2023

Silk Yarn Market Size in Iraq

The Iraqi silk yarn market declined remarkably to $X in 2021, reducing by -24.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a deep downturn. Silk yarn consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Silk Yarn Exports

Exports from Iraq

Silk yarn exports from Iraq stood at less than X kg in 2021, remaining stable against 2020 figures. Over the period under review, exports recorded a relatively flat trend pattern.

In value terms, silk yarn exports stood at less than $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern.

Silk Yarn Imports

Imports into Iraq

In 2021, the amount of silk yarn and yarn spun from silk waste imported into Iraq contracted remarkably to X tons, with a decrease of -27% against the previous year's figure. Over the period under review, imports saw a abrupt downturn. The growth pace was the most rapid in 2013 with an increase of 25%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, silk yarn imports shrank dramatically to $X in 2021. In general, imports recorded a noticeable slump. The pace of growth was the most pronounced in 2014 when imports increased by 42% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of silk yarn to Iraq, with a 96% share of total imports. It was followed by the United Arab Emirates (X tons), with a 2.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -1.0%.

In value terms, China ($X) constituted the largest supplier of silk yarn and yarn spun from silk waste to Iraq, comprising 98% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 0.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -1.7%.

Import Prices by Country

In 2021, the average silk yarn import price amounted to $X per ton, growing by 4.1% against the previous year. Overall, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silk yarn import price increased by +22.8% against 2019 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 54%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.7%).

Source: IndexBox Market Intelligence Platform

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